<SEC-DOCUMENT>0001213900-16-011094.txt : 20160219
<SEC-HEADER>0001213900-16-011094.hdr.sgml : 20160219
<ACCEPTANCE-DATETIME>20160219163656
ACCESSION NUMBER:		0001213900-16-011094
CONFORMED SUBMISSION TYPE:	10-K
PUBLIC DOCUMENT COUNT:		90
CONFORMED PERIOD OF REPORT:	20151231
FILED AS OF DATE:		20160219
DATE AS OF CHANGE:		20160219

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			STRAYER EDUCATION INC
		CENTRAL INDEX KEY:			0001013934
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-EDUCATIONAL SERVICES [8200]
		IRS NUMBER:				521975978
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		10-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-21039
		FILM NUMBER:		161442297

	BUSINESS ADDRESS:	
		STREET 1:		2303 DULLES STATION BOULEVARD
		CITY:			HERNDON
		STATE:			VA
		ZIP:			20171
		BUSINESS PHONE:		703-561-1600

	MAIL ADDRESS:	
		STREET 1:		2303 DULLES STATION BOULEVARD
		CITY:			HERNDON
		STATE:			VA
		ZIP:			20171
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-K
<SEQUENCE>1
<FILENAME>f10k2015_strayereducation.htm
<DESCRIPTION>FORM 10-K
<TEXT>
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<TITLE></TITLE>
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<BODY LANG="EN-US" STYLE=
"text-justify-trim: punctuation; margin: 0 auto; padding: 10pt;">

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<DIV STYLE=
"border: none; border-top: double windowtext 6.0pt; padding: 24.0pt 0in 0in 0in;">
<P CLASS="H1" STYLE=
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<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE=
"font-size: 16.0pt;">UNITED STATES SECURITIES AND EXCHANGE
COMMISSION</FONT></FONT></P>
</DIV>
<P CLASS="H1" STYLE=
"margin-top: 0in; mso-style-name: H1; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">WASHINGTON, D.C.
20549</FONT></P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE=
"font-size: 16.0pt;">FORM 10-K</FONT></FONT></P>
<P CLASS="H1" STYLE=
"margin-top: 10.0pt; mso-style-name: H1; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">ANNUAL REPORT PURSUANT
TO SECTION 13 OR 15(d) OF<BR>
THE SECURITIES EXCHANGE ACT OF 1934</FONT></P>
<P CLASS="Textflush" ALIGN="center" STYLE=
"margin-top: 5.0pt; text-align: center; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
For the fiscal year ended December 31, 2015</P>
<P CLASS="Textflush" ALIGN="center" STYLE=
"margin-top: 5.0pt; text-align: center; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Commission file number: 0-21039</P>
<P CLASS="H1" STYLE=
"margin-top: 6.0pt; mso-style-name: H1; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE=
"font-size: 20.0pt;">STRAYER EDUCATION, INC.</FONT></FONT></P>
<P CLASS="Textflush" ALIGN="center" STYLE=
"margin-top: 0in; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; mso-style-name: Text_flush; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(Exact name of registrant as specified in its charter)</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" WIDTH="100%" STYLE=
"width: 100.0%; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="8%" VALIGN="bottom" STYLE=
"width: 8.58%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.68%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="34%" VALIGN="bottom" STYLE=
"width: 34.54%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG="EN-GB"
STYLE="font-size: 10.0pt;">MARYLAND</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.68%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.68%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="37%" VALIGN="bottom" STYLE=
"width: 37.32%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG="EN-GB"
STYLE="font-size: 10.0pt;">52-1975978</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.68%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="bottom" STYLE=
"width: 12.86%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="8%" VALIGN="top" STYLE=
"width: 8.58%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.68%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="34%" VALIGN="top" STYLE=
"width: 34.54%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">(State or other jurisdiction of<BR>
incorporation or organization)</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.68%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.68%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="37%" VALIGN="top" STYLE=
"width: 37.32%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">(I.R.S. Employer Identification
Number)</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.68%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="top" STYLE=
"width: 12.86%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
</TABLE>
<P CLASS="Textflush" ALIGN="center" STYLE=
"margin-top: 10.0pt; text-align: center; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">2303 Dulles Station
Boulevard, Herndon, VA 20171<BR></FONT>(Address of principal
executive offices)</P>
<P CLASS="Textflush" ALIGN="center" STYLE=
"margin-top: 5.0pt; text-align: center; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">REGISTRANT&#8217;S
TELEPHONE NUMBER INCLUDING AREA CODE: (703) 247-2500</FONT></P>
<P CLASS="Textflush" ALIGN="center" STYLE=
"margin-bottom: 10.0pt; text-align: center; mso-style-name: Text_flush; margin-top: 6.0pt; margin-right: 0in; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">SECURITIES REGISTERED
PURSUANT TO SECTION 12(b) OF THE ACT:</FONT></P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" WIDTH="100%" STYLE=
"width: 100.0%; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="4%" VALIGN="bottom" STYLE=
"width: 4.84%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.62%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="37%" VALIGN="bottom" STYLE=
"width: 37.08%; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; padding: 0in; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT LANG="EN-GB" STYLE="font-size: 10.0pt;">COMMON STOCK, $.01
PAR VALUE</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.62%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.62%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="40%" VALIGN="bottom" STYLE=
"width: 40.46%; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; padding: 0in; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT LANG="EN-GB" STYLE="font-size: 10.0pt;">NASDAQ GLOBAL SELECT
MARKET</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.62%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11%" VALIGN="bottom" STYLE=
"width: 11.14%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="4%" VALIGN="top" STYLE=
"width: 4.84%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.62%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="37%" VALIGN="top" STYLE=
"width: 37.08%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(Title of class)</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.62%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.62%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="40%" VALIGN="top" STYLE=
"width: 40.46%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">(Name of each exchange on<BR>
which registered)</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.62%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11%" VALIGN="top" STYLE=
"width: 11.14%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
</TABLE>
<P CLASS="Textflush" ALIGN="center" STYLE=
"margin-top: 10.0pt; text-align: center; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">SECURITIES REGISTERED
PURSUANT TO SECTION 12(g) OF THE ACT:<BR>
NONE</FONT></P>
<P CLASS="Textind" STYLE=
"margin-top: 2.0pt; mso-style-name: Text_ind; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;"><FONT STYLE="font-size: 9pt">Indicate
by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act:</FONT> <FONT STYLE="font-family: Wingdings">&#168;</FONT><FONT STYLE="font-size: 9pt">&nbsp;
Yes</FONT> <FONT STYLE="font: 9pt Wingdings">&#254;</FONT> <FONT STYLE="font-size: 9pt">No</FONT></P>
<P CLASS="Textind" STYLE=
"margin-top: 2.0pt; mso-style-name: Text_ind; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;"><FONT STYLE="font-size: 9pt">Indicate
by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act:</FONT> <FONT STYLE="font-family: Wingdings">&#168;
</FONT><FONT STYLE="font-size: 9pt">Yes</FONT> <FONT STYLE="font: 9pt Wingdings">&#254;</FONT> <FONT STYLE="font-size: 9pt">No</FONT></P>
<P CLASS="Textind" STYLE=
"margin-top: 2.0pt; mso-style-name: Text_ind; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;"><FONT STYLE="font-size: 9pt">Indicate
by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports),
and (2) has been subject to such filing requirements for the last 90 days.</FONT> <FONT STYLE="font: 9pt Wingdings">&#254;</FONT>
<FONT STYLE="font-size: 9pt">Yes</FONT> <FONT STYLE="font-family: Wingdings">&#168;</FONT> <FONT STYLE="font-size: 9pt">No</FONT></P>
<P CLASS="Textind" STYLE=
"margin-top: 2.0pt; mso-style-name: Text_ind; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;"><FONT STYLE="font-size: 9pt">Indicate
by check mark whether the registrant has submitted electronically and posted on its corporate Website, if any, every Interactive
Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (&#167; 229.405 of this chapter) during the
preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).</FONT> <FONT STYLE="font: 9pt Wingdings">&#254;
</FONT><FONT STYLE="font-size: 9pt">Yes</FONT> <FONT STYLE="font-family: Wingdings">&#168;</FONT> <FONT STYLE="font-size: 9pt">No</FONT></P>
<P CLASS="Textind" STYLE=
"margin-top: 2.0pt; mso-style-name: Text_ind; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;"><FONT STYLE="font-size: 9pt">Indicate
by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (Section 229.405 of this chapter) is not
contained herein, and will not be contained, to the best of Registrant&#8217;s knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.</FONT> <FONT STYLE="font: 9pt Wingdings">&#254;</FONT></P>
<P CLASS="Textind" STYLE=
"margin-top: 2.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; mso-style-name: Text_ind; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT STYLE="font-size: 9.0pt;">Indicate by check mark whether the
registrant is a large accelerated filer, an accelerated filer, a
non-accelerated filer, or a smaller reporting company. See the
definitions of &#8220;large accelerated filer,&#8221;
&#8220;accelerated filer&#8221; and &#8220;smaller reporting
company&#8221; in Rule 12b-2 of the Exchange Act. (Check
one):</FONT></P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" WIDTH="100%" STYLE=
"width: 100.0%; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="23%" VALIGN="bottom" STYLE=
"width: 23.88%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="ebox" STYLE=
"mso-style-name: ebox; font-family: Wingdings2;"><FONT LANG="EN-GB"
STYLE="font-family: Wingdings;">&#168;</FONT></FONT> <FONT LANG=
"EN-GB" STYLE="font-size: 9.0pt;">Large accelerated
filer</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.48%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="23%" VALIGN="bottom" STYLE=
"width: 23.88%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;"><FONT STYLE="font: 9pt Wingdings">&#254;
</FONT><FONT STYLE="font-size: 9pt">Accelerated filer</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.48%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="23%" VALIGN="bottom" STYLE=
"width: 23.88%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="ebox" STYLE=
"mso-style-name: ebox; font-family: Wingdings2;"><FONT LANG="EN-GB"
STYLE="font-family: Wingdings;">&#168;</FONT></FONT> <FONT LANG=
"EN-GB" STYLE="font-size: 9.0pt;">Non-accelerated filer</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.48%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="23%" VALIGN="bottom" STYLE=
"width: 23.88%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="ebox" STYLE=
"mso-style-name: ebox; font-family: Wingdings2;"><FONT LANG="EN-GB"
STYLE="font-family: Wingdings;">&#168;</FONT></FONT> <FONT LANG=
"EN-GB" STYLE="font-size: 9.0pt;">Smaller reporting
company</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="100%" COLSPAN="7" VALIGN="bottom" STYLE=
"width: 100.0%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB" STYLE="font-size: 9.0pt;">(Do not check if a
smaller reporting company)</FONT></P>
</TD>
</TR>
</TABLE>
<P CLASS="Textind" STYLE=
"margin-top: 10.0pt; mso-style-name: Text_ind; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;"><FONT STYLE="font-size: 9pt; letter-spacing: -0.05pt">Indicate
by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Securities Exchange Act).</FONT> <FONT STYLE="font-family: Wingdings">&#168;
</FONT><FONT STYLE="font-size: 9pt; letter-spacing: -0.05pt">Yes</FONT> <FONT STYLE="font: 9pt Wingdings">&#254;</FONT> <FONT STYLE="font-size: 9pt; letter-spacing: -0.05pt">No</FONT></P>
<P CLASS="Textind" STYLE=
"margin-top: 2.0pt; mso-style-name: Text_ind; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT STYLE="font-size: 9.0pt;">The aggregate market value of the
voting and non-voting common stock held by non-affiliates (computed
by reference to the price at which the common stock was last sold)
as of June 30, 2015, the last business day of the
Registrant&#8217;s most recently completed second fiscal quarter,
was $452.6 million.</FONT></P>
<P CLASS="Textind" STYLE=
"margin-top: 2.0pt; mso-style-name: Text_ind; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT STYLE="font-size: 9.0pt;">The total number of shares of
common stock outstanding as of February 1, 2016 was
11,027,177.</FONT></P>
<P CLASS="Textflush" ALIGN="center" STYLE=
"text-align: center; mso-style-name: Text_flush; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">DOCUMENTS INCORPORATED
BY REFERENCE</FONT></P>
<DIV STYLE=
"border: none; border-bottom: double windowtext 6.0pt; padding: 0in 0in 12.0pt 0in;">
<P CLASS="Textind" STYLE=
"margin-top: 2.0pt; border: none; padding: 0in; mso-style-name: Text_ind; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Certain portions of the Registrant&#8217;s Definitive Proxy
Statement for its 2016 Annual Meeting of Stockholders (which is
expected to be filed with the Commission within 120 days after the
end of the Registrant&#8217;s 2015 fiscal year) are incorporated by
reference into Part III of this Report.</P>
</DIV>
<P CLASS="RRH" STYLE=
"margin: 0in; margin-bottom: .0001pt; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">STRAYER EDUCATION,
INC.</FONT></P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">FORM 10-K</FONT></P>
<P CLASS="H1" STYLE=
"margin-bottom: 10.0pt; mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">INDEX</FONT></P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="512" VALIGN="bottom" STYLE=
"width: 384.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">Page</FONT></FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
PART I</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="512" VALIGN="bottom" STYLE=
"width: 384.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Item 1</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="512" VALIGN="bottom" STYLE=
"width: 384.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Business</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" ALIGN="center" STYLE=
"text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2</P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Item 1A</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="512" VALIGN="bottom" STYLE=
"width: 384.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Risk Factors</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" ALIGN="center" STYLE=
"text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
29</P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Item 1B</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="512" VALIGN="bottom" STYLE=
"width: 384.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Unresolved Staff Comments</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" ALIGN="center" STYLE=
"text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
39</P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Item 2</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="512" VALIGN="bottom" STYLE=
"width: 384.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Properties</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" ALIGN="center" STYLE=
"text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
39</P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Item 3</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="512" VALIGN="bottom" STYLE=
"width: 384.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Legal Proceedings</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" ALIGN="center" STYLE=
"text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
39</P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Item 4</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="512" VALIGN="bottom" STYLE=
"width: 384.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Mine Safety Disclosures</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" ALIGN="center" STYLE=
"text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
39</P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="512" VALIGN="bottom" STYLE=
"width: 384.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
PART II</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="512" VALIGN="bottom" STYLE=
"width: 384.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Item 5</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="512" VALIGN="bottom" STYLE=
"width: 384.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Market for Registrant&#8217;s Common Equity,
Related Stockholder Matters and Issuer<BR>
Purchases of Equity Securities</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" ALIGN="center" STYLE=
"text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
40</P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Item 6</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="512" VALIGN="bottom" STYLE=
"width: 384.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Selected Financial Data</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" ALIGN="center" STYLE=
"text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
43</P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Item 7</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="512" VALIGN="bottom" STYLE=
"width: 384.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Management&#8217;s Discussion and Analysis of
Financial Condition and Results of Operations</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" ALIGN="center" STYLE=
"text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
44</P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Item 7A</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="512" VALIGN="bottom" STYLE=
"width: 384.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Quantitative and Qualitative Disclosures about
Market Risk</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" ALIGN="center" STYLE=
"text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
52</P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Item 8</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="512" VALIGN="bottom" STYLE=
"width: 384.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Financial Statements and Supplementary
Data</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" ALIGN="center" STYLE=
"text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
53</P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Item 9</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="512" VALIGN="bottom" STYLE=
"width: 384.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Changes in and Disagreements With Accountants on
Accounting and Financial Disclosure</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" ALIGN="center" STYLE=
"text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
78</P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Item 9A</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="512" VALIGN="bottom" STYLE=
"width: 384.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Controls and Procedures</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" ALIGN="center" STYLE=
"text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
78</P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Item 9B</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="512" VALIGN="bottom" STYLE=
"width: 384.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Other Information</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" ALIGN="center" STYLE=
"text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
78</P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="512" VALIGN="bottom" STYLE=
"width: 384.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
PART III</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="512" VALIGN="bottom" STYLE=
"width: 384.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Item 10</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="512" VALIGN="bottom" STYLE=
"width: 384.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Directors, Executive Officers and Corporate
Governance</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" ALIGN="center" STYLE=
"text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
79</P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Item 11</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="512" VALIGN="bottom" STYLE=
"width: 384.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Executive Compensation</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" ALIGN="center" STYLE=
"text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
82</P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Item 12</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="512" VALIGN="bottom" STYLE=
"width: 384.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Security Ownership of Certain Beneficial Owners
and Management</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" ALIGN="center" STYLE=
"text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
82</P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Item 13</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="512" VALIGN="bottom" STYLE=
"width: 384.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Certain Relationships and Related
Transactions</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" ALIGN="center" STYLE=
"text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
82</P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Item 14</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="512" VALIGN="bottom" STYLE=
"width: 384.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Principal Accounting Fees and
Services</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" ALIGN="center" STYLE=
"text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
82</P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="512" VALIGN="bottom" STYLE=
"width: 384.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
PART IV</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="512" VALIGN="bottom" STYLE=
"width: 384.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Item 15</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="512" VALIGN="bottom" STYLE=
"width: 384.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Exhibits and Financial Statement
Schedules</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" ALIGN="center" STYLE=
"text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
83</P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="512" VALIGN="bottom" STYLE=
"width: 384.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="587" COLSPAN="3" VALIGN="top" STYLE=
"width: 440.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
SIGNATURES</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" ALIGN="center" STYLE=
"text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
84</P>
</TD>
</TR>
</TABLE>
<P CLASS="LRH" STYLE=
"margin-bottom: .0001pt; margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">PART I</FONT></P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">CAUTIONARY NOTICE
REGARDING FORWARD-LOOKING STATEMENTS:</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
This document and the documents incorporated by reference herein
include &#8220;forward-looking statements,&#8221; within the
meaning of Section 27A of the Securities Act of 1933, as amended
(the &#8220;Securities Act&#8221;), and Section 21E of the
Securities Exchange Act of 1934, as amended (the &#8220;Exchange
Act&#8221;), including, in particular, the statements about our
plans, strategies and prospects under the headings
&#8220;Management&#8217;s Discussion and Analysis of Financial
Condition and Results of Operations&#8221; and
&#8220;Business.&#8221; We have typically used the words
&#8220;may,&#8221; &#8220;will,&#8221; &#8220;expect,&#8221;
&#8220;believe,&#8221; &#8220;estimate,&#8221; &#8220;plan,&#8221;
&#8220;intend&#8221; and similar expressions in this document and
the documents incorporated by reference herein to identify
forward-looking statements. We have based these forward-looking
statements on our current views with respect to future events and
financial performance. Actual results could differ materially from
those projected in the forward-looking statements. These
forward-looking statements are subject to many risks, uncertainties
and assumptions, including, among other things:</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 13.0pt;">
&#8226;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
student enrollment;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 13.0pt;">
&#8226;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
our continued compliance with Title IV of the Higher Education Act
of 1965, as amended (the &#8220;Higher Education Act&#8221;), and
the regulations thereunder, as well as state regulatory
requirements and accrediting agency requirements;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 13.0pt;">
&#8226;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
changes in regulation of the U.S. education industry and
eligibility of proprietary schools to participate in U.S. federal
student financial aid programs;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 13.0pt;">
&#8226;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
risks related to the timing of regulatory approvals;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 13.0pt;">
&#8226;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
competitive factors;</P>
<P CLASS="BLm" STYLE=
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our ability to continue to implement our online growth
strategy;</P>
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risks associated with the opening of new campuses;</P>
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risks associated with the offering of new educational programs and
adapting to other program changes;</P>
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risks associated with the acquisition of educational
institutions;</P>
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risks associated with the ability of our students to finance their
education in a timely manner; and</P>
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&#8226;</FONT></FONT><FONT CLASS="bullet" STYLE=
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general economic and market conditions.</P>
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You should not put undue reliance on any forward-looking
statements. You should understand that many important factors,
including those discussed under the headings
&#8220;Management&#8217;s Discussion and Analysis of Financial
Condition and Results of Operations&#8221; and
&#8220;Business,&#8221; could cause our results to differ
materially from those expressed or suggested in any forward-looking
statements. Further information about these and other relevant
risks and uncertainties may be found in Item 1A (&#8220;Risk
Factors&#8221;) below and elsewhere in this Annual Report on Form
10-K and in our other filings with the Securities and Exchange
Commission. We undertake no obligation to update or revise
forward-looking statements, except as required by law.</P>
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References to &#8220;we,&#8221; &#8220;our&#8221; and the
&#8220;Company&#8221; refer to Strayer Education, Inc., together in
each case with our consolidated subsidiary Strayer University, but
do not include our new subsidiary, the New York Code and Design
Academy, unless the context suggests otherwise.</P>
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&nbsp;</P>
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<FONT CLASS="Bold" STYLE=
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1.</FONT><FONT CLASS="Bold" STYLE=
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"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
Business</FONT></P>
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<FONT CLASS="Bold" STYLE=
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Our company provides post-secondary education services. We offer a
variety of academic programs through two wholly-owned subsidiaries,
Strayer University (the &#8220;University&#8221;) and the New York
Code and Design Academy (&#8220;NYCDA&#8221;).</P>
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Founded in 1892, Strayer University is an institution of higher
learning that offers undergraduate and graduate degree programs in
business administration, accounting, information technology,
education, health services administration, nursing, public
administration, and criminal justice at 76 physical campuses,
predominantly located in the Mid-Atlantic and Southern regions of
the United States, and online. Strayer University also offers an
executive MBA online through its Jack Welch Management Institute.
For the 2015 fall term, we had 42,975 students enrolled in our
programs. Strayer University is accredited by the Middle States
Commission on Higher Education (&#8220;Middle States&#8221; or
&#8220;Middle States Commission&#8221;), one of the six regional
collegiate accrediting agencies recognized by the U.S. Department
of Education (&#8220;Department of Education&#8221;). Middle States
is located at 3624 Market Street, Philadelphia, PA 19104
(267-284-5000). By offering its programs both online and in
physical classrooms, the University provides its working adult
students more flexibility and convenience. Strayer University, with
its online offerings, attracts students from around the country and
throughout the world.</P>
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The New York Code and Design Academy provides non-degree courses in
web and application software development, primarily at its campus
in New York City. NYCDA is licensed by the New York Bureau of
Proprietary School Supervision, but is not accredited and does not
participate in state or federal student financial aid programs. We
acquired NYCDA on January 13, 2016, thus the acquisition did not
impact our 2015 results.</P>
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We generated net revenue of $434 million in 2015. For more
information regarding our revenues, profits and financial
condition, please refer to &#8220;Management&#8217;s Discussion and
Analysis of Financial Condition and Results of Operations&#8221;
and our consolidated financial statements included in this Annual
Report on Form 10-K.</P>
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<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Industry
Background</FONT></P>
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The market for post-secondary education is large and highly
fragmented. The U.S. Census Bureau has reported that approximately
62 million adults over the age of 25 in the United States do not
have more than a high school education and approximately 35 million
adults over the age of 25 have some college experience but no
college degree. Although demand for post-secondary education has
been reduced during the past few years, we believe that over time
the demand will increase as a result of demographic, economic and
social trends, including:</P>
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increasing demand by employers for certain types of professional
and skilled workers;</P>
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growth in the number of high school graduates from 2.8 million in
1999-2000 to an estimated 3.3 million in 2015-2016, according to
the National Center for Education Statistics;</P>
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the significant and measurable income premium and enhanced
employment prospects attributable to post-secondary education;
and</P>
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&#8226;</FONT></FONT><FONT CLASS="bullet" STYLE=
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a number of initiatives underway to reduce the cost of a
post-secondary education.</P>
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The adult education market is a significant component of the
post-secondary education market. We believe that the market for
post-secondary adult education should increase as working adults
seek additional education to update and improve their skills. In
addition, we believe that many working adults will seek degree
programs from regionally accredited institutions that provide
flexibility to accommodate the fixed schedules and time commitments
associated with their professional, family and personal
obligations.</P>
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According to the National Center for Education Statistics, in
2014-2015 there were 3,011 four-year degree-granting institutions
in the United States, including 701 public colleges and
universities, 1,584 not-for-profit colleges and universities, and
726 for-profit institutions.</P>
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Growth in the market for post-secondary education has recently been
negatively affected by weakness in the economy as well as by the
uncertainty associated with legislative and regulatory proposals.
Controversy about the cost of higher education and the
unemployment, or under-employment, of college graduates due to the
difficult economic conditions may also have caused some prospective
students to question the value proposition of higher education.
According to the National Student Clearinghouse Research Center,
college enrollments declined 1.3%</P>
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2</P>
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and 1.7% in fall 2014 and 2015, respectively. The industry is
heavily dependent on continued availability of funding for programs
under Title IV of the Higher Education Act (&#8220;Title IV
programs&#8221;) and concerns about potential reductions in such
funding also can reduce the level of growth.</P>
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<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Company
Strengths</FONT></P>
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Strayer University has been in operation since 1892 and has a track
record of providing practical and convenient education programs for
working adults. We believe the following strengths position us to
capitalize on the demand for post-secondary education:</P>
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<FONT CLASS="bullet" STYLE=
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&#8226;</FONT></I></B></FONT><FONT CLASS="bullet" STYLE=
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<FONT CLASS="BoldItalic" STYLE=
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Consistent operating history.</FONT> The University has been in
continuous operation since 1892 and has demonstrated an ability to
operate consistently and grow profitably.</P>
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&#8226;</FONT></I></B></FONT><FONT CLASS="bullet" STYLE=
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<FONT CLASS="BoldItalic" STYLE=
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Practical and diversified curricula.</FONT> We offer core curricula
in practical areas of adult education. In order to keep pace with a
changing knowledge-based economy, we constantly strive to meet the
evolving needs of our students and their current and prospective
employers by regularly refining, updating, and adding to our
portfolio of educational programs. In January 2016, we acquired
NYCDA, which offers high-demand non-degree courses in software
development. In December 2011, Strayer University acquired the Jack
Welch Management Institute, an online leadership education program
that enables us to offer a differentiated executive MBA degree and
executive certificates to students and employees of leading
corporations. Across Strayer University and NYCDA, we currently
offer approximately 90 different degree, diploma, certificate, and
non-degree training programs and concentrations.</P>
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&#8226;</FONT></I></B></FONT><FONT CLASS="bullet" STYLE=
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<FONT CLASS="BoldItalic" STYLE=
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Focus on adults pursuing career-relevant degree and non-degree
programs.</FONT> We focus on serving adults who are pursuing
undergraduate and graduate degrees as well as non-degree
certificates and training programs that will help them advance
their careers and employment opportunities.</P>
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&#8226;</FONT></I></B></FONT><FONT CLASS="bullet" STYLE=
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<FONT CLASS="BoldItalic" STYLE=
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Flexible program offerings.</FONT> We maintain flexible programs
that allow students to attend classes and complete coursework at
day, evening and weekend classes throughout the calendar year.
Online programs offered through Strayer University enable students
to take some or all of their classes via the Internet.
Approximately 71% of our students enrolled for the 2015 fall term
were taking all of their courses online.</P>
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&#8226;</FONT></I></B></FONT><FONT CLASS="bullet" STYLE=
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<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Attractive and convenient campus locations.</FONT> Our campuses are
located in growing metropolitan areas, mostly in the Mid-Atlantic
and Southern regions where there are large populations of adults
with demographic characteristics similar to those of our typical
students. Strayer University&#8217;s campuses are attractive and
modern, offering conducive learning environments in convenient
locations.</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><B><I><FONT STYLE="font-size: 13.0pt; font-family: TimesNewRomanPSStd-BoldIt;">
&#8226;</FONT></I></B></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><B><I><FONT STYLE="font-size: 8.5pt; font-family: TimesNewRomanPSStd-BoldIt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></I></B></FONT>
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Established brand name and alumni support.</FONT> With a 124-year
operating history, Strayer University is an established brand name
in post-secondary adult education, and our students and graduates
work throughout corporate America. Our alumni network fosters
additional referral opportunities for students.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Company
Strategy</FONT></P>
<P CLASS="Textind" STYLE=
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Our goal is to be a leading provider of career relevant education
programs, primarily in the areas of business, accounting,
information technology and software development, that prepare
students for advancement in their careers and professional lives.
We have identified the following strategic priorities as key to
achieving our goal:</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><B><I><FONT STYLE="font-size: 13.0pt; font-family: TimesNewRomanPSStd-BoldIt;">
&#8226;</FONT></I></B></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><B><I><FONT STYLE="font-size: 8.5pt; font-family: TimesNewRomanPSStd-BoldIt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></I></B></FONT>
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Improve student success</FONT> &#8212; Our success as a Company
depends on the success of our students. The more we focus on
helping our students succeed, the more likely it is that we will
succeed. In order to improve student success, we must continue to
hire outstanding faculty, individuals who are experts in their
fields and who are great at teaching. We must also offer high
quality course content that is relevant in today&#8217;s job
market.</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><B><I><FONT STYLE="font-size: 13.0pt; font-family: TimesNewRomanPSStd-BoldIt;">
&#8226;</FONT></I></B></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><B><I><FONT STYLE="font-size: 8.5pt; font-family: TimesNewRomanPSStd-BoldIt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></I></B></FONT>
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Enhance student experience</FONT> &#8212; Our students are
predominately working adults who are furthering their education in
order to advance their careers and professional lives. Our students
are busy with work and family responsibilities that leave little
time for other endeavors. Thus, we must make sure every interaction
with our students is a productive one. We are constantly looking
for ways to serve them better. This includes providing outstanding
service not only in the classroom, but also in areas such as
student advising, tutoring, registration, technology, and
administration. We measure our performance through student surveys
and focus groups.</P>
<P CLASS="RRH" STYLE=
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3</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><B><I><FONT STYLE="font-size: 13.0pt; font-family: TimesNewRomanPSStd-BoldIt;">
&#8226;</FONT></I></B></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><B><I><FONT STYLE="font-size: 8.5pt; font-family: TimesNewRomanPSStd-BoldIt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></I></B></FONT>
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Address affordability</FONT> &#8212; The cost of a post-secondary
education has increased substantially over the last ten years while
average earnings have failed to keep up. Recognizing that
affordability is an important factor in a prospective
student&#8217;s decision to further his or her education, in late
2013, we commenced an effort at Strayer University to make our
degree programs more affordable. In the 2013 summer academic term,
we introduced our Graduation Fund. Under this program, qualifying
students enrolled in a bachelor&#8217;s degree program are eligible
to receive one free course for every three courses successfully
completed towards a bachelor&#8217;s degree. The free courses
earned are redeemable in one&#8217;s final academic year.
Furthermore, beginning the winter term 2014, we reduced
undergraduate tuition for new students by 20%. We continue to
monitor and assess the impact of our affordability initiatives and
explore other ways to make our offerings as affordable as
possible.</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><B><I><FONT STYLE="font-size: 13.0pt; font-family: TimesNewRomanPSStd-BoldIt;">
&#8226;</FONT></I></B></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><B><I><FONT STYLE="font-size: 8.5pt; font-family: TimesNewRomanPSStd-BoldIt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></I></B></FONT>
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Establish new platforms for growth</FONT> <FONT CLASS="Italic"
STYLE="mso-style-name: Italic; font-style: italic;">&#8212;</FONT>
We are constantly exploring new avenues for growth. Like the
acquisition of the Jack Welch Management Institute in 2011, our
recent acquisition of NYCDA represents another significant
opportunity to leverage our operating track record and our physical
campus and online infrastructure. We continue to leverage the
strong reputation and track record of Strayer University to develop
new programs like the Bachelor of Science in Nursing degree, which
began enrolling new students in the fall 2015 academic term.</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><B><I><FONT STYLE="font-size: 13.0pt; font-family: TimesNewRomanPSStd-BoldIt;">
&#8226;</FONT></I></B></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><B><I><FONT STYLE="font-size: 8.5pt; font-family: TimesNewRomanPSStd-BoldIt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></I></B></FONT>
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Build a high performing culture &#8212;</FONT> In order to be a
leading provider of educational services, we must have talented and
motivated faculty and employees who are passionate about serving
students. We strive to attract the best talent and then develop and
retain them. We want to be known as an employer of choice and be a
place where one can build a long-term career.</P>
<P CLASS="H1" STYLE=
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<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Strayer
University</FONT></P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Curriculum</FONT></P>
<P CLASS="Textind" STYLE=
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Strayer University offers business, information technology and
professional curricula to equip students with specialized and
practical knowledge and skills for careers in business, industry
and government. Our academic leaders regularly review and revise
the University&#8217;s course offerings to improve our educational
programs and respond to competitive changes in job markets. We
regularly evaluate new programs and degrees to ensure that we stay
current with the needs of our students and their employers.</P>
<P CLASS="Textind" STYLE=
"margin-bottom: 10.0pt; mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">Strayer
University offers programs in the following areas:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 4%; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 44%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Graduate Programs</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 4%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 44%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Undergraduate Programs</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 12pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&bull;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Master of Business Administration (M.B.A.)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&bull;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Bachelor of Science (B.S.) Degree</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Degree</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Accounting</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 12pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&bull;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Jack Welch Executive Master of Business</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Information Systems</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-left: 24pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Administration (M.B.A.) Degree</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Information Technology</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 12pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&bull;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Master of Education (M.Ed.) Degree</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Economics</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 12pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&bull;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Master of Science in Health Services Administration</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Criminal Justice</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(M.S.H.S.A.) Degree</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&bull;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Bachelor of Business Administration (B.B.A.)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 12pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&bull;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Master of Public Administration (M.P.A.) Degree</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Degree</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 12pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&bull;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Master of Science (M.S.) Degree</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&bull;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Associate in Arts (A.A.) Degree</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Information Assurance</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Accounting</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Information Systems</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Acquisitions and Contract Management</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Accounting</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Business Administration</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Human Resource Management</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Information Systems</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Management</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Information Technology</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Economics</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Marketing</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&bull;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Diploma Program</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Acquisition and Contract Management</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&bull;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Certificate in Business Administration</FONT></TD></TR>
</TABLE>



<P CLASS="LRH" STYLE=
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4</P>
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Each undergraduate degree program includes courses in oral and
written communication skills as well as mathematics and various
disciplines in the humanities and social sciences. In addition to
our degree, diploma and certificate programs, we offer classes to
non-degree and non-program students wishing to take courses for
personal or professional enrichment.</P>
<P CLASS="Textind" STYLE=
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Although all of our programs are generally offered at our campuses
and online, the University adapts its course offerings to the
demands of the student population at each location. Strayer
University students may enroll in courses at more than one campus
and take courses online.</P>
<P CLASS="Textind" STYLE=
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<FONT STYLE="letter-spacing: -.15pt;">Strayer University structures
its curricula to allow students to advance sequentially from one
learning level to another by applying credits earned in one program
toward attainment of a more advanced degree. For example, a student
originally pursuing an associate&#8217;s degree in information
systems can extend his or her original educational objective by
taking additional courses leading to a bachelor&#8217;s degree in
information systems, and ultimately a master&#8217;s degree in
information systems. This curriculum design provides students a
level of competency and a measure of attainment in the event they
interrupt their education or choose to work in their field of
concentration prior to obtaining their final degree.</FONT></P>
<P CLASS="H2" STYLE=
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<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Online</FONT></P>
<P CLASS="Textind" STYLE=
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In August 1997, the University began offering classes online.
Students may take classes online using either a synchronous
(&#8220;real time&#8221;) or asynchronous (&#8220;on demand&#8221;)
format. The asynchronous format was first introduced by the
University in the summer 2001 academic term and has grown
significantly due to increasing demand. Currently, almost all
students taking classes online choose the asynchronous format.
Students may take all of their courses online or may take online
courses in combination with classroom-based courses. A student
taking classes online has the same admission and financial aid
requirements, is subject to substantially the same policies and
procedures, and receives the same student services and support as
campus-based Strayer University students. Tuition for online
courses is the same as campus-based courses.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Faculty</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The University appoints faculty who hold appropriate academic
credentials, are dedicated, active professionals in their field,
and are enthusiastic and committed to teaching working adults. In
accordance with our educational mission, the University faculty
focuses its efforts on teaching. The normal course load for a
full-time faculty member is five courses per quarter for each of
three quarters, or 15 courses per academic year. Further, many
full-time faculty members participate actively in the University by
providing leadership, curriculum, setting academic policy, and
serving on assessment committees.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We provide financial support for faculty members seeking to enhance
their skills and knowledge. The University maintains a professional
development funding program that reimburses eligible faculty and
deans for completing courses, continuing education, seminars, and
various programs that enhance their current credentials and
knowledge base to improve their content expertise. Full-time
faculty (and all other full-time employees) receive a 90% discount
for all Strayer University courses. The University also conducts
annual in-house faculty workshops in each discipline. We believe
that our dedicated and capable faculty is one of the keys to our
success.</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
5</P>
<P CLASS="H1" ALIGN="left" STYLE=
"text-align: left; mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Organization of Strayer
University</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Overall academic and business decisions of the University,
including review and approval of the annual financial budget, are
directed by its Board of Trustees. The Board of Trustees consists
of Dr. Charlotte F. Beason, Chairwoman, and currently eight other
members. The University By-Laws prescribe that a majority of
members be independent from the University and Strayer Education,
Inc. to assure independent oversight of all academic programs and
services. Of the nine members, five are independent from the
University and Strayer Education, Inc. The current Trustees are
listed below:</P>
<P CLASS="H1" STYLE=
"margin-bottom: 10.0pt; mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Board of
Trustees</FONT></P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="211" VALIGN="top" STYLE=
"width: 2.2in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Dr. Charlotte F. Beason</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="413" VALIGN="bottom" STYLE=
"width: 4.3in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Dr. Beason is the Chairwoman of the Board of
Trustees. She has served as a member of the Board of Trustees since
1996. She has extensive experience in education, distance learning,
and the accreditation of education programs. (See Item 10 below for
additional biographical information.)</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="211" VALIGN="top" STYLE=
"width: 2.2in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="413" VALIGN="bottom" STYLE=
"width: 4.3in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="211" VALIGN="top" STYLE=
"width: 2.2in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Mr. Mark C. Brown</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="413" VALIGN="bottom" STYLE=
"width: 4.3in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Mr. Brown is Vice Chairman of the Board of
Trustees. In 2015, he retired from his role as Executive Vice
President and Chief Financial Officer of Strayer Education, Inc., a
position he held for 14 years, and joined the University&#8217;s
Board of Trustees. Mr. Brown was previously the Chief Financial
Officer of the Kantar Group, the information and consultancy
division of WPP Group, a multi-national communications services
company. Prior to that, for nearly 12 years, Mr. Brown held a
variety of management positions at PepsiCo, Inc., including
Director of Corporate Planning for Pepsi Bottling Group and
Business Unit Chief Financial Officer for Pepsi-Cola International.
Mr. Brown is a Certified Public Accountant who started his career
with PricewaterhouseCoopers, LLP. Mr. Brown holds a
bachelor&#8217;s degree in accounting from Duke University and a
master&#8217;s degree in business administration from Harvard
University.</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="211" VALIGN="top" STYLE=
"width: 2.2in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="413" VALIGN="bottom" STYLE=
"width: 4.3in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="211" VALIGN="top" STYLE=
"width: 2.2in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Dr. Jonathan Gueverra*</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="413" VALIGN="bottom" STYLE=
"width: 4.3in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Dr. Gueverra was elected to the Board of
Trustees in 2012. He now serves as the President and Chief
Executive Officer of Florida Keys Community College. Prior to this
appointment, he was the founding Chief Executive Officer of the
Community College of the District of Columbia, the first community
college in Washington, D.C. With over 25 years of higher education
experience, Dr. Gueverra has served in a variety of administrative
and faculty positions in two-year and four-year colleges and
<FONT STYLE="letter-spacing: -.05pt;">universities along the
nation&#8217;s east coast. In 2015, he was elected to the</FONT>
board of trustees for the Southern Association of Schools and
Colleges, Commission on Colleges. Prior to this, he served as a
member of the board of the American Association for Community
Colleges and co-chaired the Commission on Workforce Development. In
addition, Dr. Gueverra serves on the Steering Committee and the
Communications Committee for the Council of Presidents for the
Florida College System. Dr. Gueverra holds an associate degree from
Newbury College, a bachelor&#8217;s degree from Providence College,
and a master&#8217;s degree in business administration and a
doctorate in education both from the University of
Massachusetts.</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="211" VALIGN="top" STYLE=
"width: 2.2in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="413" VALIGN="bottom" STYLE=
"width: 4.3in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="211" VALIGN="top" STYLE=
"width: 2.2in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Mr. Brian W. Jones</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="413" VALIGN="bottom" STYLE=
"width: 4.3in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Mr. Jones was elected to the Board of Trustees
in 2015 as an ex officio member and has served as Strayer
University President since 2015. Mr. Jones joined Strayer
University in 2012 as the General Counsel. (See Item 10 below for
additional biographical information.)</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="211" VALIGN="top" STYLE=
"width: 2.2in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="413" VALIGN="bottom" STYLE=
"width: 4.3in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="211" VALIGN="top" STYLE=
"width: 2.2in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Mr. Todd A. Milano</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="413" VALIGN="bottom" STYLE=
"width: 4.3in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Mr. Milano has served as a member of the Board
of Trustees since 1992 and has more than 30 years of experience in
post-secondary education. He is President Emeritus and Ambassador
for Central Penn College, where he has devoted his entire
professional career, having served as President and Chief Executive
Officer from 1989 to 2012. (See Item 10 below for additional
biographical information.)</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="211" VALIGN="top" STYLE=
"width: 2.2in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="413" VALIGN="bottom" STYLE=
"width: 4.3in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
</TABLE>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
6</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="211" VALIGN="top" STYLE=
"width: 2.2in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Dr. William C. Reha, MD*</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="413" VALIGN="bottom" STYLE=
"width: 4.3in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Dr. Reha has served as a member of the Board of
Trustees since 2007 and is Chair of its Alumni and Student Affairs
Committee. He is a Board Certified Urologic Surgeon in Woodbridge,
Virginia. Dr. Reha is active in Strayer University alumni affairs
and is the 2005 Outstanding Alumni Award winner. Dr. Reha has
served as President of the Prince William County Medical Society,
the Potomac Hospital Medical Staff, and the Virginia Urological
Society. He was also Speaker and is the immediate former President
of the Medical Society of Virginia. He serves on the Virginia
Delegation to the American Medical Association and is a State
Society Network Representative for the American Association of
Clinical Urologists. Dr. Reha is a Fellow of the Claude Moore
Physician Leadership Institute and holds a bachelor&#8217;s degree
in biochemistry from Binghamton University, an M.D. from New York
Medical College, and a master&#8217;s in business administration
from Strayer University. He completed his residency in
Surgery/Urology at Georgetown University.</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="211" VALIGN="top" STYLE=
"width: 2.2in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="413" VALIGN="bottom" STYLE=
"width: 4.3in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="211" VALIGN="top" STYLE=
"width: 2.2in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Dr. Peter D. Salins*</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="413" VALIGN="bottom" STYLE=
"width: 4.3in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Dr. Salins has served as a member of the Board
of Trustees since 2002 and is Chair of its Curriculum and
Assessment Committee. Having served as Provost and Vice Chancellor
for Academic Affairs of the State University of New York (SUNY)
system from 1997 to 2006, he is currently University Professor of
Political Science at SUNY&#8217;s Stony Brook University and
Director of its graduate program in public policy. Dr. Salins is a
Fellow of the American Institute of Certified Planners and a
Director of the Citizens Housing and Planning Council of New York.
Dr. Salins holds a bachelor&#8217;s degree in architecture, a
master&#8217;s degree in regional planning and a doctorate in
metropolitan studies and regional planning, all from Syracuse
University.</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="211" VALIGN="top" STYLE=
"width: 2.2in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="413" VALIGN="bottom" STYLE=
"width: 4.3in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="211" VALIGN="top" STYLE=
"width: 2.2in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Dr. Carol Shapiro, MD*</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="413" VALIGN="bottom" STYLE=
"width: 4.3in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Dr. Shapiro was elected to the Board of Trustees
in 2015. Dr. Shapiro, a plastic surgeon, is the Medical Director of
the Wound Healing Center of Sentara Northern Virginia Medical
Center. She has served as President of the medical staff of the two
hospitals in the county in which she practices.&nbsp; She has also
served as President of the Prince William County Medical Society
and was the first woman to be elected President of the Medical
Society of Virginia.&nbsp; She chaired the Virginia Delegation of
the American Medical Society.&nbsp;&nbsp; Dr. Shapiro served as
President of the National Capital Society of Plastic Surgeons, and
was appointed to serve on the Ethics and Judicial Committees of the
American Society of Plastic Surgeons. Additionally, she has served
on the Board of Trustees of the Prince William Hospital and Potomac
Hospital.&nbsp; Currently, she is the Vice Chair of the Potomac
Health Foundation and Chair of the Grants Committee, and serves on
the Board of Trustees of Sentara Northern Virginia Medical
Center.&nbsp; Dr. Shapiro did her undergraduate work at the
University of Pittsburgh and earned her MD at the Woman&#8217;s
Medical College in Philadelphia. After completing a residency in
General Surgery and Plastic Surgery at Georgetown University, she
started a solo practice in Woodbridge, Virginia. For several years,
Dr. Shapiro was a Clinical Instructor at Georgetown University
Department of Plastic Surgery.&nbsp; In 1996, she earned&nbsp; an
MBA from George Mason University.</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="211" VALIGN="top" STYLE=
"width: 2.2in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="413" VALIGN="bottom" STYLE=
"width: 4.3in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="211" VALIGN="top" STYLE=
"width: 2.2in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Dr. J. Chris Toe*</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="413" VALIGN="bottom" STYLE=
"width: 4.3in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Dr. Toe has served as a member of the Board of
Trustees since 2003. He served as President of Strayer University
from 2003 to April 2006 and as Minister of Agriculture of the
Republic of Liberia from 2006 to 2009. Dr. Toe now serves as
Executive Chairman of Agrifore Advisory &amp; Investment Services
(AAIS), Incorporated in Liberia and Senior Advisor for Country
Strategic Planning for the World Food Programme in Rome, Italy. Dr.
Toe holds a bachelor&#8217;s degree in economics from the
University of Liberia, and a master&#8217;s degree in agricultural
economics and a doctorate in economics, both from Texas Tech
University.</FONT></P>
</TD>
</TR>
</TABLE>
<P CLASS="Tablefootnotef" STYLE=
"margin-top: 0in; line-height: normal; border: none; mso-style-name: Tablefootnote_f; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -20.0pt; text-autospace: none; padding: 0in; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
____________</P>
<P CLASS="Tablefootnotef" STYLE=
"margin-top: 0in; line-height: normal; border: none; mso-style-name: Tablefootnote_f; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -20.0pt; text-autospace: none; padding: 0in; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
*<FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
Independent member.</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
7</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Within the academic, strategic and financial parameters set by the
Board of Trustees, the University is managed on a daily basis by
the University President. The President is charged with the
responsibility of overseeing the implementation of the policies
established by the Board of Trustees and is supported in this
function by senior administrative officers, including the Chief
Academic Officer and the Chief Operating Officer of the University.
The majority of the University&#8217;s operations are centralized
within the President&#8217;s Office or the University&#8217;s
senior administrative staff offices. These operations include
academic programs, academic intelligence, academic services,
student affairs, accounting and auditing, human resources,
operations, marketing, public relations, facilities, information
technology, and regulatory compliance, including oversight of the
University&#8217;s participation in federal student financial aid
programs.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Within this centralized structure, responsibilities fit within the
purview of either the Chief Academic Officer or the Chief Operating
Officer, both of whom report to the University President. The
senior administrative officers that support the Chief Academic
Officer in performing academic functions include six Academic
Program Directors, a Vice President of Student and Faculty
Resources, a Vice President of Student Affairs, a Vice President of
Institutional Research, and a Vice President for Content. Together,
these individuals are responsible for faculty hiring and
management, curriculum development, policy oversight, and student
learning outcomes. Each academic function receives further support
from the University Registrar.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Operational functions including Student Financial Services,
Information Technology, and campus operations are the primary
responsibility of the Chief Operating Officer of the University.
Other senior administrative officers also support the President in
areas such as legal compliance, accounting and auditing, computer
technology, insurance and human resources. All of the senior
administrative officers collaborate to ensure that University
operations meet the annual budget established by the Board of
Trustees and all applicable regulatory requirements.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">University Senior
Management</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Brian Jones is University President. His biographical information
is set forth in Item 10 below. At the regional and campus levels,
the academic functions are overseen by the Regional Vice Provost
and an Academic Services Administrator. Day-to-day business
operations are managed by a Campus Manager. Campuses are staffed
with personnel performing academic advising, financial aid, student
services, admissions and career development functions. A learning
resource center at each campus supports the University&#8217;s
instructional programs. Each learning resource center contains a
library and computer laboratories and is operated by a full-time
manager and support staff who assist students in the use of
research resources.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Strayer Education, Inc.
Executive Officers</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
For a description of Strayer Education, Inc.&#8217;s senior
management, see the biographical information set forth in Item 10
below.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Outreach</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
To identify potential students, we engage in a broad range of
activities to inform working adults and their employers about the
programs offered at Strayer University. These activities include
direct and digital marketing, marketing to our existing students
and graduates, print and broadcast advertising, student referrals,
and corporate and government outreach activities. Direct response
methods (direct and digital marketing) are used to generate
inquiries from potential students. Strayer University maintains
booths and information tables at appropriate conferences and expos,
as well as at transfer days at community colleges. We also depend
on the recommendation of our alumni network to maintain and enhance
Strayer University&#8217;s reputation and promote its quality
education. Our business-to-business outreach efforts include
personal telephone calls, distribution of information through
corporate intranets and human resource departments, and on-site
information meetings. We record inquiries in our database and track
them through to application and registration. Additionally, we
provide information about new programs to students and alumni to
encourage them to return for further education.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Student
Profile</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The majority of Strayer University students are working adults
completing their first college degree to improve their job skills
and advance their careers. Of the students enrolled in Strayer
University&#8217;s programs at the beginning of the 2015 fall
quarter, approximately 66% were age 31 or older and approximately
85% were engaged in part-time study (fewer than three courses each
quarter for undergraduate students and fewer than two for graduate
students).</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
8</P>
<P CLASS="Textind" STYLE=
"text-indent: 0in; mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
In the 2015 fall quarter, our undergraduate students registered for
an average of approximately two courses and our graduate students
for an average of approximately one course.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Strayer University has a very diverse student population. At the
beginning of the 2015 fall quarter, approximately 76% of students
reporting ethnicity were minorities and approximately 65% of
students were women. Approximately 1% of the University&#8217;s
students were international, and approximately 1% were active duty
military personnel. Strayer University prides itself on making
post-secondary education accessible to working adults who were
previously unable to take advantage of educational
opportunities.</P>
<P CLASS="Textind" STYLE=
"margin-bottom: 10.0pt; mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The following is a breakdown of Strayer University students by
program level as of the 2015 fall term:</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
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<TR>
<TD WIDTH="454" VALIGN="bottom" STYLE=
"width: 340.8pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCHleft" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH_left; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">Program</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="61" VALIGN="bottom" STYLE=
"width: 46.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">Number of<BR>
&nbsp;students</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="73" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 55.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">Percentage of total students</FONT></FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="454" VALIGN="bottom" STYLE=
"width: 340.8pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Bachelor&#8217;s</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="61" VALIGN="bottom" STYLE=
"width: 46.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
26,324</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="60" VALIGN="bottom" STYLE=
"width: 45.35pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
61</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
</TR>
<TR>
<TD WIDTH="454" VALIGN="bottom" STYLE=
"width: 340.8pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Master&#8217;s</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="61" VALIGN="bottom" STYLE=
"width: 46.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
13,147</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="60" VALIGN="bottom" STYLE=
"width: 45.35pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
30</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
</TR>
<TR>
<TD WIDTH="454" VALIGN="bottom" STYLE=
"width: 340.8pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Associate</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="61" VALIGN="bottom" STYLE=
"width: 46.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
3,270</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="60" VALIGN="bottom" STYLE=
"width: 45.35pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
8</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
</TR>
<TR>
<TD WIDTH="454" VALIGN="bottom" STYLE=
"width: 340.8pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind2" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_2"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 30.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Total Degree</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="61" VALIGN="bottom" STYLE=
"width: 46.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
42,741</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="60" VALIGN="bottom" STYLE=
"width: 45.35pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
99</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
</TR>
<TR>
<TD WIDTH="454" VALIGN="bottom" STYLE=
"width: 340.8pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Diploma</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="61" VALIGN="bottom" STYLE=
"width: 46.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
17</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="60" VALIGN="bottom" STYLE=
"width: 45.35pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
*</P>
</TD>
</TR>
<TR>
<TD WIDTH="454" VALIGN="bottom" STYLE=
"width: 340.8pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Undergraduate Certificate</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="61" VALIGN="bottom" STYLE=
"width: 46.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
13</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="60" VALIGN="bottom" STYLE=
"width: 45.35pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
*</P>
</TD>
</TR>
<TR>
<TD WIDTH="454" VALIGN="bottom" STYLE=
"width: 340.8pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Graduate Certificate</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="61" VALIGN="bottom" STYLE=
"width: 46.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;&nbsp;&nbsp;&nbsp; 6</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="60" VALIGN="bottom" STYLE=
"width: 45.35pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
*</P>
</TD>
</TR>
<TR>
<TD WIDTH="454" VALIGN="bottom" STYLE=
"width: 340.8pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Undeclared</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="61" VALIGN="bottom" STYLE=
"width: 46.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
198</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="60" VALIGN="bottom" STYLE=
"width: 45.35pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
*</P>
</TD>
</TR>
<TR>
<TD WIDTH="454" VALIGN="bottom" STYLE=
"width: 340.8pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind2" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_2"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 30.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Total Non-Degree</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="61" VALIGN="bottom" STYLE=
"width: 46.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
234</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="60" VALIGN="bottom" STYLE=
"width: 45.35pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
1</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
</TR>
<TR>
<TD WIDTH="454" VALIGN="bottom" STYLE=
"width: 340.8pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind2" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_2"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 30.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Total Students</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="61" VALIGN="bottom" STYLE=
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<P CLASS="Tbodyrule2" STYLE=
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42,975</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
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</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
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</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="60" VALIGN="bottom" STYLE=
"width: 45.35pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
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100</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
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%</P>
</TD>
</TR>
</TABLE>
<P CLASS="Tablefootnotef" STYLE=
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____________</P>
<P CLASS="Tablefootnotef" STYLE=
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*&#8194;Represents less than 1%.</P>
<P CLASS="Textind" STYLE=
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Our business is seasonal and as a result, our quarterly results of
operations tend to vary within the year due to student enrollment
patterns. Enrollment generally is lowest in the third quarter, or
summer term.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Student
Admissions</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Students attending Strayer University&#8217;s undergraduate
programs must possess a high school diploma or a General
Educational Development (GED) Certificate. Students attending
Strayer University&#8217;s graduate programs must have a
bachelor&#8217;s degree from an accredited institution and meet
certain other requirements. If a student&#8217;s undergraduate
major varies widely from the student&#8217;s proposed graduate
course of study, certain undergraduate prerequisite courses may
also be necessary for admission. To maximize undergraduate
students&#8217; chances for academic success and to ensure they
receive the support they need, Strayer University evaluates
incoming students&#8217; proficiency in fundamental English and
math prior to the first quarter&#8217;s registration.</P>
<P CLASS="Textind" STYLE=
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International students applying for admission must meet the same
admission requirements as other students. Those students whose
native language is not English must provide evidence that they are
able to use the English language with sufficient facility to
perform college-level work in an English-speaking institution.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Tuition and
Fees</FONT></P>
<P CLASS="Textind" STYLE=
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Strayer University charges tuition by the course. Tuition rates may
vary in states with specific regulations governing tuition costs.
Each course is 4.5 credit hours. As of January 1, 2016,
undergraduate students who were new to the University after January
1, 2014 are charged $1,420 per course. Undergraduate students who
initially enrolled at Strayer prior to January 1, 2014 are charged
$1,700 per course if the student attends on a full-time basis or
$1,775 per course if the student attends on a part-time basis. As
of January 1, 2016, graduate students who were new to the
University after January 1, 2015 are charged at a rate of $2,450
per course while all other graduate students are charged at a rate
of $2,325 per course. For the Jack Welch Management Institute,
students who were new as of July 1, 2014 are charged at a rate of
$3,250 per course; new as of July 1, 2013 at a rate of $3,000 per
course; and new prior to July 1, 2013 at a rate of $2,580 per
course. Under a variety of different programs and in connection
with various corporate and government sponsorship and tuition
reimbursement arrangements, Strayer University offers scholarships
and tuition discounts to students. One of these programs, the
Graduation Fund, offers a student in a bachelor&#8217;s program an
opportunity to earn up to a 25% reduction of the tuition required
for a degree. A new undergraduate student seeking to obtain a
bachelor&#8217;s degree in four years and who was eligible for our
Graduation fund would currently pay on average approximately
$11,000 per year in tuition.</P>
<P CLASS="RRH" STYLE=
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9</P>
<P CLASS="H2" STYLE=
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<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Career Development
Services</FONT></P>
<P CLASS="Textind" STYLE=
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<FONT STYLE="letter-spacing: -.15pt;">Although most of Strayer
University&#8217;s students are already employed, the University
actively assists its students and alumni with career-related
matters. The focus for Career Services at Strayer University is to
provide career guidance and resources to assist students and alumni
in reaching their educational and professional goals. Services are
delivered through various media including online, in person,
recorded video, books, periodicals, and by telephone. The services
provided include career webinars, recorded seminars, career
teleconferences, career advising and resume review.</FONT></P>
<P CLASS="Textind" STYLE=
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We regularly conduct alumni surveys to monitor the career
progression of our graduates and to support outcome assessment
efforts required by Middle States and state regulators.</P>
<P CLASS="H2" STYLE=
"margin-top: 11.0pt; mso-style-name: H2; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Employees</FONT></P>
<P CLASS="Textind" STYLE=
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As of December 31, 2015, we had a total of 1,401 full-time
employees including 273 full-time faculty members and 1,128
non-faculty staff. Full-time faculty members teach on average 4-5
courses per quarter. The balance of classes are taught by adjunct
faculty who normally teach 1-2 courses per quarter. Although we had
approximately 1,600 adjunct faculty, not all of them teach every
quarter. In the 2015 fall quarter, approximately 25% of our courses
were taught by full-time faculty. Because we are not a research
university, all faculty members are expected to spend their time
teaching and advising students. In addition to our faculty, our
non-faculty staff, including 63 part-time employees, serve in the
areas of information systems, financial aid, recruitment and
admissions, student administration, marketing, human resources,
corporate accounting, and other administrative functions.</P>
<P CLASS="H2" STYLE=
"margin-top: 11.0pt; mso-style-name: H2; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Intellectual
Property</FONT></P>
<P CLASS="Textind" STYLE=
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In the ordinary course of business, we develop many kinds of
intellectual property that are or will be the subject of copyright,
trademark, service mark, patent, trade secret or other protections.
Such intellectual property includes, but is not limited to, our
courseware materials for classes taught online or other
distance-learning means and business know-how and internal
processes and procedures developed to respond to the requirements
of our operations and various education regulatory agencies. We
also claim rights to certain marks, and have obtained federal
registration of the marks, including the mark &#8220;STRAYER&#8221;
for educational services.</P>
<P CLASS="H2" STYLE=
"margin-top: 11.0pt; mso-style-name: H2; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Competition</FONT></P>
<P CLASS="Textind" STYLE=
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The higher education industry is highly competitive, but with no
single participant possessing a significant market share. We
compete for students with traditional public and private two-year
and four-year degree-granting accredited colleges and universities,
other proprietary degree-granting accredited schools and also
alternatives to higher education. In addition, we face competition
from various nontraditional, credit-bearing and noncredit-bearing
education programs, provided by both proprietary and not-for-profit
providers, including massive open online courses offered worldwide
without charge by traditional educational institutions and other
direct-to-consumer education services. As the proportion of
traditional colleges providing alternative learning modalities
increases, we will face increasing competition for students from
traditional colleges, including colleges with well-established
reputations for excellence. As the online and distance learning
segment of the post-secondary education market matures, we believe
that the intensity of the competition we face will continue to
increase.</P>
<P CLASS="Textind" STYLE=
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We believe the key factors affecting our competitive position
include the quality of the programs offered, the quality of other
services provided to students, our reputation among students and in
the general marketplace, the cost and perceived value of our
offerings, the employment rate and terms of employment for our
graduates, the ease of access to our offerings, the quality and
reputation of our faculty and other employees, the quality of our
campus facilities and online platform, the time commitment required
to complete our program and obtain a degree, the quality and size
of our alumni base, and our relationship with other learning
institutions.</P>
<P CLASS="H2" STYLE=
"margin-top: 11.0pt; mso-style-name: H2; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Regulation</FONT></P>
<P CLASS="H3ind" STYLE=
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<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Regulatory Environment</FONT></P>
<P CLASS="Textind" STYLE=
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<FONT STYLE="letter-spacing: -.05pt;">As an institution of higher
education accredited by Middle States and operating in multiple
jurisdictions, Strayer University is subject to accreditation rules
and varying state licensing and regulatory requirements. In
addition, the federal Higher Education Act and the regulations
promulgated thereunder require all higher education institutions
that participate in the various Title IV programs, including
Strayer University, both to comply with detailed
substantive</FONT></P>
<P CLASS="LRH" STYLE=
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10</P>
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<FONT STYLE="letter-spacing: -.05pt;">and reporting requirements
and to undergo periodic regulatory scrutiny. The Higher Education
Act mandates specific regulatory responsibility for each of the
following components of the higher education regulatory triad: (1)
the institutional accrediting agencies recognized by the U.S.
Secretary of Education (&#8220;Secretary of Education&#8221;); (2)
state education regulatory bodies; and (3) the federal government
through the Department of Education. The regulations, standards and
policies of these regulatory agencies are subject to frequent
change.</FONT></P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Accreditation</FONT></P>
<P CLASS="Textind" STYLE=
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Strayer University has been institutionally accredited since 1981
by Middle States, a regional accrediting agency recognized by the
Secretary of Education. Strayer University&#8217;s current period
of accreditation by Middle States extends through 2017.
Accreditation is a system for recognizing educational institutions
and their programs for integrity, educational quality, faculty,
physical resources, administrative capability and financial
stability that signifies that they merit the confidence of the
educational community and the public. In the United States, this
recognition comes primarily through private voluntary associations
of institutions and programs of higher education. These
associations establish criteria for accreditation, conduct
peer-review evaluations of institutions and programs, and publicly
designate those institutions that meet their standards. Accredited
schools are subject to periodic review by accrediting bodies to
determine whether such schools maintain the performance, integrity
and quality required for accreditation.</P>
<P CLASS="Textind" STYLE=
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Middle States accredits degree-granting public and private colleges
and universities in its region (including Delaware, Washington,
D.C., Maryland, New Jersey, New York, Pennsylvania, Puerto Rico and
the U.S. Virgin Islands), including distance education programs
offered by those institutions. Accreditation by Middle States is an
important attribute of Strayer University. Colleges and
universities depend on accreditation in evaluating transfers of
credit and applications to graduate schools. Employers rely on the
accreditation status of institutions when evaluating a
candidate&#8217;s credentials or considering tuition reimbursement
programs. Students rely on accreditation status for assurance that
an institution maintains quality educational standards.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
In order for institutions to be eligible to participate in federal
student financial assistance programs, they must be accredited by
an institutional accreditor recognized by the Department of
Education. The Higher Education Act charges the National Advisory
Committee on Institutional Quality and Integrity
(&#8220;NACIQI&#8221;) with recommending to the Secretary of
Education which accrediting or state approval agencies should be
recognized as reliable authorities for judging the quality of
post-secondary institutions and programs. In December 2014, NACIQI
renewed its recognition of Middle States through fall 2017.</P>
<P CLASS="Textind" STYLE=
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As with all its regulatory relationships, Strayer University
strives to maintain close contact with, and to provide frequent
status updates to, Middle States regarding matters pertinent to
accrediting standards and policies. This regular contact keeps
Middle States informed of the University&#8217;s planned activities
and aims to ensure that the University&#8217;s performance
continues to meet Middle States&#8217; expectations. To this end,
Strayer University is committed to evaluating periodically its own
performance, submitting reports to Middle States and making any
necessary improvements to continue meeting Middle States&#8217;
accreditation standards as the University grows and expands
geographically. If an institution&#8217;s performance were ever not
to meet its accrediting agency&#8217;s (or other regulator&#8217;s)
expectations or applicable standards, then its operations could be
conditioned, severely constrained or even curtailed, depending on
the severity of the non-compliance.</P>
<P CLASS="Textind" STYLE=
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Accordingly, Strayer University endeavors proactively to keep
Middle States (and all of its other regulators) fully informed and
satisfied with its performance and strives to maintain good
regulatory relationships as a key University priority. Beginning in
2013, Middle States undertook a review of its accreditation
standards and, in June 2014, approved revised accreditation
standards. Both accreditation standards remain in effect, and
Middle States will begin measuring some institutions against the
revised standards starting with the 2016-2017 institutional
evaluations, but institutions scheduled for evaluations during that
time frame were given the opportunity to proceed under either set
of standards. Strayer&#8217;s next evaluation, which commenced with
a self-study begun in spring 2015, will proceed under the
accreditation standards in place prior to the revision.</P>
<P CLASS="Textind" STYLE=
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In 2006, Strayer University completed a comprehensive self-study
report, which was submitted to Middle States in support of Strayer
University&#8217;s request for early reaffirmation of accreditation
prior to Middle States&#8217; next scheduled accreditation review
in 2011. Our objective is to provide a high quality post-secondary
education to working adult students, and participation in academic
peer review processes is an important way to help us meet that
objective. Middle States reviewed Strayer University&#8217;s report
and on June 28, 2007, reaffirmed Strayer University&#8217;s</P>
<P CLASS="RRH" STYLE=
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11</P>
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accreditation for 10 years through 2017. In accordance with Middle
States&#8217; accreditation standards, every accredited institution
must file a periodic review report at the mid-point between its
decennial evaluations. Strayer University filed its periodic review
report on May 15, 2012, demonstrating that the institution
continues to meet Middle States&#8217; standards. At its regular
meeting on November 15, 2012, Middle States accepted the Periodic
Review Report and reaffirmed Strayer University&#8217;s
accreditation. Strayer University subsequently filed a progress
report in November 2013, and the next evaluation visit is scheduled
for 2016-2017. All of Strayer University&#8217;s substantive
changes require prior Middle States approval.</P>
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In 2000, the agencies that accredit higher education institutions
in various regions of the United States adopted a Policy Statement
on Evaluation of Institutions Operating Interregionally. Under that
policy, both the home regional accreditor and the host regional
accreditor cooperate to evaluate an institution that delivers
education at a physical site in the host accreditor&#8217;s region.
Although the home region is solely responsible for final
accreditation actions, as we open campuses in regions outside
Middle States&#8217; region, the host regional accreditors may
elect to participate in the accreditation process of such expansion
operations.</P>
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In addition to our institutional accreditation, we have obtained
specialized or programmatic accreditation, or professional
recognition, from the following organizations for specific
programs: The Accreditation Council for Business Schools and
Programs, The Society for Human Resource Management, The National
Security Agency&#8217;s Committee on National Security Systems, and
the Council for the Accreditation of Educator Preparation (formerly
the Teacher Education Accreditation Council).</P>
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<FONT CLASS="BoldItalic" STYLE=
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State Education Licensure</FONT></P>
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<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Licensure of Physical
Campuses</FONT></P>
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Strayer University is required by the federal Higher Education Act
and certain state laws to be legally authorized to provide
educational programs in the states in which the University is
physically located. We are authorized to offer our programs by the
applicable educational regulatory agencies in all states where our
physical campuses and online delivery facilities are located. We
are dependent upon the authorization of each state where we are
physically located to allow us to operate and to grant degrees,
diplomas or certificates to students in those states. We are
subject to extensive regulation in each jurisdiction in which our
campuses are located, including in 2015: Alabama, Arkansas,
Delaware, Florida, Georgia, Louisiana, Maryland, Mississippi, New
Jersey, North Carolina, Pennsylvania, South Carolina, Tennessee,
Texas, Virginia, West Virginia, and Washington, D.C. We will be
subject to similar extensive regulation in those additional states
in which we may expand our operations in the future. State laws and
regulations affect our operations and may limit our ability to
introduce educational programs or establish new campuses. At the
end of 2013, we implemented a restructuring intended to better
align our resources with our current student enrollments, and
have closed campus locations in eight states, including Louisiana in 2015.</P>
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On October 29, 2010, the Department of Education adopted new
regulations, effective July 1, 2011, that set new requirements for
state authorization for purposes of Title IV eligibility. We
believe that every state above in which Strayer is authorized has
processes in place that comply with these new requirements.</P>
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<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Licensure of Online
Programs</FONT></P>
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The increasing popularity and use of the Internet and other
technology for the delivery of education has led, and may continue
to lead, to the adoption of new laws and regulatory practices in
the United States or foreign countries or to interpretation of
existing laws and regulations to apply to such services. These new
laws and interpretations may relate to issues such as the
requirement that online education institutions be licensed as a
school in one or more jurisdictions even where they have no
physical location. New laws, regulations, or interpretations
related to doing business over the Internet could increase Strayer
University&#8217;s cost of doing business, affect its ability to
increase enrollments and revenues, or otherwise have a material
adverse effect on our business.</P>
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<FONT STYLE="letter-spacing: -.15pt;">On October 29, 2010, the
Department of Education adopted new regulations, which were to be
effective July 1, 2011, regarding state authorization of online
programs. The revised rules specified that that if an institution
offers post-secondary education through distance or correspondence
education to students in a state in which it is not physically
located or in which it is otherwise subject to state jurisdiction
as determined by the state, the institution must meet any state
requirements for it to be legally offering post-secondary distance
or correspondence education in that state. On May 6, 2011, the
Department of Education issued a Dear Colleague Letter interpreting
this new regulation, stating that</FONT></P>
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12</P>
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<FONT STYLE="letter-spacing: -.15pt;">it &#8220;will not initiate
any action to establish repayment liabilities or limit student
eligibility for distance education activities undertaken by an
institution before July 1, 2014, so long as the institution is
making good faith efforts to identify and obtain necessary State
authorizations before that date.&#8221; On July 12, 2011, the U.S.
District Court for the District of Columbia vacated the regulation
relating to state authorization for distance education, which
decision was upheld by the U.S. Court of Appeals for the District
of Columbia Circuit on June 5, 2012. In April 2013, the Department
of Education announced that it would add state authorization of
distance education to a negotiated rulemaking previously initiated
in May 2012. While four negotiated rulemaking sessions were
conducted from February through May 2014, no consensus was reached.
To date the Department of Education has not issued a proposed
rulemaking on this issue.</FONT></P>
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<FONT CLASS="BoldItalic" STYLE=
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Department of Education</FONT></P>
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To be eligible to participate in Title IV programs, Strayer
University must comply with specific standards and procedures set
forth in the Higher Education Act and the regulations issued
thereunder by the Department of Education. An institution must,
among other things, be authorized to offer its educational programs
by each state in which it is physically located and maintain
institutional accreditation by a recognized accrediting agency as
discussed above. The institution also must be certified by the
Department of Education to participate in Title IV programs and
follow Department of Education rules regarding the awarding and
processing of funds issued under the Title IV programs. For
purposes of the Title IV programs, Strayer University and all of
its campuses are considered to be a single institution of higher
education, such that Department of Education requirements
applicable to an institution of higher education are generally
applied to all of Strayer University&#8217;s campuses in the
aggregate rather than on an individual basis. On October 1, 2014,
Strayer University received an executed provisional Program
Participation Agreement with the Department of Education allowing
it to participate in Title IV programs until June 30, 2017. The
Program Participation Agreement is provisional because of the
program reviews that were open at the time the agreement was issued
(described below).</P>
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<FONT CLASS="BoldItalic" STYLE=
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Other Approvals</FONT></P>
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Strayer University is approved by appropriate authorities for the
education of veterans and members of the selective reserve and
their dependents, as well as for the rehabilitation of veterans. In
addition, Strayer University is authorized by the U.S. Department
of Homeland Security to admit foreign students for study in the
United States subject to applicable requirements. The U.S.
Department of Homeland Security, working with the U.S. Department
of State, has implemented a mandatory electronic reporting system
for schools that enroll foreign students and exchange visitors. The
University is also authorized to participate in state financial aid
programs in Pennsylvania, Florida and Vermont.</P>
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<FONT CLASS="BoldItalic" STYLE=
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Financing Student Education</FONT></P>
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Students finance their Strayer University education in a variety of
ways, and historically about three quarters of our students
participated in one or more Title IV programs. Many financial aid
programs are designed to assist eligible students whose financial
resources are inadequate to meet the cost of education. With these
programs, financial aid is awarded on the basis of financial need,
generally defined under the Higher Education Act as the difference
between the cost of attending a program of study and the amount a
student reasonably can be expected to contribute to those expenses.
All recipients of federal student financial aid must maintain a
satisfactory grade point average (&#8220;GPA&#8221;) and progress
in a timely manner toward completion of a program of study.
Undergraduate students must have a 2.0 cumulative GPA to graduate;
graduate students other than JWMI students must have a 3.0
cumulative GPA to graduate; and JWMI students must have a 2.5
cumulative GPA to graduate.</P>
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In addition, many of our working adult students finance their own
education or receive full or partial tuition reimbursement from
their employers. Congress has enacted several tax credits for
students pursuing higher education and has provided for a tax
deduction for interest on student loans and exclusions from income
of certain tuition reimbursement amounts. Eligible students at
Strayer University may also participate in educational assistance
programs administered by the Commonwealth of Pennsylvania, the
State of Florida, the State of Vermont, private organizations, the
U.S. Department of Veterans Affairs (and related state agencies),
and the U.S. Department of Defense (&#8220;DOD&#8221;).</P>
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Congress recently expanded education benefits available to veterans
who have served on active duty since September 11, 2001. Under the
relevant law, known as the Post-9/11 Veterans Educational
Assistance Act of 2009 (as amended August 1, 2011), sometimes
referred to as the &#8220;New GI Bill,&#8221; eligible veterans may
receive, among other</P>
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13</P>
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benefits, tuition benefits up to the net cost to the student (after
accounting for state and federal aid, scholarships, institutional
aid, fee waivers, and similar assistance), subject to a cap of
$21,085 for non-public domestic institutions for 2015-2016. In
addition, eligible students pursuing an educational program solely
through distance learning are eligible to receive a housing
stipend, equal to half the amount available to students attending
certain classroom-based programs or programs that combine classroom
learning and distance learning.</P>
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DOD promulgated regulations, published December 7, 2012 and
effective January 7, 2013, requiring all institutions participating
in DOD military tuition assistance programs to sign a Memorandum of
Understanding (&#8220;MOU&#8221;) by March 1, 2013. At that time,
Strayer University executed such an MOU with DOD. In 2014, the DOD
revised the MOU and required participating institutions to execute
a new MOU. Strayer University participates in DOD military tuition
assistance programs under a revised Memorandum of Understanding
with the DOD, executed on September 5, 2014, and various branches
of the armed services. Thereunder, the University agrees to comply
with DOD rules and procedures regarding the receipt of tuition
assistance on behalf of active duty military personnel (and
qualifying family members) in attendance at the University.</P>
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<FONT CLASS="BoldItalic" STYLE=
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Title IV Programs</FONT></P>
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Strayer University maintains eligibility for its students to
participate in the following Title IV programs:</P>
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<FONT CLASS="bullet" STYLE=
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&#8226;</FONT></I></FONT><FONT CLASS="bullet" STYLE=
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<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Federal
Grants.</FONT> Grants under the Federal Pell Grant program are
available to eligible students based on financial need and other
factors. In April 2011, year-round Pell Grant awards beginning with
the 2011-2012 award year were permanently eliminated. In addition,
effective July 1, 2012, eligibility for Pell Grants was reduced
from 18 semesters to 12 semesters.</P>
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<FONT CLASS="bullet" STYLE=
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&#8226;</FONT></I></FONT><FONT CLASS="bullet" STYLE=
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<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Campus-Based
Programs.</FONT> The campus-based Title IV programs include the
Federal Supplemental Educational Opportunity Grant program, the
Federal Perkins Loan, and the Federal Work-Study Program. Strayer
University does not actively participate in the Perkins Loan or the
Federal Work-Study Program.</P>
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<FONT CLASS="bullet" STYLE=
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&#8226;</FONT></I></FONT><FONT CLASS="bullet" STYLE=
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<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Federal Direct
Student Loans.</FONT> Under the William D. Ford Federal Direct Loan
Program, the Department of Education makes loans directly to
students and their parents. Students who demonstrate financial need
may qualify for a subsidized loan. With a subsidized loan, the
federal government will pay the interest on the loan while the
student is in school and during any approved periods of deferment,
until the student&#8217;s obligation to repay the loan begins.
Unsubsidized loans are available to students who do not qualify for
a subsidized loan or, in some cases, in addition to a subsidized
loan. PLUS loans, including Graduate PLUS loans, are unsubsidized.
The Budget Control Act of 2011, signed into law on August 2, 2011,
eliminated federal direct subsidized loans for graduate and
professional students as of July 1, 2012. The terms and conditions
of subsidized loans originated prior to July 1, 2012 are not
affected by the change.</P>
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<FONT CLASS="BoldItalic" STYLE=
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Federal Financial Aid Regulation</FONT></P>
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To be eligible to participate in Title IV programs, Strayer
University must comply with specific standards and procedures set
forth in the Higher Education Act and the regulations issued
thereunder by the Department of Education. As part of those
participation standards, the Department of Education determines
whether, among other things, the institution meets certain
standards of administrative capability and financial
responsibility. The institution must also follow extensive
Department of Education rules regarding the awarding and processing
of funds issued under the Title IV programs. Some of the key
provisions regarding institutional eligibility and processing
federal financial aid are described below.</P>
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<FONT CLASS="BoldItalic" STYLE=
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Program Participation Agreement</FONT></P>
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Each institution participating in Title IV programs must enter into
a Program Participation Agreement with the Department of Education.
Under the agreement, the institution agrees to follow the
Department of Education&#8217;s rules and regulations governing
Title IV programs. Strayer University&#8217;s provisional Program
Participation Agreement with the Department of Education allows it
to participate in Title IV programs until June 30, 2017.</P>
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<FONT CLASS="BoldItalic" STYLE=
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Provisional Certification</FONT></P>
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In certain circumstances, the Department of Education may certify
an institution&#8217;s continuing eligibility to participate in
Title IV programs on a provisional basis for up to three complete
award years (July 1 &#8211; June 30) from the date of provisional
certification. During the period of provisional certification, the
institution must</P>
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14</P>
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comply with any additional conditions included in its program
participation agreement. If the Department of Education determines
that a provisionally certified institution is unable to meet its
responsibilities under its program participation agreement, it may
seek to revoke or further condition the institution&#8217;s
certification to participate in Title IV programs with fewer due
process protections for the institution than if it were fully
certified. Should the Department of Education seek to revoke
eligibility during the provisional period, the institution will
have an opportunity to show cause why such revocation is not
warranted and the Department of Education&#8217;s decision to
accept or reject such cause will constitute final agency action.
Strayer University is operating under a provisional Program
Participation Agreement through June 30, 2017, and the only
material additional condition with which the University must comply
as a result of this provisional certification is obtaining the
Department of Education&#8217;s approval for substantial changes,
including the addition of any new location, level of academic
offering, or non-degree and degree programs.</P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Administrative Capability</FONT></P>
<P CLASS="Textind" STYLE=
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Department of Education regulations specify extensive criteria by
which an institution must establish that it has the requisite
administrative capability to participate in Title IV programs. To
meet the administrative capability standards, an institution, among
other things, must comply with all applicable Title IV program
regulations, must not have cohort default rates above specified
levels, must have various procedures in place for safeguarding
federal funds, must not be, and not have any principal or affiliate
who is, debarred or suspended from federal contracting or engaging
in activity that is cause for debarment or suspension, must submit
in a timely manner all reports and financial statements required by
the regulations and must not otherwise appear to lack
administrative capability.</P>
<P CLASS="H3ind" STYLE=
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<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Financial Responsibility</FONT></P>
<P CLASS="Textind" STYLE=
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The Higher Education Act and Department of Education regulations
establish extensive standards of financial responsibility that
institutions such as Strayer University must satisfy in order to
participate in Title IV programs. These standards generally require
that an institution provide the services described in its official
publications and statements, properly administer the Title IV
programs in which it participates and meet all of its financial
obligations, including required refunds and any repayments to the
Department of Education for debts and liabilities incurred in
programs administered by the Department of Education.</P>
<P CLASS="Textind" STYLE=
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Department of Education standards utilize a complex formula to
assess financial responsibility. The standards focus on three
financial ratios: (1) equity ratio (which measures the
institution&#8217;s capital resources and ability to borrow); (2)
primary reserve ratio (which measures the institution&#8217;s
financial viability and liquidity) and (3) net income ratio (which
measures the institution&#8217;s ability to operate at a profit or
within its means). An institution&#8217;s financial ratios must
yield a composite score of at least 1.5 for the institution to be
deemed financially responsible without alternative measures and
further federal oversight. Strayer University has applied the
financial responsibility standards to its financial statements as
of and for the year ended December 31, 2015, and based on its
composite score and other relevant factors, we believe that Strayer
University meets the Department of Education&#8217;s financial
responsibility standards.</P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Student Loan Defaults</FONT></P>
<P CLASS="Textind" STYLE=
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Under the Higher Education Act, an educational institution may lose
its eligibility to participate in some or all of the Title IV
programs if defaults on the repayment of Direct Loan or Federal
Family Education Loan (&#8220;FFEL&#8221;) Program loans by its
students exceed certain levels. The Department of Education uses a
specific methodology to determine default rates and imposes varying
sanctions based upon the results of that calculation. As discussed
below, the cohort default rate calculation and threshold for
regulatory sanctions changed effective 2014 as a result of the
reauthorization of the Higher Education Act through the Higher
Education Opportunity Act (&#8220;HEOA&#8221;), which was effective
August 18, 2008.</P>
<P CLASS="Textind" STYLE=
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The Department of Education calculates a rate of student defaults
(known as a cohort default rate) for each institution with 30 or
more borrowers entering repayment in a given federal fiscal year.
The Department of Education includes in the cohort all student
borrowers at the institution who entered repayment on any Direct or
FFEL Program loan during that year. The cohort default rate is the
percentage of those borrowers who become subject to their repayment
obligation in the relevant federal fiscal year and default by the
end of the second federal fiscal year following that fiscal year,
resulting in a three-year cohort default rate. Because of the need
to collect data on defaults, the Department of Education publishes
cohort default rates three years in arrears; for example, in the
fall of 2015, the Department of Education issued cohort default
rates for federal fiscal year 2012.</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
15</P>
<P CLASS="Textind" STYLE=
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The Department of Education may take adverse action against an
institution if it has excessive cohort default rates, including the
following:</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 13.0pt;">
&#8226;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
If an institution&#8217;s cohort default rate is 30% or more in a
given fiscal year, the institution will be required to assemble a
&#8220;default prevention task force&#8221; and submit to the
Department of Education a default improvement plan.</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
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&#8226;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
If an institution&#8217;s cohort default rate exceeds 30% for two
consecutive years, the institution will be required to review,
revise and resubmit its default improvement plan. The Department of
Education may direct that the plan be amended to include actions,
with measurable objectives, that it determines will promote loan
repayment.</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
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&#8226;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
If an institution&#8217;s cohort default rate exceeds 30% for two
out of three consecutive years, the Department of Education may
subject the institution to provisional certification. The
institution may file a timely appeal on specified grounds according
to specified procedures, and if the Secretary of Education
determines that the institution demonstrated a basis for relief,
the Secretary may not subject the institution to provisional
certification based solely on the institution&#8217;s cohort
default rate.</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
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&#8226;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
If an institution&#8217;s cohort default rate is equal to or
greater than 30% for each of the three most recent federal fiscal
years for which data are available, the institution will be
ineligible to participate in the Direct Loan Program and Federal
Pell Grant Program.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
An institution generally loses eligibility to participate in Title
IV programs if its most recent cohort default rate is greater than
40%, and institutions with a cohort default rate equal to or
greater than 15% for any of the three most recent fiscal years for
which data are available are subject to a 30-day delayed
disbursement period for first-year, first-time undergraduate
borrowers. Because its cohort default rate for 2010 was 15.1%,
Strayer disburses Direct Loans in this manner.</P>
<P CLASS="Textind" STYLE=
"margin-bottom: 10.0pt; mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Strayer&#8217;s official three-year cohort default rates for 2010,
2011, and 2012, as well as the average official three-year cohort
default rates for proprietary institutions nationally, were as
follows:</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" WIDTH="639" STYLE=
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<TR>
<TD WIDTH="346" VALIGN="bottom" STYLE=
"width: 259.6pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="96" VALIGN="bottom" STYLE=
"width: 1.0in; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Strayer University</P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="123" VALIGN="bottom" STYLE=
"width: 92.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT LANG="EN-GB">National Average Proprietary
Institutions</FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="346" VALIGN="bottom" STYLE=
"width: 259.6pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2012</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
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<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="96" VALIGN="bottom" STYLE=
"width: 1.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
"margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
11.6%</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="123" VALIGN="bottom" STYLE=
"width: 92.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
"margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
15.8%</P>
</TD>
</TR>
<TR>
<TD WIDTH="346" VALIGN="bottom" STYLE=
"width: 259.6pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2011</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="96" VALIGN="bottom" STYLE=
"width: 1.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
"margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
14.9%</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="123" VALIGN="bottom" STYLE=
"width: 92.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
"margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
19.1%</P>
</TD>
</TR>
<TR>
<TD WIDTH="346" VALIGN="bottom" STYLE=
"width: 259.6pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2010</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="96" VALIGN="bottom" STYLE=
"width: 1.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
"margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
15.1%</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="123" VALIGN="bottom" STYLE=
"width: 92.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
"margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
21.8%</P>
</TD>
</TR>
</TABLE>
<P CLASS="Textind" STYLE=
"margin-top: 10.0pt; mso-style-name: Text_ind; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
As part of its compliance program related to the cohort default
rate, Strayer University provides entrance and exit counseling to
its students and engages the services of a third party to counsel
students once they are in repayment status regarding their
repayment obligations.</P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
The 90/10 Rule</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
A requirement of the Higher Education Act, commonly referred to as
the 90/10 Rule, applies only to proprietary institutions of higher
education, which includes Strayer University. Under this rule, a
proprietary institution is prohibited from deriving more than 90%
of its revenues (as revenues are computed under the Department of
Education&#8217;s methodology) from Title IV funds on a cash
accounting basis (except for certain institutional loans) for any
fiscal year.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT STYLE="letter-spacing: -.05pt;">The 90/10 Rule is a
compliance obligation that is part of an institution&#8217;s
program participation agreement with the Department of Education. A
proprietary institution of higher education that violates the 90/10
Rule for any fiscal year will be placed on provisional status for
up to two fiscal years. Proprietary institutions of higher
education that violate the 90/10 Rule for two consecutive fiscal
years will become ineligible to participate in Title IV programs
for at least two fiscal years and will be required to demonstrate
compliance with Title IV eligibility and certification requirements
for at least two fiscal years prior to resuming Title IV program
participation. In addition, the Department of Education discloses
on its website any proprietary institution of higher education that
fails to meet the 90/10 requirement, and reports annually to
Congress the relevant ratios for each proprietary institution of
higher education.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
HEOA changes in 2008 generally codified the regulatory formula for
90/10 rule calculations, but also expanded on the Department of
Education&#8217;s formula in certain respects, including by
broadening the categories of funds that may be counted as non-Title
IV revenue for 90/10 Rule purposes. The HEOA provisions were
effective on August 14, 2008, and the Department of Education
issued final regulations implementing the 90/10 Rule and
certain</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
16</P>
<P CLASS="Textind" STYLE=
"text-indent: 0in; mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
other HEOA provisions that were effective July 1, 2010, but
institutions could have, at their discretion, implemented the 90/10
Rule regulations on or after November 1, 2009. These regulations
clarify the treatment of certain types of revenue, and require
institutions to report in their annual financial statement audits
not only the percentage of revenues derived from Title IV funds
during the fiscal year, but also the dollar amounts of the
numerator and denominator of the 90/10 calculation and specified
categories of revenue. The regulations also shorten from 90 to 45
days the time period within which institutions must notify the
Secretary after the end of a fiscal year in which the institution
failed to meet the 90/10 Rule requirement.</P>
<P CLASS="Textind" STYLE=
"margin-top: 5.5pt; mso-style-name: Text_ind; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Using the HEOA formula, Strayer University derived approximately
73% of its cash-basis revenues from Title IV program funds in 2014.
Our computation for 2015 has not yet been finalized and audited;
however, we believe we will remain in compliance with the 90/10
Rule requirement.</P>
<P CLASS="Textind" STYLE=
"margin-top: 5.5pt; mso-style-name: Text_ind; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The key components of non-Title IV revenue for Strayer University
are individual student payments, employer tuition reimbursement
payments, veterans&#8217; benefits, vocational rehabilitation
funds, private loans, state grants, and scholarships. Certain
members of Congress have proposed to revise the 90/10 Rule to count
DOD tuition assistance and veterans&#8217; education benefits along
with Title IV revenue toward the 90% limit and to reduce the limit
to 85% of total revenue.</P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Incentive Compensation</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
As a part of an institution&#8217;s program participation agreement
with the Department of Education and in accordance with the Higher
Education Act, the institution may not provide any commission,
bonus or other incentive payment based directly or indirectly on
success in securing enrollments or financial aid to any person or
entity engaged in any student recruitment, admissions or financial
aid awarding activity. Failure to comply with the incentive payment
rule could result in loss of certification to participate in
federal student financial aid programs, limitations on
participation in the federal student financial aid programs, or
financial penalties.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT STYLE="letter-spacing: -.1pt;">Effective July 1, 2011, the
Department of Education eliminated 12 &#8220;safe harbors&#8221;
that had been established in 2002 to define circumstances under
which an institution would not run afoul of the incentive payment
prohibition. The final rules prohibit payments made &#8220;in any
part,&#8221; directly or indirectly, upon the success of securing
enrollments or financial aid, apply to all employees at an
institution who are engaged in or responsible for any student
recruitment or admission activity, limit &#8220;profit-sharing
payments,&#8221; and set rules for third-party contracts. The
Department of Education published Dear Colleague Letter GEN-11-05
interpreting this regulation. We believe we are in compliance with
the regulation.</FONT></P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Gainful Employment</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Under the Higher Education Act, a proprietary institution offering
programs of study other than a baccalaureate degree in liberal arts
(for which there is a limited statutory exception) must prepare
students for gainful employment in a recognized occupation. The
Department of Education previously attempted to define &#8220;an
eligible program of training to prepare students for gainful
employment in a recognized occupation.&#8221; After a federal court
invalidated the Department of Education&#8217;s regulation (except
for disclosure requirements), the Department of Education
established a negotiated rulemaking committee to again consider the
issue of gainful employment, and appointed Strayer
University&#8217;s then-General Counsel to serve on the committee.
The Committee did not achieve the required consensus, allowing the
Department of Education to put forth its own proposed rules. On
March 25, 2014, the Department of Education issued a Notice of
Proposed Rulemaking for public comment, and on October 31, 2014,
the Department of Education published the final regulation which
became effective on July 1, 2015.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The new requirements include two debt-to-earnings measures,
consisting of an annual income rate and a discretionary income
rate. The annual income rate measures student debt in relation to
earnings, and the discretionary income rate measures student debt
in relation to discretionary income. Under the new gainful
employment regulation, a program would pass if the program&#8217;s
graduates:</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 13.0pt;">
&#8226;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
have an annual income rate ratio that does not exceed 8%;
<B><U><FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold;">or</FONT></U></B></P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 13.0pt;">
&#8226;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
have a discretionary income rate that does not exceed 20%.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT STYLE="letter-spacing: -.05pt;">In addition, a program that
does not pass either of the debt-to-earnings metrics, and that has
an annual income rate between 8% and 12%, or a discretionary income
rate between 20% and 30%, would be considered to be in a warning
zone. A program would fail if the program&#8217;s graduates have an
annual income rate of 12% or greater and a discretionary income
rate of 30% or greater. A program would become Title IV-ineligible
for three years if it fails both metrics for two out of three
consecutive years, or fails to pass at least one metric for four
consecutive award years.</FONT></P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
17</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
If an institution is notified by the Secretary that a program could
become ineligible, based on its final rates, for the next award
year:</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 13.0pt;">
&#8226;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
the institution must provide a warning with respect to the program
to students and prospective students indicating, among other
things, that students may not be able to use Title IV funds to
attend or continue in the program; and</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 13.0pt;">
&#8226;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
the institution must not enroll, register or enter into a financial
commitment with a prospective student until a specified time after
providing the warning to the prospective student.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT STYLE="letter-spacing: -.1pt;">The new regulation also
requires institutions to report student and program level data to
the Department of Education, and comply with additional disclosure
requirements beginning in January 2017. The University timely
submitted the required reporting in July and September 2015. On
October 9, 2015, the Department of Education notified the
University that it was not in full compliance with reporting
requirements for gainful employment programs and thus no decisions
on new programs or locations will be issued. Although the
University had timely reported all information for gainful
employment programs, the Department did not recognize the
submissions as complete due to erroneous academic program codes in
the Common Origination and Disbursement system. The University has
remediated the errors, and the Department of Education has
acknowledged the University&#8217;s submissions as
complete.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
In addition, the gainful employment regulation requires
institutions to certify by December 31, 2015, among other things,
that each eligible gainful employment program is programmatically
accredited if required by a federal governmental entity or a state
governmental entity of a state in which it is located or is
otherwise required to obtain state approval, and that each eligible
program satisfies the applicable educational prerequisites for
professional licensure or certification requirements in each state
in which it is located or is otherwise required to obtain state
approval, so that a student who completes the program and seeks
employment in that state qualifies to take any licensure or
certification exam that is needed for the student to practice or
find employment in an occupation that the program prepares students
to enter. The University timely made the required
certification.</P>
<P CLASS="Textind" STYLE=
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The requirements associated with the gainful employment regulations
may substantially increase our administrative burdens and could
affect our student enrollment, persistence and retention. Further,
although the regulations provide opportunities for an institution
to correct any potential deficiencies in a program prior to the
loss of Title IV eligibility, the continuing eligibility of our
academic programs may be affected by factors beyond
management&#8217;s control, such as changes in our graduates&#8217;
employment and income levels, changes in student borrowing levels,
increases in interest rates, and various other factors. Even if we
were able to correct any deficiency in the gainful employment
metrics in a timely manner, the disclosure requirements associated
with a program&#8217;s failure to meet at least one metric may
adversely affect student enrollments in that program and may
adversely affect the reputation of our institution.</P>
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<FONT CLASS="BoldItalic" STYLE=
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Return of Federal Funds</FONT></P>
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Under the Higher Education Act&#8217;s return-of-funds provision,
an institution must return Title IV funds to a Title IV program in
a timely manner if a student received funds from that program but
did not earn them due to the student&#8217;s withdrawal from the
institution. In order to determine if funds should be returned, the
institution must first determine the amount of Title IV program
funds that the student earned. If the student attends the
institution, but withdraws during the first 60% of any period of
enrollment or payment period, the amount of Title IV program funds
that the student earned is equal to a pro rata portion of the funds
for which the student would otherwise be eligible. Strayer
University uses the student&#8217;s last day of attendance as the
withdrawal date for purposes of return to Title IV. Effective July
1, 2011, institutions that use the last day of attendance are
required to measure the last day of attendance based on official
attendance records, and &#8220;attendance&#8221; for online classes
must include participation in an academically related activity.
Strayer University&#8217;s systems allow for measurement on this
basis. If the student withdraws after the 60% point, then the
student has earned 100% of the Title IV program funds. The
institution must return to the appropriate Title IV programs, in a
specified order, the lesser of the unearned Title IV program funds
or the institutional charges incurred by the student for the period
multiplied by the percentage of unearned Title IV program funds. An
institution must return the funds no later than 45 days after the
date that the institution determines that a student withdrew.</P>
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If the funds are not returned in a timely manner, an institution
may be subject to adverse action, including being required to
submit a letter of credit equal to 25% of the refunds the
institution should have made in its most recently completed fiscal
year. Under Department of Education regulations, if late returns of
Title IV program funds</P>
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18</P>
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constitute 5% or more of students sampled in the
institution&#8217;s annual compliance audit for either of its two
most recently completed fiscal years, an institution generally must
submit an irrevocable letter of credit payable to the Secretary of
Education.</P>
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<FONT CLASS="BoldItalic" STYLE=
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Third-Party Servicers</FONT></P>
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Department of Education regulations permit an institution to enter
into a written contract with a third-party servicer for the
administration of any aspect of the institution&#8217;s
participation in Title IV programs. The third-party servicer must,
among other obligations, comply with Title IV requirements and be
jointly and severally liable with the institution to the Secretary
of Education for any violation by the servicer of any Title IV
provision. An institution must report to the Department of
Education new contracts or any significant modifications to
contracts with third-party servicers as well as other matters
related to third-party servicers. Strayer University has written
contracts with third-party servicers to perform activities related
to Strayer University&#8217;s participation in Title IV programs.
Strayer University also has a contract with Heartland Payment
Systems, Inc. for processing stipends due to students. For loan
default prevention, Strayer University had contracted with General
Revenue Corporation through February 2015, and with i3 Group, LLC
for&nbsp; the remainder of 2015. Prior to September 30, 2011,
Strayer University utilized Global Financial Aid Services, Inc.,
for services including certifying Title IV loan applications,
preparing reports from Strayer University to the Department of
Education, and issuing federal grant program payments. The
University&#8217;s agreement with Global Financial Aid Services
expired on September 30, 2011, at which point Strayer University
in-sourced its financial aid processing.</P>
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<FONT CLASS="BoldItalic" STYLE=
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Lender Relationships</FONT></P>
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As part of an institution&#8217;s program participation agreement
with the Department of Education, the institution must adopt a code
of conduct pertaining to student loans. Strayer University has a
code of conduct that it believes complies with the provisions of
HEOA in all material respects. In addition to the code of conduct
requirements that apply to institutions, HEOA contains provisions
that apply to lenders, prohibiting lenders from engaging in certain
activities as they interact with institutions.</P>
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Prior to the termination of the FFEL Program on June 30, 2010,
Strayer University was subject to rules applicable to institutions
that make available a list of recommended or suggested federal loan
lenders for use by potential borrowers. Strayer University remains
subject to those rules with respect to private education loans.</P>
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<FONT CLASS="BoldItalic" STYLE=
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Restrictions on Adding Locations and Educational
Programs</FONT></P>
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State requirements and accrediting agency standards limit the
ability of Strayer University to establish additional locations and
programs. Most states require approval before institutions can add
new programs, campuses or teaching locations. Middle States
requires institutions that it accredits to notify it in advance of
implementing new programs or locations, which may require
additional approval. At its discretion, Middle States may also
conduct site visits to additional locations to ensure that
accredited institutions that experience rapid growth in the number
of additional locations, among other reasons, maintain educational
quality. All new Strayer University campus locations require Middle
States approval before students are enrolled, and the Higher
Education Act requires Middle States to monitor institutions with
significant enrollment growth. In addition, under Strayer
University&#8217;s provisional certification, the Department of
Education must approve any new campus location, level of academic
offering and non-degree and degree programs.</P>
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The Higher Education Act requires proprietary institutions of
higher education to be in full operation for two years before
qualifying to participate in Title IV programs. However, the
applicable regulations in many circumstances permit an institution
that is already qualified to participate in Title IV programs to
establish additional locations that are exempt from the two-year
rule. These additional locations generally may qualify immediately
for participation in the Title IV programs, unless the location was
acquired from another institution that has ceased offering
educational programs at that location and has Title IV liabilities
that it is not repaying in accordance with an agreement to do so,
and the acquiring institution does not agree, among other matters,
to be responsible for certain liabilities of the acquired
institution. The new location must satisfy all other applicable
requirements for institutional eligibility, including approval of
the additional location by the relevant state authorizing agency
and the institution&#8217;s accrediting agency. Strayer
University&#8217;s expansion plans assume its continued ability to
establish new campuses as additional locations of Strayer
University under such applicable regulations and thereby to avoid
incurring the two-year delay in participation in Title IV programs.
The loss of state authorization or accreditation of Strayer
University or an existing campus, or the failure of Strayer
University or a new campus to obtain state authorization</P>
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19</P>
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or accreditation, would render Strayer University ineligible to
participate in Title IV programs at least in that state or at that
location. Department of Education regulations require institutions
to report to the Department of Education a new additional location
at which at least 50% of an eligible program will be offered, if
the institution wants to disburse Title IV program funds to
students enrolled at that location. Under its provisional Program
Participation Agreement with the Department of Education, Strayer
University must obtain Department of Education approval for the
addition of any new location. Institutions are responsible for
knowing whether they need approval, and institutions that add
locations and disburse Title IV program funds without having
obtained any necessary approval may be subject to administrative
repayments and other sanctions.</P>
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The gainful employment regulation that became effective July 1,
2015 provides that an institution may establish a new
program&#8217;s Title IV eligibility by updating the list of the
institution&#8217;s programs maintained by the Department of
Education, and thereby making the certification required by the
regulation. However, an institution may not update its list of
eligible programs to include a gainful employment program, or a
gainful employment program that is substantially similar to a
failing or zone program that the institution voluntarily
discontinued or became ineligible, that was subject to the
three-year loss of eligibility until that three-year period
expires.</P>
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<FONT CLASS="BoldItalic" STYLE=
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Other Regulations Governing Title IV Programs</FONT></P>
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The Department of Education has enacted a comprehensive set of
regulations governing an institution&#8217;s participation in the
Title IV programs. If Strayer University were not to continue to
comply with these regulations, such non-compliance might affect the
operations of the University and its ability to participate in
Title IV programs.</P>
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<FONT CLASS="BoldItalic" STYLE=
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Compliance Reviews</FONT></P>
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Strayer University is subject to announced and unannounced
compliance reviews and audits by various external agencies,
including the Department of Education, its Office of Inspector
General, state licensing agencies, guaranty agencies, and
accrediting agencies. The Higher Education Act and Department of
Education regulations also require an institution to submit
annually to the Secretary of Education a compliance audit of its
administration of the Title IV programs conducted by an independent
certified public accountant in accordance with Government Auditing
Standards and applicable audit guides of the Department of
Education&#8217;s Office of Inspector General. In addition, to
enable the Secretary of Education to make a determination of
financial responsibility, an institution must submit annually to
the Secretary of Education audited financial statements prepared in
accordance with Department of Education regulations.</P>
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In an August 2010 letter to members of the Senate Health,
Education, Labor and Pensions (HELP) Committee, the Secretary of
Education announced plans to increase the number of program reviews
by 50%, from 200 conducted in 2010 to 300 in 2011. The Department
of Education conducted four campus-based program reviews of Strayer
University locations in three states and the District of Columbia,
with one on-site review conducted August 18-20, 2014; one on-site
review conducted September 8-11, 2014; and two on-site reviews
conducted September 22-26, 2014. The reviews covered federal
financial aid years 2012-2013 and 2013-2014, and two of the reviews
also covered compliance with the Jeanne Clery Disclosure of Campus
Security Policy and Campus Crime Statistics Act, the Drug-Free
Schools and Communities Act, and regulations related thereto. On
October 21, 2014, the Department issued an Expedited Final Program
Review Determination Letter for one of the program reviews
conducted the week of September 22, 2014, closing the program
review with no further action required by us. On November 17, 2014,
we received a Program Review Report for the program review
conducted in August 2014, and provided a response to the Department
of Education on December 15, 2014. On January 7, 2015, we received
a Final Program Review Determination letter from that August 2014
review, closing the review with no further action required by us.
On March 24, 2015, the Company received a Program Review Report for
another program review, and provided a response to the Department
on April 21, 2015. On April 29, 2015, the Company received a Final
Program Review Determination Letter closing the review and
identifying a payment of less than $500 due to the Department of
Education based on an underpayment on a return to Title IV
calculation. The Company remitted payment, and received a letter
from the Department on May 26, 2015, indicating that no further
action was required and that the matter was closed. On September
15, 2015, the Company received a Program Review report for the
final program review, and provided a response to the Department on
October 5, 2015. On January 5, 2016 the Company received a Final
Program Review Determination letter for the final program review,
indicating that the program review was closed and no further action
was required.</P>
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20</P>
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<FONT CLASS="BoldItalic" STYLE=
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Potential Effect of Regulatory Violations</FONT></P>
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If Strayer University fails to comply with the regulatory standards
governing Title IV programs, the Department of Education could
impose one or more sanctions, including transferring Strayer
University from the advance payment method to the reimbursement or
cash monitoring system of payment, seeking to require repayment of
certain Title IV funds, requiring the University to post a letter
of credit in favor of the Department of Education as a condition
for continued Title IV certification, taking emergency action
against the University, referring the matter for criminal
prosecution or initiating proceedings to impose a fine or to limit,
condition, suspend or terminate Strayer University&#8217;s
participation in Title IV programs. Although there are no such
sanctions currently in force, if such sanctions or proceedings were
imposed against Strayer University and resulted in a substantial
curtailment, or termination, of the University&#8217;s
participation in Title IV programs or resulted in substantial fines
or monetary liabilities, Strayer University would be materially and
adversely affected.</P>
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If Strayer University lost its eligibility to participate in Title
IV programs, or if Congress reduced the amount of available federal
student financial aid, the University would seek to arrange or
provide alternative sources of revenue or financial aid for
students. Although the University believes that one or more private
organizations would be willing to provide financial assistance to
students attending Strayer University, there is no assurance that
this would be the case, and the interest rate and other terms of
such student financial aid are unlikely to be as favorable as those
for Title IV program funds. Strayer University might be required to
guarantee all or part of such alternative assistance in a manner
that complies with rules governing schools&#8217; relationships
with lenders or might incur other additional costs in connection
with securing alternative sources of financial aid. Accordingly,
the loss of eligibility of Strayer University to participate in
Title IV programs, or a reduction in the amount of available
federal student financial aid, would be expected to have a material
adverse effect on Strayer University, even if it could arrange or
provide alternative sources of revenue or student financial
aid.</P>
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In addition to the actions that may be brought against us as a
result of our participation in Title IV programs, we also may be
subject, from time to time, to complaints and lawsuits relating to
regulatory compliance brought not only by our regulatory agencies,
but also by other government agencies and third parties.</P>
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<FONT CLASS="BoldItalic" STYLE=
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Change in Ownership Resulting in a Change of Control</FONT></P>
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Many states and accrediting agencies require institutions of higher
education to report or obtain approval of certain changes in
ownership or other aspects of institutional status, but the types
of and triggers for such reporting or approval vary among states
and accrediting agencies. In addition, Strayer University&#8217;s
accrediting agency, Middle States, requires institutions that it
accredits to inform it in advance of any substantive change,
including a change that significantly alters the ownership or
control of the institution. Examples of substantive changes
requiring advance notice to and approval of Middle States include
changes in the legal status, ownership or form of control of the
institution, such as the sale of a proprietary institution. Middle
States must approve a substantive change in advance in order to
include the change in the institution&#8217;s accreditation status.
Middle States will undertake a site visit to an institution that
has undergone a change in ownership or control no later than six
months after the change.</P>
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The Higher Education Act provides that an institution that
undergoes a change in ownership resulting in a change of control
loses its eligibility to participate in the Title IV programs and
must apply to the Department of Education in order to reestablish
such eligibility. An institution is ineligible to receive Title IV
program funds during the period prior to recertification. The
Higher Education Act provides that the Department of Education may
temporarily, provisionally certify an institution seeking approval
of a change of ownership and control based on preliminary review by
the Department of Education of a materially complete application
received by the Department of Education within 10 business days
after the transaction. The Department of Education may continue
such temporary, provisional certification on a month-to-month basis
until it has rendered a final decision on the institution&#8217;s
application. If the Department of Education determines to approve
the application after a change in ownership and control, it issues
a provisional certification, which extends for a period expiring
not later than the end of the third complete award year following
the date of provisional certification. The Higher Education Act
defines one of the events that would trigger a change in ownership
resulting in a change of control as the transfer of the controlling
interest of the stock of the institution or its parent corporation.
For a publicly traded corporation, the securities of which are
required to be registered under the Exchange Act, such as Strayer,
the Department of Education regulations implementing the Higher
Education Act define a change in ownership resulting in a change of
control as occurring when a person acquires ownership and control
of a corporation such that the corporation is required to file a
Form 8-K with the Securities and Exchange Commission (SEC) publicly
disclosing the change of</P>
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21</P>
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control. The regulations also provide that a change in ownership
and control of a publicly traded corporation occurs if a person who
is a controlling stockholder of the corporation ceases to be a
controlling stockholder. A controlling stockholder is a stockholder
who holds or controls through agreement both 25% or more of the
total outstanding voting stock of the corporation and more shares
of voting stock than any other stockholder.</P>
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The U.S. Department of Homeland Security, working with the U.S.
Department of State, has implemented a mandatory electronic
reporting system for schools that enroll foreign students and
exchange visitors. Strayer University currently is authorized by
the U.S. Department of Homeland Security to admit foreign students
for study in the United States subject to applicable requirements.
In certain circumstances, the Department of Homeland Security may
require an institution to obtain approval for a change in ownership
and control.</P>
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Pursuant to federal law providing benefits for veterans and
reservists, some of the programs offered by Strayer University are
approved for the enrollment of persons eligible to receive U.S.
Department of Veterans Affairs educational benefits by the state
approving agencies. In 2015, we had such approval in Alabama,
Arkansas, Delaware, Florida, Georgia, Louisiana, Maryland,
Mississippi, New Jersey, North Carolina, Pennsylvania, South
Carolina, Tennessee, Texas, Virginia, West Virginia, Wisconsin, and
Washington, D.C. In certain circumstances, state approving agencies
may require an institution to obtain approval for a change in
ownership and control.</P>
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If Strayer University underwent a change of control that required
approval by any state authority, Middle States or any federal
agency, and any required regulatory approval were significantly
delayed, limited or denied, there could be a material adverse
effect on Strayer University&#8217;s ability to offer certain
educational programs, award certain degrees, diplomas or
certificates, operate one or more of its locations, admit certain
students or participate in Title IV programs, which in turn would
materially and adversely affect Strayer University&#8217;s
operations. A change that required approval by a state regulatory
authority, Middle States or a federal agency could also delay
Strayer University&#8217;s ability to establish new campuses or
educational programs and may have other adverse regulatory effects.
Furthermore, the suspension from Title IV programs and the
necessity of obtaining regulatory approvals in connection with a
change of control may materially limit Strayer University&#8217;s
flexibility in future financing or acquisition transactions.</P>
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<FONT CLASS="BoldItalic" STYLE=
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Recent or Pending Legislative and Regulatory Activity</FONT></P>
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Congress has been considering legislation that would make further
changes in the Higher Education Act and other education-related
federal laws. Congressional activity may adversely affect
enrollment in for-profit educational institutions. We cannot
predict the impact, if any, of these recent or pending legislative
changes on our long-term business model, or whether future
congresses will consider similar legislation, although uncertainty
associated with Congressional activity has had a negative impact on
the industry as a whole.</P>
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As discussed more fully above, the Department of Education recently
issued a final regulation on gainful employment, which became
effective on July 1, 2015. This regulation establishes
debt-to-earnings metrics that a Title IV eligible program must pass
in order to maintain eligibility. A program failing both
debt-to-earnings metrics in two out of three consecutive years, or
failing or in a warning zone for four consecutive years, would be
deemed ineligible to receive Title IV funds for a period of three
years.</P>
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<FONT CLASS="Italic" STYLE=
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Congress historically has reauthorized the Higher Education Act
(&#8220;HEA&#8221;)<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">,</FONT> which is the
law governing Title IV programs, approximately every five to six
years. On July 31, 2008, Congress reauthorized the HEA through the
end of 2013, by passing the HEOA, which President Bush signed into
law on August 14, 2008. The HEOA provisions became effective upon
enactment, unless otherwise specified in the law. HEOA includes
numerous new and revised requirements for higher education
institutions. In October 2009, the Department of Education
published final regulations to implement HEOA changes to Title IV
of the Higher Education Act. Those regulations were effective July
1, 2010. Congress extended funding for Title IV through September
30, 2016, through the Consolidated and Further Continuing
Appropriations Act, 2015. Both the House and Senate have continued
to hold hearings regarding the reauthorization of the HEA. We
cannot predict what the final reauthorization will, or will not do,
or when or how it will be enacted, or its effects on Strayer
University.</P>
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In addition to HEOA, three other laws to amend and reauthorize
aspects of the Higher Education Act have been enacted over the last
few years. In February 2006, President Bush signed the Deficit
Reduction Act of 2005, which included the Higher Education
Reconciliation Act of 2005, or HERA. Among other measures, HERA</P>
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22</P>
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reauthorized the Higher Education Act with respect to the federal
guaranteed student loan programs. In September 2007, President Bush
signed the College Cost Reduction and Access Act, which increased
benefits to students under the Title IV programs and reduced
payments to and raised costs for lenders that participate in the
federal student loan programs. In May 2008, President Bush signed
the Ensuring Continued Access to Student Loans Act of 2008, or
ECASLA, which was designed to facilitate student loan availability
and to increase student access to federal financial aid in light of
then-current market conditions. Congress extended ECASLA for an
additional year, to June 30, 2010. In March 2010, Congress passed
the Student Aid and Fiscal Responsibility Act of 2009, which
eliminated the FFEL Program and required all institutions
participating in Title IV programs to convert exclusively to the
Direct Loan Program by July 1, 2010.</P>
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The Consumer Financial Protection Bureau (&#8220;CFPB&#8221;)
submitted two reports to Congress in 2012 with specific
recommendations for restructuring the student borrowing experience,
including requiring institutions to certify that a student is not
eligible for any further federal funds before a private loan may be
issued to such student. On October 16, 2014, the CFPB Student Loan
Ombudsman released its third annual report analyzing more than
5,300 complaints the CFPB received from private student loan
borrowers between October 1, 2013 and September 30, 2014. The
report stated that, as Congress considers HEA reauthorization, it
may be useful to assess whether certain reforms related to the
servicing of credit cards and mortgages might also strengthen loan
servicing. We do not know what steps the CFPB or Congress may take
in response to these actions and whether such actions (if any) will
have an adverse effect on our business or results of
operations.</P>
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On August 9, 2013, the Bipartisan Student Loan Certainty Act became
law. Under the Act, interest rates on all Direct loans to
undergraduates are pegged to the 10-year T-bill rate plus 2.05%,
with a cap at 8.25%. Interest rates on Direct loans to
post-graduate students will be at the T-bill rate plus 3.6%, with a
cap at 9.5%. Interest rates on Direct PLUS loans are set at the
T-bill rate plus 4.6%, with a cap at 10.5%. Direct consolidation
loan rates will be a weighted average of the interest rates of the
consolidated loans rounded to the nearest 1/8<FONT CLASS=
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of 1%. Interest rates would be reset every July 1<FONT CLASS=
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and effective for loans taken out from July 1<FONT CLASS=
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to June 30<FONT CLASS="superscript" STYLE=
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of the next year. Those interest rates would be effective for the
life of the loan.</P>
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<FONT STYLE="letter-spacing: -.1pt;">On December 19, 2013, Senator
Jack Reed (D-RI) introduced legislation in the Senate that would
create a risk sharing program for those institutions with more than
25% of its students participating in a student loan program.
Institutions in the program would be assessed between 5 and 20
percent of the amount students owe on their loans, depending on the
degree to which the institution&#8217;s cohort default rate
exceeded 15%. Senator Reed again introduced such legislation in the
Senate on April 4, 2015. Similar legislation was introduced in the
House in September 2014 and May 2015. The POST Act of 2013,
introduced in the Senate by Senator Richard Durbin (D-IL) and in
the House by Representative Steve Cohen (D-TN), would require
proprietary institutions to derive at least 15% of their revenue
from non-federal funding sources, and federal funding sources would
be redefined to include funds from the Department of Defense and
Department of Veterans Affairs except any housing stipend provided
under the Post-9/11 Veterans Assistance Education Program. The POST
Act of 2015 was reintroduced in the Senate on November 10, 2015 and
in the House on November 19, 2015. We cannot predict whether these
or similar bills, and others affecting our business, will be
reintroduced in the 114<FONT CLASS="superscript" STYLE=
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Congress and will pass or what, if any, impact they would have on
our business.</FONT></P>
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<FONT CLASS="Italic" STYLE=
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Congress reviews and determines appropriations for Title IV
programs on an annual basis. An elimination of certain Title IV
programs, a reduction in federal funding levels of such programs,
material changes in the requirements for participation in such
programs, or the substitution of materially different programs
could reduce the ability of certain students to finance their
education. This, in turn, could lead to lower enrollments at
Strayer University or require us to increase our reliance upon
alternative sources of student financial aid. Given the significant
percentage of our revenues that are derived indirectly from the
Title IV programs, the loss of or a significant reduction in Title
IV program funds available to our students could have a material
adverse effect on Strayer University.</P>
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<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Senate Health,
Education, Labor and Pensions (HELP) Committee</FONT></P>
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In 2010, the U.S. Congress increased its focus on proprietary
education institutions, including regarding participation in Title
IV programs and DOD oversight of tuition assistance for military
service members. Since June 2010, the Senate HELP Committee,
formerly led by Senator Harkin, has held hearings to examine the
proprietary education sector. Other committees of the U.S. Congress
have also held hearings into, among other</P>
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23</P>
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things, the standards and procedures of accrediting agencies,
credit hours and program length, the portion of federal student
financial aid going to proprietary institutions, and the receipt of
veterans and military education benefits by students enrolled at
proprietary institutions. Strayer University has cooperated with
these inquiries. A number of legislators have variously requested
the Government Accountability Office (GAO) to review and make
recommendations regarding, among other things, recruitment
practices, educational quality, student outcomes, the sufficiency
of integrity safeguards against waste, fraud and abuse in Title IV
programs, and the percentage of proprietary institutions&#8217;
revenue coming from Title IV and other federal funding sources. The
GAO released four reports on for-profit post-secondary education:
first, a report in August 2010 (subsequently revised in November
2010) that concluded, based on a three-month undercover
investigation, that employees at a non-random sample of 15
proprietary institutions (not including Strayer University) made
deceptive statements to students about accreditation, graduation
rates, job placement, program costs, and financial aid; second, a
report in October 2010 critical of the Department of
Education&#8217;s efforts to enforce the ban on incentive payments;
third, a report in October 2011 critical of the student experience
and instructor performance at some for-profit online institutions;
and fourth, a report in December 2011 comparing various student
outcomes across proprietary, non-profit, and public
institutions.</P>
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On July 30, 2012, the then-majority of the Senate HELP Committee,
led by Democrats, released its final report on the for-profit
sector of higher education entitled &#8220;For Profit Higher
Education: The Failure to Safeguard the Federal Investment and
Ensure Student Success.&#8221; While acknowledging that for-profit
institutions have a role to play in higher education, the report
criticized the proprietary institution industry on many fronts.
However, the report also concluded that Strayer University&#8217;s
&#8220;performance, measured by student withdrawal and default
rates, is one of the best of any company examined, and it appears
that students are faring well at this degree based for-profit
college.&#8221; S. Rept. 112-37. The report ultimately recommended
several measures for reform which could change the participation of
proprietary institutions in Title IV funding, including the
following:</P>
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&#8226;</FONT></FONT><FONT CLASS="bullet" STYLE=
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Tie access to federal financial aid to minimum student outcome
thresholds.</P>
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&#8226;</FONT></FONT><FONT CLASS="bullet" STYLE=
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Prohibit institutions from funding marketing, advertising and
recruiting activities with federal financial aid dollars.</P>
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<FONT CLASS="bullet" STYLE=
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&#8226;</FONT></FONT><FONT CLASS="bullet" STYLE=
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Expand the reporting period for cohort default rates beyond three
years.</P>
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<FONT CLASS="bullet" STYLE=
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&#8226;</FONT></FONT><FONT CLASS="bullet" STYLE=
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Require that for-profits receive 15% of revenues from non-federal
sources.</P>
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<FONT CLASS="bullet" STYLE=
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&#8226;</FONT></FONT><FONT CLASS="bullet" STYLE=
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Extend the ban on incentive compensation to include all employees
of institutions of higher education, and clarify that this ban
extends to numeric threshold or quota-based termination
policies.</P>
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The report was not adopted by the full Committee, and the
Republican minority released their own report criticizing the
majority&#8217;s investigation in many aspects, including that it
did not include a review of all institutions of higher education.
In addition, on July 30, 2014, the then-majority of the Committee
released a report entitled &#8220;Is the New G.I. Bill Working?:
For-Profit Colleges Increasing Veteran Enrollment and Federal
Funds,&#8221; detailing the amount of Post-9/11 GI Bill Benefits
paid to for-profit colleges, including Strayer, and recommending
that the 90/10 rule be &#8220;strengthened.&#8221; The report
states that at least four companies, including Strayer,
&#8220;appear to be receiving close to or more than half of their
reported non-federal financial aid revenue on the 10 side of the
equation from Post-9/11 GI bill benefit funds.&#8221; Of the top
ten proprietary institutions mentioned receiving such funds,
Strayer University was noted as receiving one of the lowest amounts
of Post-9/11 GI Bill funds.</P>
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On September 21, 2012, a group of Democratic senators wrote a
letter to the Federal Trade Commission urging it to evaluate the
marketing practices utilized by many proprietary institutions
through the use of third-party lead generators. In addition,
legislation was introduced in the Senate by then Senator Harkin in
April 2012, which would prevent institutions from using Title IV
funds for marketing activities. Similar legislation may be
introduced in the 114<FONT CLASS="superscript" STYLE=
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Congress.</P>
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This increased congressional activity is expected to continue and
may result in legislation, further rulemaking affecting
participation in Title IV programs, and other governmental
actions.</P>
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<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">U.S. Department of
Education</FONT></P>
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Title IV regulations applicable to Strayer University have been
subject to frequent revisions, many of which have increased the
level of scrutiny to which higher education institutions are
subjected and have raised applicable standards. In October 2009,
the Department of Education published final regulations to
implement</P>
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24</P>
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the HEOA&#8217;s numerous new and revised requirements for higher
education institutions. These regulations were effective July 1,
2010. On October 29, 2010, the Department of Education published
final regulations regarding program integrity at higher education
institutions (Program Integrity Regulations), most of which became
effective July 1, 2011. On November 25, 2014, the Department of
Education issued a Notice of Proposed Rulemaking related to teacher
preparation programs which would, among other things, encourage
states to develop systems to identify high- and low-performing
teacher preparation programs and report annually on the performance
of such programs. On August 20, 2015, the Department of Education
initiated a new negotiated rulemaking process to develop proposed
regulations for determining which acts or omissions of an
institution a borrower may assert as a defense to repayment of a
loan made under the Direct Loan Program and the consequences of
such borrower defenses for borrowers, institutions, and the
Secretary of Education. The negotiations began in January 2016. On
October 30, 2015, the Department of Education published final
regulations amending the Department&#8217;s cash management
regulations and rules related to repeat coursework. On October 30,
2015, the Department of Education also published final regulations
creating a new income-contingent repayment plan and implementing
changes to streamline and enhance existing processes for
borrowers.</P>
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On February 8, 2016, the Department of Education announced the
creation of a Student Aid Enforcement Unit to enable the Department
to respond more quickly and efficiently to allegations of illegal
actions by higher education institutions. The Enforcement Unit will
consist of four divisions, including an Investigations Group, a
Borrower Defense Group, an Administrative Actions and Appeals
Service Group, and a Clery Group. The creation of the Enforcement
Unit is designed to ensure that the Department can support more
reviews of high-risk institutions, respond to concerns raised by
states&#8217; and other federal agencies&#8217; investigations, and
respond to complaints and claims for loan forgiveness by
students.</P>
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Strayer University must comply with the campus safety and security
reporting requirements as well as other requirements in the Jeanne
Clery Disclosure of Campus Security Policy and Campus Crime
Statistics Act, or Clery Act, including recent changes made to the
Clery Act by the Violence Against Women Reauthorization Act of
2013, which was signed into law on March 7, 2013. On April 1, 2014,
a negotiated rulemaking committee reached consensus on proposed
regulations, and on October 20, 2014, the Department of Education
promulgated final regulations implementing the recent amendments to
the Clery Act. In addition, the Department of Education has
interpreted Title IX of the Education Amendments of 1972
(&#8220;Title IX&#8221;) to categorize sexual violence as a form of
prohibited sex discrimination and to require institutions to follow
certain disciplinary procedures with respect to such offenses.
Failure to comply with Clery Act or Title IX requirements or
regulations thereunder could result in action by the Department of
Education to require corrective action, fine the University or
limit or suspend its participation in Title IV programs, could lead
to litigation, and could harm the University&#8217;s
reputation.</P>
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<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">State
Licensure</FONT></P>
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Under the Program Integrity Regulations regarding state licensure,
a proprietary institution is considered legally authorized by a
state if the state has a process to review and appropriately act on
complaints concerning the institution, including enforcing
applicable state laws, and the institution complies with certain
state approval or licensure requirements consistent with the
Program Integrity Regulations. These requirements became effective
July 1, 2011, but the Department of Education issued a series of
extensions of the implementation date provided certain conditions
were met, the last of which expired on June 30, 2015. As of July 1,
2015, these requirements are fully operative.</P>
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On October 29, 2010, the Department of Education adopted new
regulations, which were to be effective July 1, 2011, regarding
state authorization of online programs. The revised rules specified
that if an institution offers post-secondary education through
distance or correspondence education to students in a state in
which it is not physically located or in which it is otherwise
subject to state jurisdiction as determined by the state, the
institution must meet any state requirements for it to be legally
offering post-secondary distance or correspondence education in
that state. On June 5, 2012, the Court of Appeals upheld a lower
court&#8217;s ruling vacating the state authorization of online
programs requirement. On July 27, 2012, the Department of Education
issued a Dear Colleague Letter cautioning education institutions to
remain in compliance with all applicable state laws and regulations
related to distance education. In April 2013, the Department of
Education announced that it would add state authorization of
distance education to a negotiated rulemaking previously initiated
in May 2012. While four negotiated rulemaking sessions were
conducted from February through May 2014, no consensus was reached.
To date, the Department of Education has not issued a proposed
rulemaking on this issue.</P>
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25</P>
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The Program Integrity Regulations also amended the general
provisions regarding student consumer information. Under this
revision, the institution must make available for review to any
enrolled or prospective student upon request, a copy of the
documents describing the institution&#8217;s accreditation and its
state, federal, or tribal approval or licensing. The institution
must also provide its students or prospective students with contact
information for filing complaints with its accreditor and with its
state approval or licensing entity and any other relevant state
official or agency that would appropriately handle a
student&#8217;s complaint.</P>
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We are authorized to offer our programs by the applicable
educational regulatory agencies in all states where our physical
campuses and online delivery facilities are located, and these
states have the applicable complaint processes in place as required
by the regulations.</P>
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<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Incentive
Compensation</FONT></P>
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Institutions participating in the Title IV programs may not pay any
commission, bonus, or other incentive payment based directly or
indirectly on securing enrollments or financial aid to personnel
engaged in recruitment or admissions or making decisions about
awarding Title IV aid. Previously, there were 12 &#8220;safe
harbors&#8221; relating to payment and compensation plans that
institutions may practice without fear of violating the
prohibition. The Program Integrity Regulations removed the safe
harbors when they became effective on July 1, 2011. In June 2015,
the Department of Education announced in a memorandum that it will
revise its approach to measuring damages for noncompliance with the
incentive payment prohibition. The Department of Education will
calculate the amount of institutional liability based on the cost
to the Department of the Title IV funds improperly received by the
institution, including the cost to the Department of all Title IV
funds received by the institution over a period of time if those
funds were obtained through implementation of a policy or practice
in which students were recruited in violation of the incentive
payment prohibition.</P>
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<FONT STYLE="letter-spacing: -.1pt;">The regulations prohibit
incentive compensation to employees engaged in any student
recruitment or admission activity or in making decisions regarding
the award of Title IV funds that is based in any part, directly or
indirectly, upon success in securing enrollments or the award of
financial aid. Merit-based adjustments to employee compensation may
be made if they are not based in any part, directly or indirectly,
upon success in securing enrollments or the award of financial aid.
Profit-sharing payments may be made as long as they are not
provided to any person who is engaged in student recruitment or
admission activity or in making decisions regarding the award of
Title IV funds. The regulations also obligate a third-party
servicer to refer to the Office of Inspector General of the
Department of Education any information indicating payment of any
commission, bonus, or other incentive payment based in any part,
directly or indirectly, upon success in securing enrollments or the
award of financial aid to any person or entity engaged in any
student recruitment or admission activity or in making decisions
regarding the award of Title IV funds.</FONT></P>
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<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Misrepresentation</FONT></P>
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Under the Higher Education Act, the Department of Education may
fine, suspend or terminate the participation in Title IV programs
by an institution that engages in substantial misrepresentation of
the nature of its educational program, its financial charges, or
the employability of its graduates. The Program Integrity
Regulations set forth the types of activities that constitute
misrepresentation and describe the adverse actions that the
Department of Education may take if it finds that an institution or
a third party that provides educational programs, marketing,
advertising, recruiting or admissions services to the institution
engaged in substantial misrepresentation. The new rule specifies
the types of statements that can subject the institution to
liability for misrepresentation, the nature and form of misleading
statements, and provides that an institution may not describe the
eligible institution&#8217;s participation in Title IV programs in
a manner that suggests approval or endorsement by the U.S.
Department of Education of the quality of its educational programs.
On June 5, 2012, the U.S. Court of Appeals for the District of
Columbia Circuit held that the Department of Education&#8217;s
expansion of the definition of misrepresentation to include
&#8220;any statement that has the likelihood or tendency to deceive
or confuse&#8221; was unsupported by law, and thus vacated that
portion of the regulation. In response to the court&#8217;s ruling,
on September 20, 2013, the Department of Education published
technical amendments to the regulation.</P>
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26</P>
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<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Gainful Employment
Reporting and Disclosure</FONT></P>
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Under the Higher Education Act, a proprietary institution offering
programs of study other than a baccalaureate degree in liberal arts
(for which there is a limited statutory exception) must prepare
students for gainful employment in a recognized occupation. The
Program Integrity Regulations established new annual reporting
requirements that are applicable to these programs. For each such
program, Strayer University reported specific information regarding
the program, the students enrolled in the program, and students who
completed the program, including the amount the student received
from private educational loans and institutional financing plans.
In addition, the Program Integrity Regulations require institutions
with gainful employment programs to disclose to prospective
students certain information relating to those programs, including
the occupations that the program prepares students to enter; the
on-time graduation rate; tuition, fees, and costs; job placement
rates, if applicable; and median loan debt of students who
completed the program. Strayer University makes such disclosures on
its website and in promotional materials. The June 30, 2012 U.S.
District Court for the District of Columbia decision related to
Gainful Employment vacated the reporting requirements, but the
disclosure requirements remain in effect. The Department of
Education required institutions to make the first disclosures by
July 1, 2011 to update the disclosures for the 2011-2012 award year
by January 31, 2013, and to update the disclosures for the
2012-2013 award year, using a newly developed template released by
the Department of Education in November 2013 by January 31, 2014,
which was subsequently updated in September 2014. We made our first
disclosures in 2011, and completed timely updates of the
disclosures for the 2011-2012, 2012-2013, and 2013-2014 years.</P>
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The new gainful employment regulations, which became effective on
July 1, 2015, re-established reporting requirements previously
invalidated by the U.S. District Court, with the first reporting
required by July 31, 2015 of information related to the previous
second through seventh award years. In addition, institutions will
be required every year thereafter to report certain student and
program level information to the Department of Education every
subsequent year for the most recently concluded award year. In
addition, the new regulation will sunset the current program
disclosures on December 31, 2016, with new disclosures required, as
determined by subsequent releases to be published by the Department
of Education in the Federal Register, starting in January 2017.</P>
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<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">New
Programs</FONT></P>
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The new gainful employment regulation that became effective July 1,
2015 provides that an institution may establish a new
program&#8217;s Title IV eligibility by updating the list of the
institution&#8217;s programs maintained by the Department of
Education. However, an institution may not update its list of
eligible programs to include a gainful employment program, or a
gainful employment program that is substantially similar to a
failing or zone program that the institution voluntarily
discontinued or became ineligible, that was subject to the
three-year loss of eligibility until that three-year period
expires.</P>
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<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Administration of
Financial Aid</FONT></P>
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Several of the Program Integrity Regulations relate to the
administration of financial aid, including the areas of the
definition of online attendance, definition of credit hours,
measuring satisfactory academic progress, return of federal funds
when a student withdraws, verification and disbursement.</P>
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<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">College Affordability
and Transparency Lists</FONT></P>
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The Department of Education publishes on its website lists of the
top 5% of institutions, in each of nine categories, with (1) the
highest tuition and fees for the most recent academic year, (2) the
highest &#8220;net price&#8221; for the most recent academic year,
(3) the largest percentage increase in tuition and fees for the
most recent three academic years, and (4) the largest percentage
increase in net price for the most recent three academic years. An
institution that is placed on a list for high percentage increases
in either tuition and fees or in net price must submit a report to
the Department of Education explaining the increases and the steps
that it intends to take to reduce costs. The Department of
Education will report annually to Congress on these institutions
and will publish their reports on its website. The Department of
Education also posts lists of the top 10% of institutions in each
of the nine categories with lowest tuition and fees or the lowest
net price for the most recent academic year. Under HEOA, net price
means average yearly price actually charged to first-time,
full-time undergraduate students who receive student aid at a
higher education institution after such aid is deducted.</P>
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27</P>
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<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">College
Scorecard</FONT></P>
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On December 19, 2014, the Department of Education issued a
framework for a college ratings system, which was to include
predominantly four-year and two-year institutions. On June 25,
2015, the Department of Education stated that in lieu of the
previously announced college ratings system, it would instead
create a consumer-driven website that will allow users to compare
colleges based on measures that may be of importance to them. In
September 2015, the Department of Education publicly released its
&#8220;College Scorecard&#8221; website. Among other
characteristics, the College Scorecard allows users to search for
schools based upon programs offered, location, size, tax status,
mission, and religious affiliation.</P>
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<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Executive Order on
Military and Veterans Benefits Programs</FONT></P>
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In April 2012, President Obama issued an Executive Order directing
the Departments of Defense and Veterans Affairs, along with other
Executive Branch agencies, to implement actions to establish
&#8220;Principles of Excellence&#8221; to apply to educational
institutions receiving funding from Federal military and veterans
educational benefits programs, including benefits programs provided
by the Post-9/11 GI Bill and the tuition assistance program. The
Principles of Excellence relate broadly to information regarding
tuition and fees, academic quality, marketing, and state
authorization requirements. The Principles of Excellence require
federal agencies to create a centralized complaint system for
students receiving federal military and veterans&#8217; educational
benefits to register complaints that relevant agencies can track
and address. On January 30, 2014, the Department of Defense,
Department of Veterans Affairs, Department of Education, and
Federal Trade Commission, in collaboration with the CFPB and the
U.S. Department of Justice, announced a new online student
complaint system for service members, veterans, and their families
to report negative experiences at education institutions and
training programs administering the Post-9/11 GI Bill, Department
of Defense tuition assistance programs, and other military-related
education benefit programs.</P>
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<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Credit
Hours</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
In 2009, the Department of Education&#8217;s Office of Inspector
General criticized three accreditors, including Middle States, for
deficiency in their oversight of institutions&#8217; credit hour
allocations. In June 2010, the House Education and Labor Committee
held a hearing concerning accrediting agencies&#8217; standards for
assessing institutions&#8217; credit hour policies. The Program
Integrity Regulations define the term &#8220;credit hour&#8221; for
the first time and require accrediting agencies and/or state
authorization agencies to review the reliability and accuracy of an
institution&#8217;s credit hour assignments. If an accreditor does
not comply with this requirement, its recognition by the Department
of Education could be jeopardized. If an accreditor identifies
systematic or significant noncompliance in one or more of an
institution&#8217;s programs, the accreditor must notify the
Secretary of Education. If the Department of Education determines
that an institution is out of compliance with the credit hour
definition, the Department of Education could impose liabilities or
other sanctions.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Additional
Information</FONT></P>
<P CLASS="Textind" STYLE=
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We maintain a website at www.strayereducation.com. The information
on our website is not incorporated by reference in this Annual
Report on Form 10-K and our web address is included as an inactive
textual reference only. We make available on our website our Annual
Report on Form 10-K, Quarterly Reports on Form 10-Q, Current
Reports on Form 8-K and amendments to those reports filed or
furnished pursuant to Section 13(a) or 15(d) of the Exchange Act as
soon as reasonably practicable after we electronically file such
material with, or furnish it to, the SEC.</P>
<P CLASS="Textind" STYLE=
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The Form 10-K and other reports filed with the SEC can be read or
copied at the SEC&#8217;s Public Reference Room at 100 F Street,
N.E., Washington, D.C. 20549. Information on the operation of the
Public Reference Room can be obtained by calling the SEC at
1-800-SEC-0330. The SEC maintains a website that contains reports,
proxy and information statements, and other information regarding
issuers that file electronically with the SEC; the website address
is www.sec.gov.</P>
<P CLASS="LRH" STYLE=
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28</P>
<P CLASS="H2" STYLE=
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<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Item
1A.</FONT><FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;</FONT> Risk
Factors</FONT></P>
<P CLASS="Textind" STYLE=
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<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Investing in our
common stock involves a high degree of risk. You should carefully
consider the following risk factors and all other information
contained in this Annual Report on Form 10-K or in the documents
incorporated by reference herein before making an investment
decision. The occurrence of any of the following risks could
materially harm our business, adversely affect the market price of
our common stock and could cause you to suffer a partial or
complete loss of your investment. Additional risks not presently
known to us or that we currently deem immaterial may also
materially harm our business and operations. See &#8220;Cautionary
Notice Regarding Forward-Looking Statements.&#8221;</FONT></P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Risks Related to
Extensive Regulation of Our Business</FONT></P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
If we fail to comply with the extensive regulatory requirements for
our business, we could face significant monetary liabilities, fines
and penalties, including loss of access to federal student loans
and grants for our students.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
As a provider of higher education, we are subject to extensive
regulation on both the federal and state levels. In particular, the
Higher Education Act and related regulations subject Strayer
University and all other higher education institutions that
participate in the various Title IV programs to significant
regulatory scrutiny.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The Higher Education Act mandates specific regulatory
responsibilities for each of the following components of the higher
education regulatory triad: (1) the federal government through the
Department of Education; (2) the accrediting agencies recognized by
the U.S. Secretary of Education (Secretary of Education); and (3)
state education regulatory bodies. In addition, other federal
agencies such as the Consumer Financial Protection Bureau and
Federal Trade Commission, and various state agencies and state
Attorneys General enforce consumer protection laws applicable to
post-secondary educational institutions.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The regulations, standards and policies of these regulatory
agencies frequently change, and changes in, or new interpretations
of, applicable laws, regulations, standards or policies could have
a material adverse effect on our accreditation, authorization to
operate in various states, permissible activities, receipt of funds
under Title IV programs or costs of doing business.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Title IV requirements are enforced by the Department of Education
and in some instances by private plaintiffs. If we are found to be
in noncompliance with these laws, regulations, standards or
policies, we could lose our access to Title IV program funds, which
would have a material adverse effect on our business. Findings of
noncompliance also could result in our being required to pay
monetary damages, or being subjected to fines, penalties,
injunctions, restrictions on our access to Title IV program funds
or other censure that could have a material adverse effect on our
business.</P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Our failure to comply with the Department of Education&#8217;s
gainful employment regulations could result in heightened
disclosure requirements and loss of Title IV
eligibility.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
To be eligible for Title IV funding, academic programs offered by
proprietary institutions of higher education must prepare students
for gainful employment in a recognized occupation. After a federal
court invalidated the previously adopted gainful employment
regulations, the Department of Education convened a negotiated
rulemaking to propose new regulations related to gainful
employment, which negotiations did not yield the required
consensus. On March 25, 2014, the Department of Education published
a Notice of Proposed Rulemaking for public comment, and on October
31, 2014, the Department of Education published the final
regulation, effective July 1, 2015. The new requirements include
two debt-to-earnings measures, consisting of an annual income rate
and a discretionary income rate. The annual income rate measures
student debt in relation to earnings, and the discretionary income
rate measures student debt in relation to discretionary income.
Under the new regulation, a program would pass if the
program&#8217;s graduates:</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 13.0pt;">
&#8226;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
Have an annual income rate that does not exceed 8%;
<B><U><FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold;">or</FONT></U></B></P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 13.0pt;">
&#8226;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
Have a discretionary income rate that does not exceed 20%.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
In addition, a program that does not pass either of the
debt-to-earnings metrics, and that has an annual income rate
between 8% and 12%, or a discretionary income rate between 20% and
30%, would be considered to be in a warning zone. A program would
fail if the program&#8217;s graduates have an annual income rate of
12% or greater</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
29</P>
<P CLASS="Textind" STYLE=
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and a discretionary income rate of 30% or greater. A program would
become Title IV-ineligible for three years if it fails both metrics
for two out of three consecutive years, or fails to pass at least
one metric for four consecutive award years. The regulations
provide a means by which an institution may challenge the
Department of Education&#8217;s calculation of any of the debt
metrics prior to loss of Title IV eligibility.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The requirements associated with the gainful employment regulations
may substantially increase our administrative burdens and could
affect our student enrollment, persistence and retention. Further,
although the regulations provide opportunities for an institution
to correct any potential deficiencies in a program prior to the
loss of Title IV eligibility, the continuing eligibility of our
academic programs will be affected by factors beyond
management&#8217;s control such as changes in our graduates&#8217;
employment and income levels, changes in student borrowing levels,
increases in interest rates, and various other factors. Even if we
were able to correct any deficiency in the gainful employment
metrics in a timely manner, the disclosure requirements associated
with a program&#8217;s failure to meet at least one metric may
adversely affect student enrollments in that program and may
adversely affect the reputation of our institution.</P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Congressional examination of for-profit post-secondary education
could lead to legislation or other governmental action that may
negatively affect the industry.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
In 2010, the U.S. Congress increased its focus on for-profit higher
education institutions, including regarding participation in Title
IV programs and oversight by the Department of Defense of tuition
assistance for military service members attending for-profit
colleges. Since June 2010, the Senate HELP Committee, formerly led
by Senator Harkin, has held hearings to examine the proprietary
education sector, and the final report of the majority Members of
the Committee was critical of the industry as a whole. Further, the
report recommended various reforms which would affect proprietary
institutions&#8217; participation in Title IV programs. Other
Committees of the U.S. Congress have also held hearings into, among
other things, the standards and procedures of accrediting agencies,
credit hours and program length, the portion of federal student
financial aid going to proprietary institutions, and the receipt of
veterans and military education benefits by students enrolled at
proprietary institutions. Strayer University has cooperated with
these inquiries. A number of legislators have variously requested
the GAO to review and make recommendations regarding, among other
things, recruitment practices, educational quality, student
outcomes, the sufficiency of integrity safeguards against waste,
fraud and abuse in Title IV programs, and the percentage of
proprietary institutions&#8217; revenue coming from Title IV and
other federal funding sources. GAO released four reports on
for-profit post-secondary education: first, a report in August 2010
(subsequently revised in November 2010) that concluded, based on a
three-month undercover investigation, that employees at a
non-random sample of 15 proprietary institutions (not including
Strayer University) made deceptive statements to students about
accreditation, graduation rates, job placement, program costs, and
financial aid; second, a report in October 2010 critical of the
Department of Education&#8217;s efforts to enforce the ban on
incentive payments; third, a report in October 2011 critical of the
student experience and instructor performance at some for-profit
online institutions; and fourth, a report in December 2011
comparing various student outcomes across proprietary, non-profit,
and public institutions.</P>
<P CLASS="Textind" STYLE=
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On July 30, 2012, the then-majority of the Senate HELP Committee,
led by Democrats, released a report entitled &#8220;For Profit
Higher Education: The Failure to Safeguard the Federal Investment
and Ensure Student Success.&#8221; The report concluded that
Strayer University&#8217;s &#8220;performance, measured by student
withdrawal rates, is one of the best of any company examined, and
it appears that students are faring well at this degree based
for-profit college.&#8221; S. Rept. 112-37. While acknowledging
that for-profit institutions have a role to play in higher
education, the report criticized the proprietary institution
industry on many fronts. The report ultimately recommended several
measures for reform which could change the participation of
proprietary institutions in Title IV funding, including the
following:</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 13.0pt;">
&#8226;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
Tie access to federal financial aid to minimum student outcome
thresholds.</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 13.0pt;">
&#8226;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
Prohibit institutions from funding marketing, advertising and
recruiting activities with federal financial aid dollars.</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 13.0pt;">
&#8226;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
Expand the reporting period for cohort default rates beyond three
years.</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 13.0pt;">
&#8226;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
Require that for-profits receive 15% of revenues from non-federal
sources.</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 13.0pt;">
&#8226;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
Extend the ban on incentive compensation to include all employees
of institutions of higher education, and clarify that this ban
extends to numeric threshold or quota-based termination
policies.</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
30</P>
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The report was not adopted by the full Committee, and the
Republican minority released their own report criticizing the
majority&#8217;s investigation in many aspects, including that it
did not include a review of all institutions of higher education.
In addition, on July 30, 2014, the then-majority of the Committee
released a report entitled &#8220;Is the New G.I. Bill Working?:
For-Profit Colleges Increasing Veteran Enrollment and Federal
Funds,&#8221; detailing the amount of Post-9/11 GI Bill Benefits
paid to for-profit colleges, including Strayer, and recommending
that the 90/10 rule be &#8220;strengthened.&#8221; The report
states that at least four companies, including Strayer,
&#8220;appear to be receiving close to or more than half of their
reported non-federal financial aid revenue on the 10 side of the
equation from Post-9/11 GI bill benefit funds.&#8221; Of the top
ten proprietary institutions mentioned receiving such funds,
Strayer University was noted as receiving one of the lowest amounts
of Post-9/11 GI Bill funds.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
On September 21, 2012, a group of Democratic senators wrote a
letter to the Federal Trade Commission urging it to evaluate the
marketing practices utilized by many proprietary institutions
through the use of third-party lead generators. In addition,
legislation was introduced in the Senate by then Senator Harkin in
April 2012 that would prevent institutions from using Title IV
funds for marketing activities. Similar legislation may be
introduced in the future.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
This increased activity is expected to continue and may result in
legislation, further rulemaking affecting participation in Title IV
programs, and other governmental actions. In addition, concerns
generated by Congressional activity may adversely affect enrollment
in and revenues of for-profit educational institutions. Limitations
on the amount of federal student financial aid for which our
students are eligible under Title IV could materially and adversely
affect our business.</P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
We are dependent on the renewal and maintenance of Title IV
programs.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The Higher Education Act (&#8220;HEA&#8221;), which is the law
authorizing Title IV programs, is subject to periodic
reauthorization. Congress completed the most recent reauthorization
through multiple pieces of legislation and may reauthorize the HEA
in a piecemeal manner in the future. Additionally, Congress
determines the funding level for each Title IV program on an annual
basis. Any action by Congress that significantly reduces funding
for Title IV programs or the ability of our school or students to
participate in these programs could materially harm our business. A
reduction in government funding levels could lead to lower
enrollments at our school and require us to arrange for alternative
sources of financial aid for our students. Lower student
enrollments or our inability to arrange such alternative sources of
funding could adversely affect our business. The automatic
extension of the HEA expired at the end of 2014, but Congress
extended funding for Title IV programs through September 30, 2016,
through the Consolidated and Further Continuing Appropriations Act,
2015.</P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
We are subject to compliance reviews, which, if they resulted in a
material finding of non-compliance, could affect our ability to
participate in Title IV programs.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Because we operate in a highly regulated industry, we are subject
to compliance reviews and claims of non-compliance and related
lawsuits by government agencies, accrediting agencies and third
parties, including claims brought by third parties on behalf of the
federal government. For example, the Department of Education
regularly conducts program reviews of educational institutions that
are participating in Title IV programs, and the Office of Inspector
General of the Department of Education regularly conducts audits
and investigations of such institutions. In August 2010, the
Secretary of Education announced plans to increase the number of
program reviews by 50% to 300 in 2011. The Department of Education
could limit, suspend, or terminate our participation in Title IV
programs or impose other penalties such as requiring us to make
refunds, pay liabilities, or pay an administrative fine upon a
material finding of non-compliance. The Department of Education
conducted four campus-based program reviews of Strayer
University&#8217;s administration of Title IV programs in three
states and the District of Columbia, with one on-site review
conducted August 18-20, 2014; one on-site review conducted
September 8-11, 2014; and two on-site reviews conducted September
22-26, 2014. On October 21, 2014, the Department of Education
issued an Expedited Final Program Review Determination Letter for
one of the program reviews conducted the week of September 22,
2014, closing the program review with no further action required by
us. On November 17, 2014, we received a Program Review Report for
the program review conducted in August 2014, and provided a
response to the Department of Education on December 15, 2014. On
January 7, 2015, we received a Final Program Review Determination
letter from that August 2014 review, closing the program review
with no further action required by us. On March 24, 2015, the
Company received a Program Review Report for another program
review, and provided a response to the Department on April 21,
2015. On April 29, 2015, the Company received a Final Program
Review Determination Letter closing the review and identifying a
payment of less than $500 due to the Department of</P>
<P CLASS="RRH" STYLE=
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31</P>
<P CLASS="Textind" STYLE=
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Education based on an underpayment on a return to Title IV
calculation. The Company remitted payment, and received a letter
from the Department on May 26, 2015, indicating that no further
action was required and that the matter was closed. On September
15, 2015, the Company received a Program Review report for the
final program review, and provided a response to the Department on
October 5, 2015. On January 5, 2016, the Company received a Final
Program Review Determination letter for the final program review,
indicating that the program review was closed and no further action
was required.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
On August 21, 2014, the Department of Education notified Strayer
University that its Program Participation Agreement was approved on
a provisional basis because of the Department of Education&#8217;s
program reviews open at the time of issuance. On October 1, 2014,
we received a fully executed provisional Program Participation
Agreement which allows us to continue to administer Title IV aid
through June 30, 2017, subject to the condition that Strayer
University must obtain the Department of Education&#8217;s approval
for substantial changes, including the addition of any new
location, level of academic offering, or non-degree and degree
programs.</P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
If we fail to maintain our institutional accreditation or if our
institutional accrediting body loses recognition by the Department
of Education, we would lose our ability to participate in Title IV
programs.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The loss of Strayer University&#8217;s accreditation by Middle
States or Middle States&#8217; loss of recognition by the
Department of Education would render Strayer University ineligible
to participate in Title IV programs and would have a material
adverse effect on our business. In addition, an adverse action by
Middle States other than loss of accreditation, such as issuance of
a warning, could have a material adverse effect on our business. In
November 2015, the Department of Education announced a set of
executive actions and legislative proposals to increase
transparency and rigor in accreditation. On January 20, 2016, the
Department of Education issued additional recommendations related
to accreditation. Increased scrutiny of accreditors by the
Secretary of Education in connection with the Department of
Education&#8217;s recognition process may result in increased
scrutiny of institutions by accreditors or have other adverse
consequences.</P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
If we fail to maintain any of our state authorizations, we would
lose our ability to operate in that state and to participate in
Title IV programs there.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Each Strayer University campus is authorized to operate and to
grant degrees, diplomas or certificates by the applicable education
agency of the state where the campus is located. Such state
authorization is required for students at the campus to participate
in Title IV programs. The loss of state authorization would, among
other things, render Strayer University ineligible to participate
in Title IV programs at least at those state campus locations,
limit Strayer University&#8217;s ability to operate in that state
and could have a material adverse effect on our business.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Effective July 1, 2011, Department of Education regulations provide
that a proprietary institution is considered legally authorized by
a state if the state has a process to review and appropriately act
on complaints concerning the institution, including enforcing
applicable state laws, and the institution complies with any
applicable state approval or licensure requirements consistent with
the new rules. However, if a state in which Strayer has a physical
campus fails to comply in the future with the provisions of the new
rule or fails to provide the University with legal authorization,
it could limit Strayer University&#8217;s ability to operate in
that state and have a material adverse effect on our
operations.</P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
If we fail to obtain recertification by the Department of Education
when required, we would lose our ability to participate in Title IV
programs.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
An institution generally must seek recertification from the
Department of Education at least every six years and possibly more
frequently depending on various factors, such as whether it is
provisionally certified. The Department of Education may also
review an institution&#8217;s continued eligibility and
certification to participate in Title IV programs, or scope of
eligibility and certification, in the event the institution
undergoes a change in ownership resulting in a change of control or
expands its activities in certain ways, such as the addition of
certain types of new programs, or, in certain cases, changes to the
academic credentials that it offers. In certain circumstances, the
Department of Education must provisionally certify an institution.
The Department of Education may withdraw our certification if it
determines that we are not fulfilling material requirements for
continued participation in Title IV programs. If the Department of
Education does not renew, or withdraws our certification to
participate in Title IV programs, our students would no longer be
able to receive Title IV program funds, which would have a material
adverse effect on our business.</P>
<P CLASS="LRH" STYLE=
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32</P>
<P CLASS="Textind" STYLE=
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Each institution participating in Title IV programs must enter into
a Program Participation Agreement with the Department of Education.
Under the agreement, the institution agrees to follow the
Department of Education&#8217;s rules and regulations governing
Title IV programs. On October 1, 2014, Strayer University received
an executed provisional Program Participation Agreement with the
Department of Education allowing it to participate in Title IV
programs until June 30, 2017. The Program Participation Agreement
was issued on a provisional basis because of the Department of
Education&#8217;s program reviews open at the time of issuance.
Under the provisional agreement, the only material additional
condition that the University must comply with is obtaining
Department of Education approval for substantial changes, including
the addition of any new location, level of academic offering, or
non-degree and degree programs.</P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
A failure to demonstrate financial responsibility or administrative
capability may result in the loss of eligibility to participate in
Title IV programs.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
To be eligible to participate in Title IV programs, Strayer
University must comply with specific standards and procedures set
forth in the Higher Education Act and the regulations issued
thereunder by the Department of Education, including, among other
things, certain standards of financial responsibility and
administrative capability. If we fail to demonstrate financial
responsibility or maintain administrative capability under the
Department of Education&#8217;s regulations, we could lose our
eligibility to participate in Title IV programs or have that
eligibility adversely conditioned, which would have a material
adverse effect on our business.</P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Student loan defaults could result in the loss of eligibility to
participate in Title IV programs.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
In general, under the Higher Education Act, an educational
institution may lose its eligibility to participate in some or all
Title IV programs if, for three consecutive federal fiscal years,
30% or more of its students who were required to begin repaying
their student loans in the relevant federal fiscal year default on
their payment by the end of the second federal fiscal year
following that fiscal year. Institutions with a cohort default rate
equal to or greater than 15% for any of the three most recent
fiscal years for which data are available are subject to a 30-day
delayed disbursement period for first-year, first-time borrowers.
Because its cohort default rate for 2010 was 15.1%, Strayer
University disburses Direct Loans in this manner. In addition, an
institution may lose its eligibility to participate in some or all
Title IV programs if its default rate for a federal fiscal year was
greater than 40%.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
If we lose eligibility to participate in Title IV programs because
of high student loan default rates, it would have a material
adverse effect on our business. Strayer University&#8217;s
three-year cohort default rates for federal fiscal years 2010, 2011
and 2012, were 15.1%, 14.9%, and 11.6%, respectively. The average
official cohort default rates for proprietary institutions
nationally were 21.8%, 19.1% and 15.8% for federal fiscal years
2010, 2011, and 2012, respectively.</P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Strayer University could lose its eligibility to participate in
federal student financial aid programs or be provisionally
certified with respect to such participation if the percentage of
our revenues derived from those programs were too high.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
A proprietary institution may lose its eligibility to participate
in the federal Title IV student financial aid program if it derives
more than 90% of its revenues, on a cash basis, from Title IV
programs for two consecutive fiscal years. A proprietary
institution of higher education that violates the 90/10 Rule for
any fiscal year will be placed on provisional status for up to two
fiscal years. Using the formula specified in the Higher Education
Opportunity Act, we derived approximately 73% of our cash-basis
revenues from these programs in 2014. Certain members of Congress
have proposed to revise the 90/10 Rule to count tuition assistance
provided by the Department of Defense and veterans education
benefits, along with Title IV revenue, toward the 90% limit and to
reduce the limit to 85% of total revenue, which proposals could
make it difficult for us to comply with the 90/10 rule. If we were
to violate the 90/10 Rule, the loss of eligibility to participate
in the federal student financial aid programs would have a material
adverse effect on our business.</P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Our failure to comply with the Department of Education&#8217;s
incentive compensation rules could result in sanctions and other
liability.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
If we pay a bonus, commission or other incentive payment in
violation of applicable Department of Education rules or if the
Department of Education or other third parties interpret our
compensation practices as such, we could be subject to sanctions or
other liability, which could have a material adverse effect on our
business.</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
33</P>
<P CLASS="H3ind" STYLE=
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<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Our failure to comply with the Department of Education&#8217;s
misrepresentation rules could result in sanctions and other
liability.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The Higher Education Act prohibits an institution that participates
in Title IV programs from engaging in &#8220;substantial
misrepresentation&#8221; of the nature of its educational program,
its financial charges, or the employability of its graduates. The
Department of Education&#8217;s Program Integrity Regulations,
which took effect July 1, 2011, interpret this provision to
prohibit any statement on those topics, made by the institution or
a third party that provides educational programs, marketing,
advertising, recruiting, or admissions services to the institution,
that has the likelihood or tendency to confuse. Although the U.S.
Court of Appeals for the District of Columbia held on June 5, 2012,
that the term &#8220;substantial misrepresentation&#8221; could not
include true, nondeceitful statements that are merely confusing,
the misrepresentation rules are expansive. In the event of
substantial misrepresentation, the Department of Education may
revoke an institution&#8217;s program participation agreement,
limit the institution&#8217;s participation in Title IV programs,
deny applications from the institution such as to add new programs
or locations, initiate proceedings to fine the institution or
limit, suspend, or terminate its eligibility to participate in
Title IV programs. If the Department of Education or other third
parties interpret statements made by us or on our behalf to be in
violation of the new regulations, we could be subject to sanctions
and other liability, which could have a material adverse effect on
our business.</P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Our failure to comply with the Department of Education&#8217;s
credit hour rule could result in sanctions and other
liability.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
In 2009, the Department of Education&#8217;s Office of Inspector
General criticized three accreditors, including Middle States, for
deficiency in their oversight of institutions&#8217; credit hour
allocations. In June 2010, the House Education and Labor Committee
held a hearing concerning accrediting agencies&#8217; standards for
assessing institutions&#8217; credit hour policies. The Program
Integrity Regulations defined, effective July 1, 2011, the term
&#8220;credit hour&#8221; for the first time and require
accrediting agencies and state authorization agencies to review the
reliability and accuracy of an institution&#8217;s credit hour
assignments. If an accreditor does not comply with this
requirement, its recognition by the Department of Education could
be jeopardized. If an accreditor identifies systematic or
significant noncompliance in one or more of an institution&#8217;s
programs, the accreditor must notify the Secretary of Education. If
the Department of Education determines that an institution is out
of compliance with the credit hour definition, the Department of
Education could impose liabilities or other sanctions, which could
have a material adverse effect on our business.</P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Our failure to comply with the Jeanne Clery Disclosure of Campus
Security Policy and Campus Crime Statistics Act or Title IX of the
Education Amendments of 1972 could result in sanctions and other
liability.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Strayer University must comply with the campus safety and security
reporting requirements as well as other requirements in the Jeanne
Clery Disclosure of Campus Security Policy and Campus Crime
Statistics Act, or Clery Act, including recent changes made to the
Clery Act by the Violence Against Women Reauthorization Act of
2013, which was signed into law on March 7, 2013. On April 1, 2014,
a negotiated rulemaking committee reached consensus on proposed
regulations, and on October 20, 2014, the Department of Education
promulgated final regulations implementing the recent amendments to
the Clery Act. In addition, the Department of Education has
interpreted Title IX to categorize sexual violence as a form of
prohibited sex discrimination and to require institutions to follow
certain disciplinary procedures with respect to such offenses.
Failure to comply with Clery Act or Title IX requirements or
regulations thereunder could result in action by the Department of
Education to require corrective action, fine the University or
limit or suspend its participation in Title IV programs, could lead
to litigation, and could harm the University&#8217;s
reputation.</P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
We are subject to sanctions if we fail to calculate accurately and
make timely payment of refunds of Title IV program funds for
students who withdraw before completing their educational
program.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The Higher Education Act and Department of Education regulations
require us to calculate refunds of unearned Title IV program funds
disbursed to students who withdraw from their educational program
before completing it. If refunds are not properly calculated or
timely paid, we may be required to post a letter of credit with the
Department of Education or be subject to sanctions or other adverse
actions by the Department of Education, which could have a material
adverse effect on our business.</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
34</P>
<P CLASS="H3ind" STYLE=
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<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Investigations, legislative and regulatory developments and general
credit market conditions related to the student loan industry may
result in fewer lenders and loan products and increased regulatory
burdens and costs.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The HEOA contains new requirements pertinent to relationships
between lenders and institutions. In 2009, the Department of
Education promulgated regulations that address these relationships,
and state legislators have also passed or may be considering
legislation related to relationships between lenders and
institutions. In addition, new procedures introduced and
recommendations made by the Consumer Financial Protection Bureau
create uncertainty about whether Congress will impose new burdens
on private student lenders. These developments, as well as
legislative and regulatory changes such as those relating to
gainful employment and repayment rates creating uncertainty in the
industry and general credit market conditions, may cause some
lenders to decide not to provide certain loan products and may
impose increased administrative and regulatory costs. Such actions
could reduce demand for and/or availability of private education
loans, decrease Strayer University&#8217;s non-Title IV revenue and
thereby increase Strayer University&#8217;s 90/10 ratio and have a
material adverse effect on our business.</P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
We rely on one or more third parties to administer our
participation in Title IV programs and failure to comply with
applicable regulations by a third party or by us could cause us to
lose our eligibility to participate in Title IV
programs.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Until September 30, 2011, Global Financial Aid Services, Inc.
assisted us with the administration of our participation in Title
IV programs, and other third parties continue to assist us with
other aspects of our participation in the Title IV programs.
Because Strayer University is jointly and severally liable to the
Department of Education for the actions of third-party servicers,
failure of such servicers to comply with applicable regulations
could have a material adverse effect on Strayer University,
including loss of eligibility to participate in Title IV programs.
If any of the third-party servicers discontinue providing such
services to us, we may not be able to replace them in a timely,
cost-efficient, or effective manner, or at all, and we could lose
our ability to comply with the requirements of the Title IV
programs, which could adversely affect our enrollment, revenues and
results of operations.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Since September 30, 2011, we have directly administered Strayer
University&#8217;s participation in Title IV programs. If our
financial aid personnel, processes, and quality assurance
procedures fail to comply with applicable regulation, such failure
could have a material adverse effect on Strayer University,
including loss of eligibility to participate in Title IV
programs.</P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Our business could be harmed if we experience a disruption in our
ability to process student loans under the Federal Direct Loan
Program.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We collected the majority of our fiscal year 2015 total
consolidated net revenue from receipt of Title IV financial aid
program funds, principally from federal student loans under the
Federal Direct Loan Program. Any processing disruptions by the
Department of Education may affect our students&#8217; ability to
obtain student loans on a timely basis. If we experience a
disruption in our ability to process student loans through the
Federal Direct Loan Program, either because of administrative
challenges on our part or the inability of the Department of
Education to process the volume of direct loans on a timely basis,
our business, financial condition, results of operations and cash
flows could be adversely and materially affected.</P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Our business could be harmed if Congress makes changes to the
availability of Title IV funds.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We collected the majority of our fiscal year 2015 total
consolidated net revenue from receipt of Title IV financial aid
program funds, principally from federal student loans under the
Federal Direct Loan Program. Changes in the availability of these
funds or a reduction in the amount of funds disbursed may have a
material adverse effect on our enrollment, financial condition,
results of operations and cash flows. Congress eliminated further
federal direct subsidized loans for graduate and professional
students as of July 1, 2012. On August 9, 2013, Congress passed
legislation that ties interest rates on Title IV loans to the rate
paid on U.S. Treasury bonds. Interest rates are set every July
1<FONT CLASS="superscript" STYLE=
"font-size: 6pt; mso-style-name: superscript; vertical-align: super;">st</FONT>
for loans taken out from July 1<FONT CLASS="superscript" STYLE=
"font-size: 6pt; mso-style-name: superscript; vertical-align: super;">st</FONT>
to June 30<FONT CLASS="superscript" STYLE=
"font-size: 6pt; mso-style-name: superscript; vertical-align: super;">th</FONT>
of the following year. In April 2011, Congress eliminated
year-round Pell Grant awards beginning with the 2011-2012 award
year and in July 2012, Congress reduced eligibility for Pell Grants
from 18 semesters to 12 semesters. To date these changes have not
had a material impact on our business, but future changes in the
availability of Title IV funds could impact students&#8217; ability
to fund their education and thus may have a material adverse effect
on our enrollment, financial condition, results of operations and
cash flows.</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
35</P>
<P CLASS="H2" STYLE=
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<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Risks Related to Our
Business</FONT></P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Our enrollment rate is uncertain, and we may not be able to assess
our future enrollments effectively.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Our growth depends on a number of factors, including increased
unemployment and the resulting lower confidence in job prospects,
and many of the regulatory risks discussed above. In 2011, we
revised our business model to acknowledge lower growth or
reductions in enrollments. Our enrollment in 2016 will be affected
by legislative uncertainty, regulatory activity, and market
conditions. Until legislative, regulatory, and market uncertainty
are resolved, it may be difficult to assess whether and to what
extent there is an impact on our long-term growth prospects. In
2013, 2014 and 2015, we closed physical locations to better align
our resources with our current student enrollments. Although we may
continue to invest in new campuses and to pursue our strategic
goals in the future, there can be no assurance as to what our
growth rate will be or as to the steps we may need to take if
regulatory and legislative matters are not clarified or if market
conditions do not stabilize.</P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Opening new campuses and adding new services are dependent on our
forecast of the demand for adult-focused post-secondary education
and on regulatory approvals.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Establishing new locations and adding new services require us to
expend significant resources, including making human capital and
financial capital investments, incurring marketing expenses and
reallocating other resources. Since significant growth in
enrollment in new campuses is required for them to become
profitable, our willingness to add new campuses depends on our
ability to predict growth in enrollment. The recent activity by the
Department of Education and the U.S. Congress has introduced
uncertainties into our business model and has slowed our pace of
opening of new campuses, and we do not currently have plans to open
new campuses in 2016. To open a new location, we are required to
obtain appropriate federal, state, and accrediting agency
approvals, which may be conditioned or delayed in a manner that
could significantly affect our growth plans. We cannot assure
investors that we will continue to open new campus locations or add
new services in the future.</P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Our future success depends in part upon our ability to recruit and
retain key personnel.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Our success to date has been, and our continuing success will be,
substantially dependent upon our ability to attract and retain
highly qualified executive officers, faculty and administrators and
other key personnel. If we cease to employ any of these integral
personnel or fail to manage a smooth transition to new personnel,
our business could suffer.</P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Our success depends in part on our ability to update and expand the
content of existing academic programs and develop new programs in a
cost-effective manner and on a timely basis.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Our success depends in part on our ability to update and expand the
content of our academic programs, develop new programs in a
cost-effective manner and meet students&#8217; needs in a timely
manner. Prospective employers of our graduates increasingly demand
that their entry-level employees possess appropriate technological
and other skills. The update and expansion of our existing programs
and the development of new programs may not be received favorably
by students, prospective employers or the online education market.
If we cannot respond to changes in industry requirements, our
business may be adversely affected. Even if we are able to develop
acceptable new programs, we may not be able to introduce these new
programs as quickly as students require due to regulatory
constraints or as quickly as our competitors introduce competing
new programs.</P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Our financial performance depends in part on our ability to
continue to develop awareness of the academic programs we offer
among working adult students.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The continued development of awareness of the academic programs we
offer among working adult students is critical to the continued
acceptance and growth of our programs. If we are unable to continue
to develop awareness of the programs we offer, this could limit our
enrollments and negatively impact our business. The following are
some of the factors that could prevent us from successfully
marketing our programs:</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 13.0pt;">
&#8226;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
the emergence of more successful competitors;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 13.0pt;">
&#8226;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
customer dissatisfaction with our services and programs;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 13.0pt;">
&#8226;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
performance problems with our online systems; and</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 13.0pt;">
&#8226;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
our failure to maintain or expand our brand or other factors
related to our marketing.</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
36</P>
<P CLASS="H3ind" STYLE=
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<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Congressional and other governmental activities could damage the
reputation of Strayer University and limit our ability to attract
and retain students.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Since 2010, the U.S. Congress has increased its focus on
proprietary educational institutions, including administration of
Title IV programs, military assistance programs, and other federal
programs. The Department of Education has indicated to Congress
that it intends to increase its regulation of and attention to
proprietary educational institutions, and the Government
Accountability Office has released several reports of
investigations into proprietary educational institutions. In 2014,
the Department of Education announced the creation of an
interagency task force to oversee proprietary educational
institutions by coordinating the activities of several agencies and
promote information sharing among the agencies, which include the
Departments of Justice, VA, the CFPB, the FTC, and the Securities
and Exchange Commission as well as state attorneys general. These
and other governmental activities, including new regulations on
program integrity and gainful employment, even if resulting in no
adverse findings or actions against Strayer, singly or cumulatively
could affect public perception of investor-funded higher education,
damage the reputation of Strayer University, and limit our ability
to attract and retain students.</P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
We face strong competition in the post-secondary education
market.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Post-secondary education in our market area is highly competitive.
We compete with traditional public and private two-year and
four-year colleges, other for-profit schools and alternatives to
higher education, such as employment and military service. Public
colleges may offer programs similar to those of Strayer University
at a lower tuition level as a result of government subsidies,
government and foundation grants, tax-deductible contributions and
other financial sources not available to proprietary institutions.
Some of our competitors in both the public and private sectors have
substantially greater financial and other resources than we do.
Congress, the Department of Education, and other agencies require
increasing disclosure of information to consumers. While we believe
that Strayer University provides valuable education to its
students, we cannot predict the bases on which individual students
and potential students will choose among the range of educational
and other options available to them. This strong competition could
adversely affect our business.</P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Strayer University relies on exclusive proprietary rights and
intellectual property, and competitors may attempt to duplicate
Strayer programs and methods.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Third parties may attempt to develop competing programs or
duplicate or copy aspects of Strayer University&#8217;s curriculum,
online library, quality management and other proprietary content.
Any such attempt, if successful, could adversely affect our
business. In the ordinary course of its business, Strayer develops
intellectual property of many kinds that is or will be the subject
of copyright, trademark, service mark, patent, trade secret or
other protections. Such intellectual property includes but is not
limited to Strayer&#8217;s courseware materials for classes taught
online and business know-how and internal processes and procedures
developed to respond to the requirements of its various education
regulatory agencies.</P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Seasonal and other fluctuations in our operating results could
adversely affect the trading price of our common stock.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Our business is subject to seasonal fluctuations, which cause our
operating results to fluctuate from quarter to quarter. This
fluctuation may result in volatility or have an adverse effect on
the market price of our common stock. We experience, and expect to
continue to experience, seasonal fluctuations in our revenue.
Historically, our quarterly revenues and income have been lowest in
the third quarter (July through September) because fewer students
are enrolled during the summer months. We also incur significant
expenses in the third quarter in preparing for our peak enrollment
in the fourth quarter (October through December), including
investing in online and campus infrastructure necessary to support
increased usage. These investments result in fluctuations in our
operating results which could result in volatility or have an
adverse effect on the market price of our common stock. In
addition, the online education market is a rapidly evolving market,
and we may not be able to forecast accurately future enrollment
growth and revenues.</P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Regulatory requirements may make it more difficult to acquire
us.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
A change in ownership resulting in a change of control of Strayer
would trigger a requirement for recertification of Strayer
University by the Department of Education for purposes of
participation in federal student financial aid programs, a review
of Strayer University&#8217;s accreditation by Middle States and
reauthorization of Strayer University by certain state licensing
and other regulatory agencies. If we underwent a change of control
that required approval</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
37</P>
<P CLASS="Textind" STYLE=
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by any state authority, Middle States or any federal agency, and
any required regulatory approval were significantly delayed,
limited or denied, there could be a material adverse effect on our
ability to offer certain educational programs, award certain
degrees, diplomas or certificates, operate one or more of our
locations, admit certain students or participate in Title IV
programs, which in turn could have a material adverse effect on our
business. These factors may discourage takeover attempts.</P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Capacity constraints or system disruptions to Strayer
University&#8217;s computer networks could damage the reputation of
Strayer University and limit our ability to attract and retain
students.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The performance and reliability of Strayer University&#8217;s
computer networks, especially the online educational platform, is
critical to our reputation and ability to attract and retain
students. Any system error or failure, or a sudden and significant
increase in traffic, could result in the unavailability of Strayer
University&#8217;s computer networks. We cannot assure you that
Strayer University, including its online educational platform, will
be able to expand its program infrastructure on a timely basis
sufficient to meet demand for its programs. Strayer
University&#8217;s computer systems and operations could be
vulnerable to interruption or malfunction due to events beyond its
control, including natural disasters and telecommunications
failures. Any interruption to Strayer University&#8217;s computer
systems or operations could have a material adverse effect on our
ability to attract and retain students.</P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Strayer University&#8217;s computer networks may be vulnerable to
security risks that could disrupt operations and require it to
expend significant resources.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Strayer University&#8217;s computer networks may be vulnerable to
unauthorized access, computer hackers, computer viruses and other
security problems. A user who circumvents security measures could
misappropriate proprietary information or cause interruptions or
malfunctions in operations. As a result, Strayer University may be
required to expend significant resources to protect against the
threat of these security breaches or to alleviate problems caused
by these breaches.</P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
The personal information that we collect may be vulnerable to
breach, theft or loss that could adversely affect our reputation
and operations.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Possession and use of personal information in our operations
subject us to risks and costs that could harm our business. We
collect, use, and retain large amounts of personal information
regarding our students and their families, including social
security numbers, tax return information, personal and family
financial data and credit card numbers. We also collect and
maintain personal information of our employees in the ordinary
course of our business. Some of this personal information is held
and managed by certain vendors. Although we use security and
business controls to limit access and use of personal information,
a third party may be able to circumvent those security and business
controls, which could result in a breach of student or employee
privacy. In addition, errors in the storage, use or transmission of
personal information could result in a breach of student or
employee privacy. Possession and use of personal information in our
operations also subjects us to legislative and regulatory burdens
that could require notification of data breaches and restrict our
use of personal information. We cannot assure you that a breach,
loss or theft of personal information will not occur. A breach,
theft or loss of personal information regarding our students and
their families or our employees that is held by us or our vendors
could have a material adverse effect on our reputation and results
of operations and result in liability under state and federal
privacy statutes and legal actions by state authorities and private
litigants, any of which could have a material adverse effect on our
business.</P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Strayer University, with its online programs, operates in a highly
competitive market with rapid technological changes and it may not
compete successfully.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Online education is a highly fragmented and competitive market that
is subject to rapid technological change. Competitors vary in size
and organization from traditional colleges and universities, many
of which have some form of online education programs, to for-profit
schools, corporate universities and software companies providing
online education and training software. We expect the online
education and training market to be subject to rapid changes in
technologies. Strayer University&#8217;s success will depend on its
ability to adapt to these changing technologies.</P>
<P CLASS="H3ind" STYLE=
"mso-style-name: H3_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-BoldIt; color: black; font-weight: bold; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
We may not be able to complete or integrate any future acquisitions
successfully.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
As part of our growth strategy, we expect to consider selective
acquisitions. We cannot assure investors that we will be able to
complete successfully any acquisitions on favorable terms, or that
if we do, we will be</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
38</P>
<P CLASS="Textind" STYLE=
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able to integrate successfully the personnel, operations and
technologies of any such acquisitions. Our failure to complete or
integrate successfully future acquisitions could disrupt our
business and materially and adversely affect our profitability and
liquidity by distracting our management and employees and
increasing our expenses. In addition, because an acquisition is
considered a change in ownership and control of the acquired
institution under applicable regulatory standards, we must seek
approval from the Department of Education if the acquired
institution participates in Title IV programs, and most applicable
state agencies and accrediting agencies and possibly other
regulatory bodies when we acquire an institution. If we were unable
to obtain such approvals of an institution we acquired, depending
on the size of that acquisition, that failure could have a material
adverse effect on our business.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Item
1B.</FONT><FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;</FONT> Unresolved Staff
Comments</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
There are no SEC staff comments on our periodic SEC reports which
are unresolved.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Item
2.</FONT><FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
Properties</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Except for five campus facilities which we own, our campus and
administrative facilities are leased. Our facilities are located
predominantly in the Eastern United States. The Company&#8217;s
corporate headquarters is located at 2303 Dulles Station Blvd.,
Herndon, VA 20171, while the headquarters and main campus of
Strayer University is located at 1133 15<FONT CLASS="superscript"
STYLE=
"font-size: 6pt; mso-style-name: superscript; vertical-align: super;">th</FONT>
Street, Washington, DC 20005. Our leases generally range from five
to 10 years with one to two renewal options for extended terms. As
of December 31, 2015, we leased 88 campus and administrative
facilities consisting of approximately 1.7 million square feet. The
facilities that we own consist of approximately 110,000 square
feet.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
As announced in October 2013, we closed 20 physical locations
predominantly in the Midwest. We have subleased or terminated
arrangements on some of this space, and to date approximately
200,000 square feet remains vacant, with remaining lease
obligations ranging from six months to six years. We are evaluating
various options to address unused facility space including sublets,
both short-term and long-term, and lease buyouts.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We evaluate current utilization of our facilities and anticipated
enrollment to determine facility needs. We do not anticipate any
significant addition of campus or administrative space in 2016.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
For more information regarding our ongoing lease commitments, see
Notes to Consolidated Financial Statements below.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Item
3.</FONT><FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
Legal Proceedings</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
From time to time, we are involved in litigation and other legal
proceedings arising out of the ordinary course of our business.
There are no pending material legal proceedings to which we are
subject or to which our property is subject.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Item
4.</FONT><FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
Mine Safety Disclosures</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Not applicable.</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
39</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">PART II</FONT></P>
<P CLASS="H2" STYLE=
"margin-left: 48.0pt; text-indent: -48.0pt; mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Item
5.</FONT><FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
Market for Registrant&#8217;s Common Equity, Related Stockholder
Matters and Issuer Purchases of Equity Securities</FONT></P>
<P CLASS="Textind" STYLE=
"margin-bottom: 10.0pt; mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Our common stock is traded on the NASDAQ Global Select Market under
the symbol &#8220;STRA.&#8221; The following table sets forth, for
the periods indicated, the high, low, and closing sale prices of
our common stock, as reported on the NASDAQ Stock Market.</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
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<TR>
<TD WIDTH="427" VALIGN="bottom" STYLE=
"width: 4.45in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="49" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 37.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
High</P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="49" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 37.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Low</P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="49" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 37.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Close</P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="427" VALIGN="bottom" STYLE=
"width: 4.45in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">2014</FONT></FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="41" VALIGN="bottom" STYLE=
"width: 31.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="41" VALIGN="bottom" STYLE=
"width: 31.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="41" VALIGN="bottom" STYLE=
"width: 31.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="427" VALIGN="bottom" STYLE=
"width: 4.45in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
First Quarter</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="41" VALIGN="bottom" STYLE=
"width: 31.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
51.12</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="41" VALIGN="bottom" STYLE=
"width: 31.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
33.51</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="41" VALIGN="bottom" STYLE=
"width: 31.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
46.43</P>
</TD>
</TR>
<TR>
<TD WIDTH="427" VALIGN="bottom" STYLE=
"width: 4.45in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Second Quarter</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="41" VALIGN="bottom" STYLE=
"width: 31.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
59.99</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="41" VALIGN="bottom" STYLE=
"width: 31.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
41.52</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="41" VALIGN="bottom" STYLE=
"width: 31.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
52.51</P>
</TD>
</TR>
<TR>
<TD WIDTH="427" VALIGN="bottom" STYLE=
"width: 4.45in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Third Quarter</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="41" VALIGN="bottom" STYLE=
"width: 31.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
61.58</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="41" VALIGN="bottom" STYLE=
"width: 31.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
47.47</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="41" VALIGN="bottom" STYLE=
"width: 31.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
59.88</P>
</TD>
</TR>
<TR>
<TD WIDTH="427" VALIGN="bottom" STYLE=
"width: 4.45in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Fourth Quarter</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="41" VALIGN="bottom" STYLE=
"width: 31.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
79.77</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="41" VALIGN="bottom" STYLE=
"width: 31.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
57.27</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="41" VALIGN="bottom" STYLE=
"width: 31.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
74.28</P>
</TD>
</TR>
<TR>
<TD WIDTH="427" VALIGN="bottom" STYLE=
"width: 4.45in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">2015</FONT></FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="41" VALIGN="bottom" STYLE=
"width: 31.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="41" VALIGN="bottom" STYLE=
"width: 31.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="41" VALIGN="bottom" STYLE=
"width: 31.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="427" VALIGN="bottom" STYLE=
"width: 4.45in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
First Quarter</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="41" VALIGN="bottom" STYLE=
"width: 31.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
74.69</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="41" VALIGN="bottom" STYLE=
"width: 31.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
53.26</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="41" VALIGN="bottom" STYLE=
"width: 31.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
53.41</P>
</TD>
</TR>
<TR>
<TD WIDTH="427" VALIGN="bottom" STYLE=
"width: 4.45in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Second Quarter</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="41" VALIGN="bottom" STYLE=
"width: 31.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
55.97</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="41" VALIGN="bottom" STYLE=
"width: 31.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
42.20</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="41" VALIGN="bottom" STYLE=
"width: 31.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
43.10</P>
</TD>
</TR>
<TR>
<TD WIDTH="427" VALIGN="bottom" STYLE=
"width: 4.45in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Third Quarter</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="41" VALIGN="bottom" STYLE=
"width: 31.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
57.91</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="41" VALIGN="bottom" STYLE=
"width: 31.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
41.50</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="41" VALIGN="bottom" STYLE=
"width: 31.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
54.97</P>
</TD>
</TR>
<TR>
<TD WIDTH="427" VALIGN="bottom" STYLE=
"width: 4.45in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Fourth Quarter</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="41" VALIGN="bottom" STYLE=
"width: 31.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
63.85</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="41" VALIGN="bottom" STYLE=
"width: 31.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
49.12</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="41" VALIGN="bottom" STYLE=
"width: 31.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
60.12</P>
</TD>
</TR>
</TABLE>
<P CLASS="Textind" STYLE=
"margin-top: 10.0pt; mso-style-name: Text_ind; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
As of February 1, 2016, there were 11,027,177 shares of common
stock outstanding, and approximately 97 holders of record.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We did not pay a regular quarterly dividend in 2014 or 2015.
Whether to declare dividends and the amount of dividends to be paid
in the future will be reviewed periodically by our Board of
Directors in light of our earnings, cash flow, financial condition,
capital needs, investment opportunities and regulatory
considerations. There is no requirement or assurance that common
dividends will be paid in the future.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Peer Group Performance
Graph</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The following performance graph compares the cumulative stockholder
return on our common stock since December 31, 2010 with The NASDAQ
Stock Market (U.S.) Index and a self-determined peer group
consisting of American Public Education, Inc. (APEI), Apollo
Education Group, Inc. (APOL), Bridgepoint Education, Inc. (BPI),
Capella Education Company (CPLA), Career Education Corporation
(CECO), DeVry Education Group Inc. (DV), Grand Canyon Education,
Inc. (LOPE), ITT Educational Services Inc. (ESI), K12 Inc. (LRN),
Lincoln Educational Services Corporation (LINC) and Universal
Technical Institute, Inc. (UTI). At present, there is no
comparative index for the education industry. This graph is not
deemed to be &#8220;soliciting material&#8221; or to be filed with
the SEC or subject to the SEC&#8217;s proxy rules or to the
liabilities of Section 18 of the Securities Exchange Act, and the
graph shall not be deemed to be incorporated by reference into any
of our prior or subsequent filings under the Securities Act or the
Securities Exchange Act.</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
40</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Comparison of 60 Month
Cumulative Total Return*<BR>
Among Strayer Education, Inc.<BR>
The NASDAQ Stock Market (U.S.) Index and a Peer Group</FONT></P>
<P CLASS="Textflush" ALIGN="center" STYLE=
"margin-bottom: 10.0pt; text-align: center; mso-style-name: Text_flush; margin-top: 6.0pt; margin-right: 0in; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><IMG SRC="image001.jpg" alt=""></FONT></P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" WIDTH="100%" STYLE=
"width: 100.0%; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="29%" VALIGN="bottom" STYLE=
"width: 29.78%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCHleft" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH_left; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">Name</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.42%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.12%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.42%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.74%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">12/31/10</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.42%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.12%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.42%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.74%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">12/31/11</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.42%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.12%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.42%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.74%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">12/31/12</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.42%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.12%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.42%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.74%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">12/31/13</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.42%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.12%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.42%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.74%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">12/31/14</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.42%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
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</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.12%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
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</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.42%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
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</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.74%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">12/31/15</FONT></FONT></P>
</DIV>
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</TR>
<TR>
<TD WIDTH="29%" VALIGN="bottom" STYLE=
"width: 29.78%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
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Strayer Education, Inc.</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.42%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
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<P CLASS="NoParagraphStyle" STYLE=
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<TD WIDTH="1%" VALIGN="bottom" STYLE=
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<P CLASS="NoParagraphStyle" STYLE=
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100</P>
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<TD WIDTH="2%" VALIGN="bottom" STYLE=
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<P CLASS="NoParagraphStyle" STYLE=
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<P CLASS="NoParagraphStyle" STYLE=
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64</P>
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<TD WIDTH="1%" VALIGN="bottom" STYLE=
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<P CLASS="NoParagraphStyle" STYLE=
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<P CLASS="Tbodyrightalign" STYLE=
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37</P>
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<TD WIDTH="1%" VALIGN="bottom" STYLE=
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<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
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23</P>
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<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.42%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<P CLASS="NoParagraphStyle" STYLE=
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49</P>
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<P CLASS="NoParagraphStyle" STYLE=
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39</P>
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NASDAQ Stock Market (U.S.)</P>
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<P CLASS="NoParagraphStyle" STYLE=
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100</P>
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98</P>
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"width: 6.74%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
114</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.42%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.12%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.42%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.74%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
157</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.42%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.12%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.42%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.74%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
179</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.42%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.12%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.42%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.74%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
189</P>
</TD>
</TR>
<TR>
<TD WIDTH="29%" VALIGN="bottom" STYLE=
"width: 29.78%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Peer Group</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.42%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.12%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.42%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.74%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
100</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.42%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.12%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.42%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.74%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
81</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.42%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.12%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.42%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.74%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
56</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.42%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.12%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.42%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.74%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
84</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.42%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.12%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.42%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.74%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
77</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.42%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.12%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.42%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.74%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
48</P>
</TD>
</TR>
</TABLE>
<P CLASS="Tablefootnotef" STYLE=
"margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; line-height: normal; border: none; mso-style-name: Tablefootnote_f; text-autospace: none; padding: 0in; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
____________</P>
<P CLASS="Tablefootnotef" STYLE=
"margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; line-height: normal; border: none; mso-style-name: Tablefootnote_f; text-autospace: none; padding: 0in; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
*&#8194;The comparison assumes $100 was invested on December 31,
2010 in our common stock, the NASDAQ Stock Market (U.S.) Index and
the peer companies selected by us.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
There were no sales by us of unregistered securities during the
year ended December 31, 2015.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
In November 2003, our Board of Directors authorized us to
repurchase shares of common stock in open market purchases from
time to time at the discretion of our management, depending on
market conditions and other corporate considerations. Our Board of
Directors amended the program on various dates, increasing the
repurchase amount authorized and extending the expiration date. At
December 31, 2015, $70.0 million of our share repurchase
authorization was remaining for repurchases through the end of
2016. All of our share repurchases have been effected in compliance
with Rule 10b-18 under the Exchange Act. Some repurchases have been
made in accordance with a share repurchase plan adopted by us under
Rule 10b5-1 under the Exchange Act. Our share repurchase program
may be modified, suspended or terminated at any time by us without
notice.</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
41</P>
<P CLASS="Textflush" STYLE=
"margin-bottom: 10.0pt; mso-style-name: Text_flush; margin-top: 6.0pt; margin-right: 0in; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
A summary of our share repurchases since the inception of the plan
is as follows:</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="358" VALIGN="bottom" STYLE=
"width: 268.8pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="75" VALIGN="bottom" STYLE=
"width: 56.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT LANG="EN-GB">Total<BR>
number of<BR>
shares repurchased</FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="71" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 53.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT LANG="EN-GB">Average dollar price<BR>
paid per<BR>
share</FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="72" COLSPAN="2" VALIGN="bottom" STYLE=
"width: .75in; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Cost of share repurchases (millions)</P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="358" VALIGN="bottom" STYLE=
"width: 268.8pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2003</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="75" VALIGN="bottom" STYLE=
"width: 56.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
32,350</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="63" VALIGN="bottom" STYLE=
"width: 47.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
99.57</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="64" VALIGN="bottom" STYLE=
"width: 48.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
3.2</P>
</TD>
</TR>
<TR>
<TD WIDTH="358" VALIGN="bottom" STYLE=
"width: 268.8pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2004</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="75" VALIGN="bottom" STYLE=
"width: 56.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
346,444</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="63" VALIGN="bottom" STYLE=
"width: 47.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
106.13</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="64" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
36.8</P>
</TD>
</TR>
<TR>
<TD WIDTH="358" VALIGN="bottom" STYLE=
"width: 268.8pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2005</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="75" VALIGN="bottom" STYLE=
"width: 56.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
410,071</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="63" VALIGN="bottom" STYLE=
"width: 47.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
92.59</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="64" VALIGN="bottom" STYLE=
"width: 48.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
38.0</P>
</TD>
</TR>
<TR>
<TD WIDTH="358" VALIGN="bottom" STYLE=
"width: 268.8pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2006</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="75" VALIGN="bottom" STYLE=
"width: 56.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
349,066</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="63" VALIGN="bottom" STYLE=
"width: 47.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
100.39</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="64" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
35.0</P>
</TD>
</TR>
<TR>
<TD WIDTH="358" VALIGN="bottom" STYLE=
"width: 268.8pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2007</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="75" VALIGN="bottom" STYLE=
"width: 56.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
260,818</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="63" VALIGN="bottom" STYLE=
"width: 47.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
146.05</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="64" VALIGN="bottom" STYLE=
"width: 48.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
38.1</P>
</TD>
</TR>
<TR>
<TD WIDTH="358" VALIGN="bottom" STYLE=
"width: 268.8pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2008</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="75" VALIGN="bottom" STYLE=
"width: 56.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
603,382</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="63" VALIGN="bottom" STYLE=
"width: 47.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
180.86</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="64" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
109.1</P>
</TD>
</TR>
<TR>
<TD WIDTH="358" VALIGN="bottom" STYLE=
"width: 268.8pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2009</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="75" VALIGN="bottom" STYLE=
"width: 56.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
451,613</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="63" VALIGN="bottom" STYLE=
"width: 47.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
177.34</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="64" VALIGN="bottom" STYLE=
"width: 48.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
80.1</P>
</TD>
</TR>
<TR>
<TD WIDTH="358" VALIGN="bottom" STYLE=
"width: 268.8pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2010</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="75" VALIGN="bottom" STYLE=
"width: 56.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
687,340</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="63" VALIGN="bottom" STYLE=
"width: 47.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
168.06</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="64" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
115.5</P>
</TD>
</TR>
<TR>
<TD WIDTH="358" VALIGN="bottom" STYLE=
"width: 268.8pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2011</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="75" VALIGN="bottom" STYLE=
"width: 56.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
1,581,444</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="63" VALIGN="bottom" STYLE=
"width: 47.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
128.15</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="64" VALIGN="bottom" STYLE=
"width: 48.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
202.7</P>
</TD>
</TR>
<TR>
<TD WIDTH="358" VALIGN="bottom" STYLE=
"width: 268.8pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2012</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="75" VALIGN="bottom" STYLE=
"width: 56.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
484,841</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="63" VALIGN="bottom" STYLE=
"width: 47.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
51.56</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="64" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
25.0</P>
</TD>
</TR>
<TR>
<TD WIDTH="358" VALIGN="bottom" STYLE=
"width: 268.8pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2013</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="75" VALIGN="bottom" STYLE=
"width: 56.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
495,085</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="63" VALIGN="bottom" STYLE=
"width: 47.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
50.49</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="64" VALIGN="bottom" STYLE=
"width: 48.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
25.0</P>
</TD>
</TR>
<TR>
<TD WIDTH="358" VALIGN="bottom" STYLE=
"width: 268.8pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2014</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="75" VALIGN="bottom" STYLE=
"width: 56.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&#8212;</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="63" VALIGN="bottom" STYLE=
"width: 47.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&#8212;</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="64" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&#8212;</P>
</TD>
</TR>
<TR>
<TD WIDTH="358" VALIGN="bottom" STYLE=
"width: 268.8pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2015</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="75" VALIGN="bottom" STYLE=
"width: 56.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&#8212;</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="63" VALIGN="bottom" STYLE=
"width: 47.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&#8212;</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="64" VALIGN="bottom" STYLE=
"width: 48.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&#8212;</P>
</TD>
</TR>
<TR>
<TD WIDTH="358" VALIGN="bottom" STYLE=
"width: 268.8pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Total</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="75" VALIGN="bottom" STYLE=
"width: 56.0pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
5,702,454</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="63" VALIGN="bottom" STYLE=
"width: 47.0pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
124.24</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="64" VALIGN="bottom" STYLE=
"width: 48.0pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
708.5</P>
</TD>
</TR>
</TABLE>
<P CLASS="Textflush" STYLE=
"margin-top: 10.0pt; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We did not make any share repurchases in 2014 or 2015.</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
42</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Item
6.</FONT><FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
Selected Financial Data</FONT></P>
<P CLASS="Textind" STYLE=
"margin-bottom: 10.0pt; mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT STYLE="letter-spacing: -.1pt;">The following table sets
forth, for the periods and at the dates indicated, selected
consolidated financial and operating data. The financial
information has been derived from our consolidated financial
statements. The information set forth below is qualified by
reference to and should be read in conjunction with our
consolidated financial statements and notes thereto and
&#8220;Management&#8217;s Discussion and Analysis of Financial
Condition and Results of Operations&#8221; and other information
included elsewhere or incorporated by reference in this Annual
Report on Form 10-K.</FONT></P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="469" COLSPAN="22" VALIGN="bottom" STYLE=
"width: 352.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Year Ended December 31,</P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
2011</P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
2012</P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
2013</P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
2014</P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
2015</P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="469" COLSPAN="22" VALIGN="bottom" STYLE=
"width: 352.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; padding: 0in; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">(Dollar and share amounts in thousands, except per share
data)</FONT></FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">Income Statement Data:</FONT></FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
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</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
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<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
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</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Revenues</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
627,434</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
561,979</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
503,600</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
446,041</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
434,437</P>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Costs and expenses:</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Instruction and educational support</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
292,003</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
300,098</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
310,446</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
236,303</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
234,097</P>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Marketing</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
74,293</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
71,864</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
75,426</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
66,495</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
70,084</P>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
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Admissions advisory</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
26,531</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
26,374</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
20,390</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
16,661</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
16,304</P>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
General and administration</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
55,464</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
50,056</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
64,637</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
44,835</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
44,254</P>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Total costs and expenses</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
448,291</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
448,392</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
470,899</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
364,294</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
364,739</P>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Income from operations</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
179,143</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
113,587</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
32,701</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
81,747</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
69,698</P>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Investment and other income</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
152</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
4</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
117</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
283</P>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Interest expense</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
3,773</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
4,616</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
5,419</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
5,248</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
3,850</P>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Income before income taxes</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
175,522</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
108,975</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
27,284</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
76,616</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
66,131</P>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Provision for income taxes</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
69,478</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
43,045</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10,859</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
30,260</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
26,108</P>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Net income</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
106,044</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
65,930</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
16,425</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
46,356</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
40,023</P>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG="EN-GB">Net
income per share:</FONT></FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Basic</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
8.91</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
5.79</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
1.55</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
4.39</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
3.78</P>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Diluted</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
8.88</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
5.76</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
1.55</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
4.35</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
3.73</P>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">Weighted average shares outstanding:</FONT></FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Basic</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
11,906</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
11,390</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10,584</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10,561</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10,588</P>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">Diluted<FONT CLASS="superscript" STYLE=
"font-size: 6pt; mso-style-name: superscript; vertical-align: super;">(a)</FONT></FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
11,943</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
11,440</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10,624</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10,650</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10,740</P>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG="EN-GB">Other
Data:</FONT></FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Depreciation and amortization</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
21,525</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
23,973</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
35,563</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
20,630</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
18,104</P>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Stock-based compensation expense</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
13,234</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
5,464</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
9,291</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
9,453</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10,213</P>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Capital expenditures</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
29,991</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
24,733</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
8,726</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
6,902</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
12,692</P>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Cash dividends per common<BR>
share (paid)</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
4.00</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
4.00</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&#8212;</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&#8212;</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&#8212;</P>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Average enrollment<FONT CLASS="superscript"
STYLE=
"font-size: 6pt; mso-style-name: superscript; vertical-align: super;">(b)</FONT></FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
53,901</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
49,323</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
43,969</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
40,254</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
40,450</P>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Campuses<FONT CLASS="superscript" STYLE=
"font-size: 6pt; mso-style-name: superscript; vertical-align: super;">(c)</FONT></FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
92</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
97</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
100</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
79</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
76</P>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Full-time employees<FONT CLASS="superscript"
STYLE=
"font-size: 6pt; mso-style-name: superscript; vertical-align: super;">(d)</FONT></FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2,140</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2,019</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
1,485</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
1,455</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
1,401</P>
</TD>
</TR>
</TABLE>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
43</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="469" COLSPAN="22" VALIGN="bottom" STYLE=
"width: 352.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
At December 31,</P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
2011</P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
2012</P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
2013</P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
2014</P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
2015</P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="469" COLSPAN="22" VALIGN="bottom" STYLE=
"width: 352.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; padding: 0in; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG="EN-GB">(In
thousands)</FONT></FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">Balance Sheet Data:</FONT></FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Cash, cash equivalents and marketable
securities</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
57,137</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
47,517</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
94,760</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
162,283</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
106,889</P>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Working capital<FONT CLASS="superscript" STYLE=
"font-size: 6pt; mso-style-name: superscript; vertical-align: super;">(e)</FONT></FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
17,484</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
46,631</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
82,182</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
140,316</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
81,207</P>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Total assets</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
231,133</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
227,792</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
254,266</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
307,815</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
248,434</P>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Long-term debt</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
90,000</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
121,875</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
118,750</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
112,500</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&#8212;</P>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Other long-term liabilities</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
21,656</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
21,905</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
51,456</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
46,248</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
47,987</P>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Total liabilities</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
188,840</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
186,804</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
215,364</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
215,083</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
105,578</P>
</TD>
</TR>
<TR>
<TD WIDTH="224" VALIGN="bottom" STYLE=
"width: 168.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Total stockholders&#8217; equity</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
42,293</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
40,988</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
38,902</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
92,732</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
142,856</P>
</TD>
</TR>
</TABLE>
<P CLASS="Tablefootnotef" STYLE=
"margin-top: 0in; line-height: normal; border: none; mso-style-name: Tablefootnote_f; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -20.0pt; text-autospace: none; padding: 0in; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
____________</P>
<P CLASS="Tablefootnotef" STYLE=
"margin-top: 0in; line-height: normal; border: none; mso-style-name: Tablefootnote_f; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -20.0pt; text-autospace: none; padding: 0in; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(a)<FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;</FONT>
Diluted weighted average shares outstanding include common shares
issued and outstanding, and the dilutive impact of restricted
stock, restricted stock units, and outstanding stock options using
the Treasury Stock Method.</P>
<P CLASS="Tablefootnotem" STYLE=
"mso-style-name: Tablefootnote_m; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -20.0pt; line-height: 10.0pt; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(b)<FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;</FONT>
Reflects average student enrollment for the four academic terms for
each year indicated.</P>
<P CLASS="Tablefootnotem" STYLE=
"mso-style-name: Tablefootnote_m; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -20.0pt; line-height: 10.0pt; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(c)<FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;</FONT>
Reflects number of campuses offering classes during the fourth
quarter of each year indicated. In October 2013, we announced that
20 physical locations would be closed after classes were taught in
the fall academic term. The University now has 76 physical
campuses.</P>
<P CLASS="Tablefootnotem" STYLE=
"mso-style-name: Tablefootnote_m; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -20.0pt; line-height: 10.0pt; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(d)<FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;</FONT>
Reflects full-time employees including full-time faculty as of
December 31 of each year.</P>
<P CLASS="Tablefootnotem" STYLE=
"mso-style-name: Tablefootnote_m; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -20.0pt; line-height: 10.0pt; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(e)<FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;</FONT>
Working capital is calculated by subtracting current liabilities
from current assets.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Item
7.</FONT><FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
Management&#8217;s Discussion and Analysis of Financial Condition
and Results of Operations</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">You should read the
following discussion in conjunction with &#8220;Selected Financial
Data,&#8221; our consolidated financial statements and the notes
thereto, the &#8220;Cautionary Notice Regarding Forward-Looking
Statements,&#8221; Item 1A entitled &#8220;Risk Factors&#8221; and
the other information appearing elsewhere, or incorporated by
reference, in this Annual Report on Form 10-K.</FONT></P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Background and
Overview</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT STYLE="letter-spacing: -.15pt;">We are an education services
holding company that owns Strayer University and, as of January 13,
2016, the New York Code and Design Academy. Strayer University is
an institution of higher education which offers undergraduate and
graduate degree programs at physical campuses, predominantly
located in the Eastern United States, and online.</FONT></P>
<P CLASS="Textind" STYLE=
"margin-bottom: 10.0pt; mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Set forth below are average Strayer University enrollment,
full-time undergraduate tuition rates, revenues, income from
operations, net income, and diluted net income per share for the
last three years.</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="360" VALIGN="bottom" STYLE=
"width: 3.75in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="291" COLSPAN="18" VALIGN="bottom" STYLE=
"width: 218.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Year Ended December 31,</P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="360" VALIGN="bottom" STYLE=
"width: 3.75in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="72" COLSPAN="4" VALIGN="bottom" STYLE=
"width: .75in; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
2013</P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="72" COLSPAN="4" VALIGN="bottom" STYLE=
"width: .75in; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
2014</P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="72" COLSPAN="4" VALIGN="bottom" STYLE=
"width: .75in; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
2015</P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="360" VALIGN="bottom" STYLE=
"width: 3.75in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Average enrollment</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="38" VALIGN="bottom" STYLE=
"width: 28.7pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
43,969</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="38" VALIGN="bottom" STYLE=
"width: 28.7pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
40,254</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="38" VALIGN="bottom" STYLE=
"width: 28.7pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
40,450</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="360" VALIGN="bottom" STYLE=
"width: 3.75in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
% Change from prior year</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="38" VALIGN="bottom" STYLE=
"width: 28.7pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(11</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="38" VALIGN="bottom" STYLE=
"width: 28.7pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(8</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="38" VALIGN="bottom" STYLE=
"width: 28.7pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&lt;1</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
</TR>
<TR>
<TD WIDTH="360" VALIGN="bottom" STYLE=
"width: 3.75in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Full-time tuition for a new student (per
course)</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="38" VALIGN="bottom" STYLE=
"width: 28.7pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
1,700</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="38" VALIGN="bottom" STYLE=
"width: 28.7pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
1,420</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="38" VALIGN="bottom" STYLE=
"width: 28.7pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
1,420</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="360" VALIGN="bottom" STYLE=
"width: 3.75in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
% Change from prior year</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="38" VALIGN="bottom" STYLE=
"width: 28.7pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
3</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="38" VALIGN="bottom" STYLE=
"width: 28.7pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(16</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="38" VALIGN="bottom" STYLE=
"width: 28.7pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&#8212;</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="360" VALIGN="bottom" STYLE=
"width: 3.75in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Revenues (in thousands)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="38" VALIGN="bottom" STYLE=
"width: 28.7pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
503,600</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="38" VALIGN="bottom" STYLE=
"width: 28.7pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
446,041</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="38" VALIGN="bottom" STYLE=
"width: 28.7pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
434,437</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="360" VALIGN="bottom" STYLE=
"width: 3.75in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
% Change from prior year</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="38" VALIGN="bottom" STYLE=
"width: 28.7pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(10</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="38" VALIGN="bottom" STYLE=
"width: 28.7pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(11</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="38" VALIGN="bottom" STYLE=
"width: 28.7pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(3</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
</TR>
<TR>
<TD WIDTH="360" VALIGN="bottom" STYLE=
"width: 3.75in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Income from operations (in thousands)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="38" VALIGN="bottom" STYLE=
"width: 28.7pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
32,701</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="38" VALIGN="bottom" STYLE=
"width: 28.7pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
81,747</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="38" VALIGN="bottom" STYLE=
"width: 28.7pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
69,698</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="360" VALIGN="bottom" STYLE=
"width: 3.75in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
% Change from prior year</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="38" VALIGN="bottom" STYLE=
"width: 28.7pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(71</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="38" VALIGN="bottom" STYLE=
"width: 28.7pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(150</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="38" VALIGN="bottom" STYLE=
"width: 28.7pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(15</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
</TR>
<TR>
<TD WIDTH="360" VALIGN="bottom" STYLE=
"width: 3.75in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Net income (in thousands)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="38" VALIGN="bottom" STYLE=
"width: 28.7pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
16,425</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="38" VALIGN="bottom" STYLE=
"width: 28.7pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
46,356</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="38" VALIGN="bottom" STYLE=
"width: 28.7pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
40,023</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="360" VALIGN="bottom" STYLE=
"width: 3.75in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
% Change from prior year</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="38" VALIGN="bottom" STYLE=
"width: 28.7pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(75</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="38" VALIGN="bottom" STYLE=
"width: 28.7pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
182</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="38" VALIGN="bottom" STYLE=
"width: 28.7pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(14</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
</TR>
<TR>
<TD WIDTH="360" VALIGN="bottom" STYLE=
"width: 3.75in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Diluted net income per share</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="38" VALIGN="bottom" STYLE=
"width: 28.7pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
1.55</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="38" VALIGN="bottom" STYLE=
"width: 28.7pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
4.35</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="38" VALIGN="bottom" STYLE=
"width: 28.7pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
3.73</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="360" VALIGN="bottom" STYLE=
"width: 3.75in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
% Change from prior year</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="38" VALIGN="bottom" STYLE=
"width: 28.7pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(73</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="38" VALIGN="bottom" STYLE=
"width: 28.7pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
181</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="38" VALIGN="bottom" STYLE=
"width: 28.7pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(14</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
</TR>
</TABLE>
<P CLASS="Textind" STYLE=
"margin-top: 10.0pt; mso-style-name: Text_ind; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Strayer University derives approximately 96% of its revenue from
tuition for educational programs, whether delivered in person at a
physical campus or delivered online. The academic year of the
University is divided into four quarters, which approximately
coincide with the four quarters of the calendar year. Students make
payment arrangements for the tuition for each course at the time of
enrollment. Tuition revenue is recognized in the quarter of
instruction. If a student withdraws from a course prior to
completion, the University refunds a portion of the tuition</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
44</P>
<P CLASS="Textind" STYLE=
"text-indent: 0in; mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
depending on when the withdrawal occurs. Tuition revenue is shown
net of any refunds, withdrawals, corporate discounts, employee
tuition discounts and scholarships. The University also derives
revenue from other sources such as textbook-related income,
certificate revenue, certain academic fees, licensing revenue, and
other income, which are all recognized when earned.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Tuition receivable and deferred revenue for our students are
recorded upon the start of the academic term. Because the
University&#8217;s academic quarters coincide with the calendar
quarters, at the end of the fiscal quarter (and academic term),
tuition receivable represents amounts due from students for
educational services already provided and deferred revenue
represents advance payments for academic services to be provided in
the future. Based upon past experience and judgment, the University
establishes an allowance for doubtful accounts with respect to
accounts receivable. Any uncollected account more than one year
past due is charged against the allowance. Accounts less than one
year past due are reserved according to the length of time the
balance has been outstanding. In establishing reserve amounts, we
also consider the status of students as to whether or not they are
currently enrolled for the next term, as well as the likelihood of
recovering balances that have previously been written off, based on
historical experience. Bad debt expense as a percentage of revenues
for the years ended December 31, 2013, 2014, and 2015, was 4.4%,
3.8% and 3.0%, respectively.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Below is a description of the nature of the costs included in our
operating expense categories:</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><I><FONT STYLE="font-size: 13.0pt; font-family: TimesNewRomanPSStd-Italic;">
&#8226;</FONT></I></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><I><FONT STYLE="font-size: 8.5pt; font-family: TimesNewRomanPSStd-Italic;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></I></FONT>
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Instruction and
educational support expenses</FONT> generally contain items of
expense directly attributable to educational activities of the
University. This expense category includes salaries and benefits of
faculty and academic administrators, as well as administrative
personnel who support and serve student interests. Instruction and
educational support expenses also include costs of educational
supplies and facilities, including rent for campus facilities,
certain costs of establishing and maintaining computer laboratories
and all other physical plant and occupancy costs, with the
exception of costs attributable to the corporate offices. Bad debt
expense incurred on delinquent student account balances is also
included in instruction and educational support expenses.</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><I><FONT STYLE="font-size: 13.0pt; font-family: TimesNewRomanPSStd-Italic;">
&#8226;</FONT></I></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><I><FONT STYLE="font-size: 8.5pt; font-family: TimesNewRomanPSStd-Italic;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></I></FONT>
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Marketing
expenses</FONT> include the costs of advertising and production of
marketing materials and related personnel costs.</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><I><FONT STYLE="font-size: 13.0pt; font-family: TimesNewRomanPSStd-Italic;">
&#8226;</FONT></I></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><I><FONT STYLE="font-size: 8.5pt; font-family: TimesNewRomanPSStd-Italic;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></I></FONT>
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Admissions advisory
expenses</FONT> include salaries, benefits and related costs of
personnel engaged in admissions.</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><I><FONT STYLE="font-size: 13.0pt; font-family: TimesNewRomanPSStd-Italic;">
&#8226;</FONT></I></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><I><FONT STYLE="font-size: 8.5pt; font-family: TimesNewRomanPSStd-Italic;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></I></FONT>
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">General and
administration expenses</FONT> include salaries and benefits of
management and employees engaged in accounting, human resources,
legal, regulatory compliance, and other corporate functions, along
with the occupancy and other related costs attributable to such
functions.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Investment income consists primarily of earnings and realized gains
or losses on investments, and interest expense consists of interest
incurred on our outstanding borrowings, unused revolving credit
facility fees, and amortization of deferred financing costs.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We acquired the New York Code and Design Academy
(&#8220;NYCDA&#8221;) on January 13, 2016. NYCDA provides
non-degree courses in web and application software development,
primarily at its campus in New York City. The acquisition did not
impact our 2015 results and NYCDA&#8217;s results of operations
will be included in our results from the acquisition date.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Critical Accounting
Policies and Estimates</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&#8220;Management&#8217;s Discussion and Analysis of Financial
Condition and Results of Operations&#8221; discusses our
consolidated financial statements, which have been prepared in
accordance with accounting principles generally accepted in the
United States of America. The preparation of these consolidated
financial statements requires management to make estimates and
judgments that affect the reported amounts of assets, liabilities,
revenues and expenses and the related disclosures of contingent
assets and liabilities. On an ongoing basis, management evaluates
its estimates and judgments related to its allowance for doubtful
accounts; income tax provisions; the useful lives of property and
equipment; redemption rates for scholarship programs; fair value of
future contractual operating lease obligations for facilities that
have been closed; valuation of deferred tax assets, goodwill, and
intangible assets; forfeiture rates and achievability of
performance targets for stock-based compensation plans; and accrued
expenses. Management bases its estimates and judgments on
historical experience and various other factors and assumptions
that are believed to be reasonable under the circumstances, the
results of which form the basis for making judgments</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
45</P>
<P CLASS="Textind" STYLE=
"text-indent: 0in; mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
regarding the carrying values of assets and liabilities that are
not readily apparent from other sources. Management regularly
reviews its estimates and judgments for reasonableness and may
modify them in the future. Actual results may differ from these
estimates under different assumptions or conditions.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Management believes that the following critical accounting policies
are its more significant judgments and estimates used in the
preparation of its consolidated financial statements.</P>
<P CLASS="Textind" STYLE=
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<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Revenue
recognition</FONT> &#8212; Like many traditional institutions,
Strayer University offers its educational programs on a quarter
system having four academic terms, which coincide with our
quarterly financial reporting periods. Approximately 96% of our
revenues during the year ended December 31, 2015 consisted of
tuition revenue. Tuition revenue is recognized ratably in the
quarter of instruction as the University provides academic services
in a given term, whether delivered in person at a physical campus
or online. Tuition revenue is shown net of any refunds,
withdrawals, corporate discounts, scholarships and employee tuition
discounts. The University also derives revenue from other sources
such as textbook-related income, certificate revenue, certain
academic fees, licensing revenue, and other income, which are all
recognized when earned. At the start of each academic term, a
liability (deferred revenue) is recorded for academic services to
be provided and a tuition receivable is recorded for the portion of
the tuition not paid in advance. Any cash received prior to the
start of an academic term is recorded as deferred revenue.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Students finance their education in a variety of ways, and
historically about three quarters of our students participated in
one or more financial aid programs provided through Title IV of the
Higher Education Act. In addition, many of our working adult
students finance their own education or receive full or partial
tuition reimbursement from their employers. Those students who are
veterans or active duty military personnel have access to various
additional government-funded educational benefit programs.</P>
<P CLASS="Textind" STYLE=
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A typical class is offered in weekly increments over a ten-week
period and is followed by an exam. Students who withdraw from a
course may be eligible for a refund of tuition charges based on the
timing of the withdrawal. We use the student&#8217;s last date of
attendance for this purpose. Student attendance is based on
physical presence in class for on-ground classes. For online
classes, attendance consists of logging into one&#8217;s course
shell and performing an academically related activity (e.g.,
engaging in a discussion post or taking a quiz).</P>
<P CLASS="Textind" STYLE=
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If a student withdraws from a course prior to completion, a portion
of the tuition is refundable depending on when the withdrawal
occurs. Our refund policy typically permits students who complete
less than half of a course to receive a partial refund of tuition
for that course. Refunds reduce the tuition revenue that would have
otherwise been recognized for that student. Since the
University&#8217;s academic terms coincide with our financial
reporting periods, nearly all refunds are processed and recorded in
the same quarter as the corresponding revenue. The amount of
tuition revenue refundable to students may vary based on the
student&#8217;s state of residence.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
For undergraduate students who withdraw from all their courses
during the quarter of instruction, we reassess collectibility of
tuition and fees for revenue recognition purposes. In addition, we
cease revenue recognition when a student fully withdraws from all
of his or her courses in the academic term. Tuition charges billed
in accordance with our billing schedule may be greater than the pro
rata revenue amount, but the additional amounts are not recognized
as revenue unless they are collected in cash.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
For students who receive funding under Title IV, funds are subject
to return provisions as defined by the Department of Education. If
Title IV funds are returned to the Department of Education, the
student is responsible for paying the amount of prorated tuition
charged to him or her. Loss of financial aid eligibility during an
academic term is rare and would normally coincide with the
student&#8217;s withdrawal from the institution. As discussed
above, we cease revenue recognition upon a student&#8217;s
withdrawal from all of his or her classes in an academic term.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
New students registering in credit-bearing courses in any
undergraduate program for the summer 2013 term (fiscal third
quarter) and subsequent terms qualify for the Graduation Fund,
whereby qualifying students earn tuition credits that are
redeemable in the final year of a student&#8217;s course of study
if he or she successfully remains in the program. Students must
meet all of the University&#8217;s admission requirements and not
be eligible for any previously offered scholarship program. Our
employees and their dependents are not eligible for the program. To
maintain eligibility, students must be enrolled in a
bachelor&#8217;s degree program. Students who have more than one
consecutive term of non-attendance lose any Graduation Fund credits
earned to date, but may earn and accumulate new credits if the
student is reinstated or readmitted by the University in the
future. In their final academic year, qualifying students will
receive one free course for every three courses that were
successfully completed. Revenue and the value of the benefit earned
by students participating in the Graduation Fund is recognized
based on a systematic and rational allocation of the cost of
honoring the benefit earned to each of the underlying revenue
transactions that</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
46</P>
<P CLASS="Textind" STYLE=
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result in progress by the student toward earning the benefit. The
estimated value of awards under the Graduation Fund that will be
recognized in the future is based on historical experience of
students&#8217; persistence in completing their course of study and
earning a degree. Estimated redemption rates of eligible students
vary based on their term of enrollment. As of December 31, 2015, we
had deferred $20.9 million for estimated redemptions earned under
the Graduation Fund. Each quarter we assess our methodologies and
assumptions underlying our estimates for persistence and estimated
redemptions based on actual experience. To date, any adjustments to
our estimates have not been material. However, if actual
persistence or redemption rates change, adjustments to the reserve
may be necessary and could be material.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Tuition receivable
&#8212;</FONT> We record estimates for our allowance for doubtful
accounts for tuition receivable from students primarily based on
our historical collection rates by age of receivable, net of
recoveries, and consideration of other relevant factors. Our
experience is that payment of outstanding balances is significantly
influenced by whether the student returns to the institution as we
require students to make payment arrangements for their outstanding
balances prior to enrollment. Therefore, we monitor outstanding
tuition receivable balances through subsequent terms, increasing
the reserve on such balances over time as the likelihood of
returning to the institution diminishes and our historical
experience indicates collection is less likely. We periodically
assess our methodologies for estimating bad debts in consideration
of actual experience. If the financial condition of our students
were to deteriorate, resulting in evidence of impairment of their
ability to make required payments for tuition payable to us,
additional allowances or write-offs may be required. During 2014
and 2015, our bad debt expense was 3.8% and 3.0% of revenue,
respectively. A change in our allowance for doubtful accounts of 1%
of gross tuition receivable as of December 31, 2015 would have
changed our income from operations by approximately $0.3
million.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;"><FONT STYLE=
"letter-spacing: -.05pt;">Accrued lease and related
costs</FONT></FONT> <FONT STYLE="letter-spacing: -.05pt;">&#8212;
We estimate potential sublease income and vacancy periods for space
that is not in use, adjusting our estimates when circumstances
change. If our estimates change or if we enter into subleases at
rates that are substantially different than our current estimates,
we will adjust our liability for lease and related costs. In 2014
and 2015, we reduced our liability for leases by approximately $4.1
million and $0.4 million, respectively.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Other
estimates</FONT> &#8212; We record estimates for certain of our
accrued expenses and income tax liabilities. We estimate the useful
lives of our property and equipment. We periodically assess
goodwill and intangible assets for impairment. We periodically
review our assumed forfeiture rates and ability to achieve
performance targets for stock-based awards and adjust them as
necessary. Should actual results differ from our estimates,
revisions to our accrued expenses, carrying amount of goodwill and
intangible assets, stock-based compensation expense, and income tax
liabilities may be required.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Results of
Operations</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
In 2015, we generated $434.4 million in revenue, a 3% decrease
compared to 2014, principally due to a 3% decline in revenue per
student. Income from operations was $69.7 million in 2015, and
includes approximately $0.4 million in adjustments to reduce our
liability for losses on facilities no longer in use. Income from
operations in 2014 was $81.7 million, which includes $4.1 million
in adjustments related to the Company&#8217;s restructuring
implemented in the fourth quarter of 2013. Net income in 2015 was
$40.0 million, including approximately $0.3 million in after-tax
benefits from adjustments to the Company&#8217;s liability for
facilities no longer in use, compared to $46.4 million for the same
period in 2014, which reflected approximately $2.6 million in
after-tax charges related to the restructuring. Diluted earnings
per share was $3.73 compared to $4.35 for the same period in 2014.
Diluted earnings per share for 2015 includes $0.03 per share in
after-tax earnings related to the reduction of the Company&#8217;s
liability for losses on facilities no longer in use, and diluted
earnings per share for 2014 reflects approximately $0.23 per share
in after-tax charges related to the restructuring.</P>
<P CLASS="Textind" STYLE=
"margin-bottom: 10.0pt; mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Key enrollment trends by quarter for our total population of
students were as follows:</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="341" VALIGN="bottom" STYLE=
"width: 3.55in; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCHleft" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH_left; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">Academic Term</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="49" VALIGN="bottom" STYLE=
"width: 37.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">2014</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="49" VALIGN="bottom" STYLE=
"width: 37.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">2015</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="60" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 45.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG="EN-GB">%
Change in total students</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="60" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 45.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG="EN-GB">%
Change in new students</FONT></FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="341" VALIGN="bottom" STYLE=
"width: 3.55in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Winter</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="49" VALIGN="bottom" STYLE=
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<P CLASS="Tbodyrightalign" STYLE=
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41,098</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
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</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
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</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
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</TD>
<TD WIDTH="49" VALIGN="bottom" STYLE=
"width: 37.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
40,728</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
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</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
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</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
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<FONT STYLE=
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</TD>
<TD WIDTH="47" VALIGN="bottom" STYLE=
"width: 35.35pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&#8211;1</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
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</TD>
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<FONT STYLE=
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</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
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</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
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</TD>
<TD WIDTH="47" VALIGN="bottom" STYLE=
"width: 35.35pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
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</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
</TR>
<TR>
<TD WIDTH="341" VALIGN="bottom" STYLE=
"width: 3.55in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Spring</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
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</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="49" VALIGN="bottom" STYLE=
"width: 37.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
41,327</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="49" VALIGN="bottom" STYLE=
"width: 37.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
40,875</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
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</TD>
<TD WIDTH="47" VALIGN="bottom" STYLE=
"width: 35.35pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&#8211;1</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
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'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
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</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
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</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
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</TD>
<TD WIDTH="47" VALIGN="bottom" STYLE=
"width: 35.35pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&#8211;1</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
</TR>
<TR>
<TD WIDTH="341" VALIGN="bottom" STYLE=
"width: 3.55in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Summer</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="49" VALIGN="bottom" STYLE=
"width: 37.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
36,403</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
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<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
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</TD>
<TD WIDTH="49" VALIGN="bottom" STYLE=
"width: 37.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
37,221</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
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<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
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'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
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</TD>
<TD WIDTH="47" VALIGN="bottom" STYLE=
"width: 35.35pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
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"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="47" VALIGN="bottom" STYLE=
"width: 35.35pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
4</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
</TR>
<TR>
<TD WIDTH="341" VALIGN="bottom" STYLE=
"width: 3.55in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Fall</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="49" VALIGN="bottom" STYLE=
"width: 37.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
42,189</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="49" VALIGN="bottom" STYLE=
"width: 37.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
42,975</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="47" VALIGN="bottom" STYLE=
"width: 35.35pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="47" VALIGN="bottom" STYLE=
"width: 35.35pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&#8211;1</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
</TR>
<TR>
<TD WIDTH="341" VALIGN="bottom" STYLE=
"width: 3.55in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Average</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="49" VALIGN="bottom" STYLE=
"width: 37.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
40,254</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="49" VALIGN="bottom" STYLE=
"width: 37.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
40,450</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="47" VALIGN="bottom" STYLE=
"width: 35.35pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&lt;1</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="47" VALIGN="bottom" STYLE=
"width: 35.35pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&lt;1</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
</TR>
</TABLE>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
47</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Since 2013 we have introduced a number of initiatives in response
to the variability in our enrollment. Recognizing that
affordability is an important factor in a prospective
student&#8217;s decision to seek a college degree, we reduced
Strayer University undergraduate tuition for new students by 20%
beginning in our 2014 winter academic term. We also introduced the
Graduation Fund in mid-2013, whereby qualifying students can
receive one free course for every three courses successfully
completed. The free courses are redeemable in the student&#8217;s
final academic year. In 2015 we launched Strayer@Work, which works
with Fortune 1000 companies to structure customized degree and
certificate programs for their employees, often with significant
discounts to our published tuition rates. These initiatives had a
negative impact on Strayer University revenue per student, which
declined 3% in 2015 and is expected to decline approximately 2-3%
in 2016.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Partially as a result of these measures, we experienced stable
enrollment in 2015. Should the 2015 enrollment trends continue in
2016 we would expect Strayer University revenue for the full year
2016 to be down slightly due to the decline in revenue per student,
and Strayer University operating expenses in 2016 to be flat to up
2-3%.</P>
<P CLASS="Textind" STYLE=
"margin-bottom: 10.0pt; mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The following table sets forth certain income statement data as a
percentage of revenues for the periods indicated:</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: bold 8pt TimesNewRomanPSStd-Bold; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="font: bold 8pt TimesNewRomanPSStd-Bold; color: black; text-align: center; border-bottom: Black 1pt solid">Year Ended December 31,</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: bold 8pt TimesNewRomanPSStd-Bold; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: bold 8pt TimesNewRomanPSStd-Bold; color: black; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD STYLE="font: bold 8pt TimesNewRomanPSStd-Bold; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: bold 8pt TimesNewRomanPSStd-Bold; color: black; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD STYLE="font: bold 8pt TimesNewRomanPSStd-Bold; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: bold 8pt TimesNewRomanPSStd-Bold; color: black; text-align: center; border-bottom: Black 1pt solid">2015</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 58%; font: 10pt TimesNewRomanPSStd-Regular; color: black; padding-bottom: 1pt; padding-left: 0in">Revenues&#9;</TD><TD STYLE="width: 3%; font: 10pt TimesNewRomanPSStd-Regular; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; border-bottom: Black 1pt solid; font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right">100.0</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">%</TD><TD STYLE="width: 3%; font: 10pt TimesNewRomanPSStd-Regular; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; border-bottom: Black 1pt solid; font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right">100.0</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">%</TD><TD STYLE="width: 3%; font: 10pt TimesNewRomanPSStd-Regular; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; border-bottom: Black 1pt solid; font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right">100.0</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-left: 0in">Costs and expenses:</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-left: 10pt">Instruction and educational support</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right">61.7</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right">53.0</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right">53.9</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; padding-left: 10pt">Marketing</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right">15.0</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right">14.9</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right">16.1</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-left: 10pt">Admissions advisory</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right">4.0</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right">3.7</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right">3.8</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-left: 10pt; padding-bottom: 1pt">General and administration</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right; border-bottom: Black 1pt solid">12.8</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right; border-bottom: Black 1pt solid">10.1</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right; border-bottom: Black 1pt solid">10.2</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-left: 0in; padding-bottom: 1pt">Total costs and expenses</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right; border-bottom: Black 1pt solid">93.5</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right; border-bottom: Black 1pt solid">81.7</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right; border-bottom: Black 1pt solid">84.0</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-left: 0in">Income from operations</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right">6.5</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right">18.3</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right">16.0</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-left: 0in">Investment income</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right">&mdash;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right">&mdash;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right">0.1</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-left: 0in; padding-bottom: 1pt">Interest expense</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right; border-bottom: Black 1pt solid">1.1</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right; border-bottom: Black 1pt solid">1.1</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right; border-bottom: Black 1pt solid">0.9</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-left: 0in">Income before income taxes</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right">5.4</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right">17.2</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right">15.2</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-left: 0in; padding-bottom: 1pt">Provision for income taxes</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right; border-bottom: Black 1pt solid">2.1</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right; border-bottom: Black 1pt solid">6.8</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right; border-bottom: Black 1pt solid">6.0</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-left: 0in; padding-bottom: 2.5pt">Net income</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right; border-bottom: Black 2.5pt double">3.3</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-bottom: 2.5pt">%</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right; border-bottom: Black 2.5pt double">10.4</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-bottom: 2.5pt">%</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right; border-bottom: Black 2.5pt double">9.2</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-bottom: 2.5pt">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-left: 0in">Effective tax rate</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right">39.8</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">%</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right">39.5</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">%</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right">39.5</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">%</TD></TR>
</TABLE>

<P CLASS="H2" STYLE=
"margin-top: 10.0pt; mso-style-name: H2; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Year Ended December 31,
2015 Compared To Year Ended December 31, 2014</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Enrollment.</FONT>
Average enrollment increased to 40,450 students for the year ended
December 31, 2015 from 40,254 students for the same period in
2014.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Revenues.</FONT>
Revenues decreased 3% to $434.4 million in 2015 from $446.0 million
in 2014, principally due to a decline in revenue per student of 3%.
The decline in revenue per student is largely attributable to a new
pricing structure which was implemented for the first quarter of
2014 which reduced tuition for new undergraduate students by
approximately 20%, and made them eligible for our Graduation Fund.
Revenues for undergraduate students were generally unchanged in
2015, driven by an increase in enrollment of 6% and a decline of 6%
in revenue per student, resulting mostly from the new pricing
structure for new undergraduate students. We expect this decline in
revenue per student to continue at the undergraduate level as we
enroll more new undergraduate students over time. For graduate
students, revenues decreased 7% in 2015, driven by an increase in
revenue per student of 3%, offset by a decline in enrollment of
10%. The increase in graduate revenue per student was due primarily
to increased tuition and classes per student compared to 2014.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Instruction and
educational support expenses.</FONT> Instruction and educational
support expenses decreased $2.2 million, or 1%, to $234.1 million
in 2015 from $236.3 million in 2014. We recorded $0.4 million and
$4.1 million in adjustments in 2015 and 2014, respectively,
resulting from changes in the timing and expected income from
settlements and executed sublease agreements signed during the
period, and may record additional adjustments in the future.
Instruction and educational support expenses as a percentage of
revenues increased to 53.9% for 2015 from 53.0% in 2014.</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
48</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Marketing
expenses.</FONT> Marketing expenses increased $3.6 million, or 5%,
to $70.1 million in 2015 from $66.5 million in 2014. Marketing
expenses as a percentage of revenues increased to 16.1% in 2015
from 14.9% in 2014. We expect to continue to invest in our
marketing efforts such that marketing expenses may increase in
absolute terms and as a percentage of revenue in 2016 as compared
to 2015.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Admissions advisory
expenses</FONT>. Admissions advisory expenses decreased by $0.4
million, or 2%, to $16.3 million in 2015 from $16.7 million in
2014, primarily as a result of lower personnel costs. Admissions
advisory expenses as a percentage of revenues increased to 3.8% for
2015 from 3.7% in 2014.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">General and
administration expenses.</FONT> General and administration expenses
decreased $0.5 million, or 1%, to $44.3 million in 2015 from $44.8
million in 2014. General and administration expenses as a
percentage of revenues increased to 10.2% for 2015 from 10.1% in
2014.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Income from
operations.</FONT> Income from operations decreased $12.0 million,
or 15%, to $69.7 million in 2015 from $81.7 million in 2014.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Interest
expense.</FONT> Interest expense decreased to $3.9 million in 2015
from $5.2 million in 2014 following the repayment in July 2015 of
all our outstanding debt in connection with our amended credit
facility. We have $150.0 million available under our revolving
credit facility and no balance outstanding as of December 31, 2015.
We expect interest expense to be in the range of $0.7-0.8 million
in 2016 following the repayment of all our outstanding debt in
2015.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Provision for income
taxes.</FONT> Income tax expense decreased $4.2 million, or 14%, to
$26.1 million in 2015 from $30.3 million in 2014, primarily due to
the decrease in income before income taxes attributable to the
factors discussed above. Our effective tax rate was 39.5% for 2015
and 2014. We expect our tax rate for 2016 to be in the range of
39.0-39.5%.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Net income.</FONT>
Net income decreased $6.4 million to $40.0 million in 2015 from
$46.4 million in 2014 due to the factors discussed above.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Year Ended December 31,
2014 Compared To Year Ended December 31, 2013</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Enrollment.</FONT>
Average enrollment decreased 8% to 40,254 students for the year
ended December 31, 2014 from 43,969 students for the same period in
2013.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;"><FONT STYLE=
"letter-spacing: -.1pt;">Revenues.</FONT></FONT> <FONT STYLE=
"letter-spacing: -.1pt;">Revenues decreased 11% to $446.0 million
in 2014 from $503.6 million in 2013, principally due to an average
enrollment decline of 8% and a decline in revenue per student of
3%. The decline in revenue per student is largely attributable to a
new pricing structure which reduced tuition for new undergraduate
students by approximately 20%, and made them eligible for our
Graduation Fund. Revenues for undergraduate students declined 17%
in 2014, driven by a decrease in enrollment of 10% and a decline of
8% in revenue per student, resulting mostly from the new pricing
structure for new undergraduate students. For graduate students,
revenues increased 1% in 2014, driven by an increase in revenue per
student of 7%, offset by a decline in enrollment of 6%. The
increase in graduate revenue per student was due primarily to lower
scholarships compared to the same period in 2013.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Instruction and
educational support expenses.</FONT> Instruction and educational
support expenses decreased $74.1 million, or 24%, to $236.3 million
in 2014 from $310.4 million in 2013, primarily due to lower
personnel and facility costs following the restructuring in the
fourth quarter of 2013, when we incurred a charge of $36.2 million
for lease abandonments, asset write-offs, and severance charges.
The decrease in Instruction and educational support expenses is
also partly attributable to lower average enrollment in 2014. We
also recorded $4.1 million in adjustments in 2014 resulting from
changes in the timing and expected income from settlements and
executed sublease agreements signed during the period, and may
record additional adjustments in the future. Instruction and
educational support expenses as a percentage of revenues decreased
to 53.0% for 2014 from 61.7% in 2013.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Marketing
expenses.</FONT> Marketing expenses decreased $8.9 million, or 12%,
to $66.5 million in 2014 from $75.4 million in 2013. Marketing
expenses as a percentage of revenues decreased slightly to 14.9% in
2014 from 15.0% in 2013.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Admissions advisory
expenses</FONT>. Admissions advisory expenses decreased by $3.7
million, or 18%, to $16.7 million in 2014 from $20.4 million in
2013, primarily as a result of lower personnel costs following the
restructuring in the fourth quarter of 2013. Admissions advisory
expenses as a percentage of revenues decreased to 3.7% for 2014
from 4.0% in 2013.</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
49</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">General and
administration expenses.</FONT> General and administration expenses
decreased $19.8 million, or 31%, to $44.8 million in 2014 from
$64.6 million in 2013 primarily due to lower personnel and facility
costs following the restructuring in the fourth quarter of 2013,
when we incurred a charge of $18.2 million for lease abandonments,
asset write-offs, and severance charges. General and administration
expenses as a percentage of revenues decreased to 10.1% for 2014
from 12.8% in 2013.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Income from
operations.</FONT> Income from operations increased $49.0 million,
or 150%, to $81.7 million in 2014 from $32.7 million in 2013.
Although we had $57.6 million less revenue in 2014 compared to
2013, our operating expenses were significantly lower following the
restructuring in the fourth quarter of 2013, when we incurred a
charge of $54.7 million, as discussed above.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Interest
expense.</FONT> Interest expense decreased slightly to $5.2 million
in 2014 from $5.4 million in 2013, primarily due to lower average
debt outstanding in 2014.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Provision for income
taxes.</FONT> Income tax expense increased $19.4 million, or 179%,
to $30.3 million in 2014 from $10.9 million in 2013, primarily due
to the increase in income before income taxes attributable to the
factors discussed above. Our effective tax rate was 39.5% for 2014
compared to 39.8% for 2013, reflecting the recognition of certain
state tax benefits in 2014.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Net income.</FONT>
Net income increased $30.0 million to $46.4 million in 2014 from
$16.4 million in 2013 due to the factors discussed above.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Seasonality</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Our quarterly results of operations tend to vary significantly
within a year because of student enrollment patterns. Enrollment is
generally lowest in the third quarter, or summer term. The
following table sets forth our enrollment by term for 2013, 2014
and 2015:</P>
<P CLASS="H1" STYLE=
"margin-bottom: 10.0pt; mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Enrollment by
Term</FONT></P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="408" VALIGN="bottom" STYLE=
"width: 4.25in; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCHleft" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH_left; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">Term</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">2013</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">2014</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">2015</FONT></FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="408" VALIGN="bottom" STYLE=
"width: 4.25in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Winter</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
47,926</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
41,098</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
40,728</P>
</TD>
</TR>
<TR>
<TD WIDTH="408" VALIGN="bottom" STYLE=
"width: 4.25in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Spring</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
46,130</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
41,327</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
40,875</P>
</TD>
</TR>
<TR>
<TD WIDTH="408" VALIGN="bottom" STYLE=
"width: 4.25in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Summer</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
38,627</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
36,403</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
37,221</P>
</TD>
</TR>
<TR>
<TD WIDTH="408" VALIGN="bottom" STYLE=
"width: 4.25in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Fall</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
43,192</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
42,189</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
42,975</P>
</TD>
</TR>
<TR>
<TD WIDTH="408" VALIGN="bottom" STYLE=
"width: 4.25in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Average</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
43,969</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
40,254</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
40,450</P>
</TD>
</TR>
</TABLE>
<P CLASS="Textind" STYLE=
"margin-top: 10.0pt; mso-style-name: Text_ind; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The following table sets forth our revenues on a quarterly basis
for the years ended December 31, 2013, 2014 and 2015:</P>
<P CLASS="H1" STYLE=
"margin-bottom: 10.0pt; mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Quarterly Revenues<BR>
(dollars in thousands)</FONT></P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="192" VALIGN="bottom" STYLE=
"width: 2.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="149" COLSPAN="7" VALIGN="bottom" STYLE=
"width: 112.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">2013</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="149" COLSPAN="7" VALIGN="bottom" STYLE=
"width: 112.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">2014</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="149" COLSPAN="7" VALIGN="bottom" STYLE=
"width: 112.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">2015</FONT></FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="192" VALIGN="bottom" STYLE=
"width: 2.0in; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCHleft" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH_left; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG="EN-GB">Three
Months Ended</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">Amount</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" COLSPAN="2" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">Percent</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">Amount</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" COLSPAN="2" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">Percent</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">Amount</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" COLSPAN="2" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">Percent</FONT></FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="192" VALIGN="bottom" STYLE=
"width: 2.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
March 31</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
137,506</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="40" VALIGN="bottom" STYLE=
"width: 30.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
27</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
116,468</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="40" VALIGN="bottom" STYLE=
"width: 30.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
26</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
111,885</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="40" VALIGN="bottom" STYLE=
"width: 30.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
26</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
</TR>
<TR>
<TD WIDTH="192" VALIGN="bottom" STYLE=
"width: 2.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
June 30</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
131,980</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="40" VALIGN="bottom" STYLE=
"width: 30.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
26</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
112,747</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="40" VALIGN="bottom" STYLE=
"width: 30.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
25</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
109,750</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="40" VALIGN="bottom" STYLE=
"width: 30.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
25</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="192" VALIGN="bottom" STYLE=
"width: 2.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
September 30</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
110,031</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="40" VALIGN="bottom" STYLE=
"width: 30.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
22</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
100,756</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="40" VALIGN="bottom" STYLE=
"width: 30.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
23</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
99,142</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
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</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="40" VALIGN="bottom" STYLE=
"width: 30.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
23</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="192" VALIGN="bottom" STYLE=
"width: 2.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
December 31</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
124,083</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="40" VALIGN="bottom" STYLE=
"width: 30.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
25</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
116,070</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="40" VALIGN="bottom" STYLE=
"width: 30.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
26</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
113,660</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="40" VALIGN="bottom" STYLE=
"width: 30.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
26</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="192" VALIGN="bottom" STYLE=
"width: 2.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Total for year</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
503,600</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="40" VALIGN="bottom" STYLE=
"width: 30.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
100</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
446,041</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="40" VALIGN="bottom" STYLE=
"width: 30.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
100</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
434,437</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="40" VALIGN="bottom" STYLE=
"width: 30.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
100</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
</TR>
</TABLE>
<P CLASS="Textind" STYLE=
"margin-top: 10.0pt; mso-style-name: Text_ind; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Costs generally are not affected by the seasonal factors as much as
enrollment and revenue, and excluding one-time items, do not vary
significantly on a quarterly basis.</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
50</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Liquidity and Capital
Resources</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
At December 31, 2015, we had cash and cash equivalents of $106.9
million compared to $162.3 million at December 31, 2014. At
December 31, 2015, most of our cash was invested in bank overnight
deposits.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT STYLE="letter-spacing: -.05pt;">On July 2, 2015, we used
approximately $116 million of our existing cash and cash
equivalents to prepay our term loan and terminate an interest rate
swap as part of an amendment to our credit and term loan agreement.
We also paid approximately $0.9 million in transaction fees in
connection with the amendment. The amended credit agreement
provides for a $150 million revolving credit facility and an option
to establish incremental term loans under certain conditions. The
amended credit agreement has a maturity date of July 2, 2020. We
had no borrowings outstanding under the revolving credit facility
after prepayment of the term loan facility, and as of December 31,
2015.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Borrowings under the revolving credit facility bear interest at
LIBOR or a base rate, plus a margin ranging from 1.75% to 2.25%
(compared to 2.00% to 2.50% under the prior credit facility),
depending on our leverage ratio. An unused commitment fee ranging
from 0.25% to 0.35% (compared to 0.30% to 0.40% under the prior
credit facility), depending on our leverage ratio, accrues on
unused amounts under the revolving credit facility. During the
years ended December 31, 2014 and 2015, we paid cash interest of
$4.4 million and $2.4 million, respectively.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The amended credit agreement is guaranteed by Strayer University
and is secured by substantially all of the personal property and
assets of the Company and the guarantor. The amended credit
agreement contains customary covenants, representations,
warranties, events of default and remedies upon default. In
addition, we must satisfy certain financial maintenance covenants,
including a total leverage ratio, a coverage ratio and a U.S.
Department of Education financial responsibility composite score.
We were in compliance with all applicable covenants related to the
amended credit agreement as of December 31, 2015.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Our net cash from operating activities decreased in 2015 to $76.9
million, as compared to $77.6 million for the same period in 2014.
The decrease in net cash from operating activities was largely the
result of the change in income from operations from $81.7 million
in 2014 to $69.7 million in 2015, offset by changes in working
capital. Capital expenditures were $12.7 million for the year ended
December 31, 2015, compared to $6.9 million for the same period in
2014. Capital expenditures for the year ending December 31, 2016
are expected to be in the range of 3-4% of revenue.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
For the year ended December 31, 2015, we did not repurchase any
shares of common stock and, at December 31, 2015, had $70 million
in repurchase authorization to use through December 31, 2016. We
did not pay a regular quarterly dividend in either 2014 or
2015.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT STYLE="letter-spacing: -.15pt;">In 2015, bad debt expense as
a percentage of revenue was 3.0% compared to 3.8% for 2014. Days
sales outstanding was 17 days at the end of the fourth quarter of
2015 compared to 15 days at the end of the fourth quarter of
2014.</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
In January 2016, we completed the acquisition of New York Code and
Design Academy, which provides non-degree courses in web and
application software development, primarily at its campus in New
York City. We paid $7.0 million up front and may pay up to an
additional $18.0 million to the sellers based on the achievement of
certain performance objectives, including NYCDA&#8217;s future
revenue and operating results at the end of five years. The
acquisition was funded through our existing cash and cash
equivalents.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We have available $150 million under our revolving credit facility.
We believe that existing cash and cash equivalents, cash generated
from operating activities, and if necessary, cash borrowed under
the credit facility, will be sufficient to meet our requirements
for at least the next 12 months. Currently, we maintain our cash in
mostly FDIC-insured bank accounts. Excess cash is invested in money
market funds, which is included in cash and cash equivalents at
December 31, 2013, 2014 and 2015. We earned interest income of
$2,000, $0.1 million and $0.3 million in each of the years ended
December 31, 2013, 2014 and 2015, respectively.</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
51</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Contractual
Obligations</FONT></P>
<P CLASS="Textind" STYLE=
"margin-bottom: 10.0pt; mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The table below sets forth our contractual commitments associated
with operating leases, excluding subleases as of December 31,
2015:</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="146" VALIGN="bottom" STYLE=
"width: 109.2pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="549" COLSPAN="22" VALIGN="bottom" STYLE=
"width: 412.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Payments Due By Period (in thousands)</P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="146" VALIGN="bottom" STYLE=
"width: 109.2pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="80" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 60.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Total</P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="80" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 60.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT LANG="EN-GB">Less than<BR>
1 Year</FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="80" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 60.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
1-3 Years</P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="80" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 60.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
3-5 Years</P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="80" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 60.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT LANG="EN-GB">More than<BR>
5 Years</FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="146" VALIGN="bottom" STYLE=
"width: 109.2pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Operating leases</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="72" VALIGN="bottom" STYLE=
"width: .75in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
167,064</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="72" VALIGN="bottom" STYLE=
"width: .75in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
37,240</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="72" VALIGN="bottom" STYLE=
"width: .75in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-right: 0in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
62,083</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="72" VALIGN="bottom" STYLE=
"width: .75in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
"margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
41,601</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="72" VALIGN="bottom" STYLE=
"width: .75in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
"margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
26,140</P>
</TD>
</TR>
<TR HEIGHT="0">
<TD WIDTH="146" STYLE="border: none; padding: 0pt;">
</TD>
<TD WIDTH="11" STYLE="border: none; padding: 0pt;"></TD>
<TD WIDTH="16" STYLE="border: none; padding: 0pt;"></TD>
<TD WIDTH="11" STYLE="border: none; padding: 0pt;"></TD>
<TD WIDTH="8" STYLE="border: none; padding: 0pt;"></TD>
<TD WIDTH="72" STYLE="border: none; padding: 0pt;"></TD>
<TD WIDTH="11" STYLE="border: none; padding: 0pt;"></TD>
<TD WIDTH="16" STYLE="border: none; padding: 0pt;"></TD>
<TD WIDTH="11" STYLE="border: none; padding: 0pt;"></TD>
<TD WIDTH="8" STYLE="border: none; padding: 0pt;"></TD>
<TD WIDTH="72" STYLE="border: none; padding: 0pt;"></TD>
<TD WIDTH="11" STYLE="border: none; padding: 0pt;"></TD>
<TD WIDTH="16" STYLE="border: none; padding: 0pt;"></TD>
<TD WIDTH="11" STYLE="border: none; padding: 0pt;"></TD>
<TD WIDTH="8" STYLE="border: none; padding: 0pt;"></TD>
<TD WIDTH="72" STYLE="border: none; padding: 0pt;"></TD>
<TD WIDTH="11" STYLE="border: none; padding: 0pt;"></TD>
<TD WIDTH="16" STYLE="border: none; padding: 0pt;"></TD>
<TD WIDTH="11" STYLE="border: none; padding: 0pt;"></TD>
<TD WIDTH="8" STYLE="border: none; padding: 0pt;"></TD>
<TD WIDTH="72" STYLE="border: none; padding: 0pt;"></TD>
<TD WIDTH="11" STYLE="border: none; padding: 0pt;"></TD>
<TD WIDTH="16" STYLE="border: none; padding: 0pt;"></TD>
<TD WIDTH="11" STYLE="border: none; padding: 0pt;"></TD>
<TD WIDTH="8" STYLE="border: none; padding: 0pt;"></TD>
<TD WIDTH="72" STYLE="border: none; padding: 0pt;"></TD>
</TR>
</TABLE>
<P CLASS="H2" STYLE=
"margin-top: 10.0pt; mso-style-name: H2; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Impact of
Inflation</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Inflation has not had a significant impact on our historical
operations.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Off-Balance Sheet
Arrangements</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
As of December 31, 2015, we do not have any off-balance sheet
arrangements as defined by Item 303(a)(4) of the Securities
Exchange Commission Regulation S-K.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Item
7A.</FONT><FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;</FONT> Quantitative and
Qualitative Disclosures about Market Risk</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We are subject to the impact of interest rate changes and may be
subject to changes in the market values of our future investments.
We invest our excess cash in bank overnight deposits, money market
funds and marketable securities. We have not used derivative
financial instruments in our investment portfolio. Earnings from
investments in bank overnight deposits, money market mutual funds,
and marketable securities may be adversely affected in the future
should interest rates decline, although such a decline may reduce
the interest rate payable on any borrowings under our revolving
credit facility. Our future investment income may fall short of
expectations due to changes in interest rates or we may suffer
losses in principal if forced to sell securities that have declined
in market value due to changes in interest rates. As of December
31, 2015, a 1% increase or decrease in interest rates would not
have a material impact on our future earnings, fair values, or cash
flows related to investments in cash equivalents or interest
earning marketable securities.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Changing interest rates could also have a negative impact on the
amount of interest expense we incur. On July 2, 2015, we used
approximately $116 million of our existing cash and cash
equivalents to prepay our term loan and terminate an interest rate
swap as part of an amendment to our credit and term loan agreement.
The amended credit agreement provides for a $150 million revolving
credit facility and an option to establish incremental term loans
under certain conditions. The amended credit agreement has a
maturity date of July 2, 2020. We had no borrowings outstanding
under the revolving credit facility after prepayment of the term
loan facility, and as of December 31, 2015. Borrowings under the
revolving credit facility bear interest at LIBOR or a base rate,
plus a margin ranging from 1.75% to 2.25%, depending on our
leverage ratio. An unused commitment fee ranging from 0.25% to
0.35%, depending on our leverage ratio, accrues on unused amounts
under the revolving credit facility. An increase in LIBOR would
affect interest expense on any outstanding balance of the revolving
credit facility. For every 100 basis points increase in LIBOR, we
would incur an incremental $1.5 million in interest expense per
year assuming the entire $150 million revolving credit facility
were utilized.</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
52</P>
</DIV>
<DIV CLASS="WordSection1" STYLE=
"width: 600px; margin: 0 auto; page: WordSection1;">
<P CLASS="H2" STYLE=
"margin-left: 48.0pt; text-indent: -48.0pt; mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Item
8.</FONT><FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
Financial Statements and Supplementary Data</FONT></P>
<P CLASS="H1" STYLE=
"margin-bottom: 10.0pt; mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">INDEX TO CONSOLIDATED
FINANCIAL STATEMENTS</FONT></P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="576" VALIGN="bottom" STYLE=
"width: 6.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Page</P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="576" VALIGN="bottom" STYLE=
"width: 6.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Strayer Education, Inc.</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="576" VALIGN="bottom" STYLE=
"width: 6.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Report of Independent Registered Public
Accounting Firm</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" ALIGN="center" STYLE=
"text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
54</P>
</TD>
</TR>
<TR>
<TD WIDTH="576" VALIGN="bottom" STYLE=
"width: 6.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Consolidated Balance Sheets as of December 31,
2014 and 2015</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" ALIGN="center" STYLE=
"text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
55</P>
</TD>
</TR>
<TR>
<TD WIDTH="576" VALIGN="bottom" STYLE=
"width: 6.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Consolidated Statements of Income for each of
the three years in the period ended December 31, 2015</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" ALIGN="center" STYLE=
"text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
56</P>
</TD>
</TR>
<TR>
<TD WIDTH="576" VALIGN="bottom" STYLE=
"width: 6.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Consolidated Statements of Comprehensive Income
for each of the three years in the period ended December 31,
2015</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" ALIGN="center" STYLE=
"text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
56</P>
</TD>
</TR>
<TR>
<TD WIDTH="576" VALIGN="bottom" STYLE=
"width: 6.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Consolidated Statements of Stockholders&rsquo;
Equity for each of the three years in the period ended<BR>
December 31, 2015</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" ALIGN="center" STYLE=
"text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
57</P>
</TD>
</TR>
<TR>
<TD WIDTH="576" VALIGN="bottom" STYLE=
"width: 6.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Consolidated Statements of Cash Flows for each
of the three years in the period ended<BR>
December 31, 2015</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" ALIGN="center" STYLE=
"text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
58</P>
</TD>
</TR>
<TR>
<TD WIDTH="576" VALIGN="bottom" STYLE=
"width: 6.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Notes to Consolidated Financial
Statements</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" ALIGN="center" STYLE=
"text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
59</P>
</TD>
</TR>
</TABLE>
<P CLASS="Textind" STYLE=
"margin-top: 10.0pt; mso-style-name: Text_ind; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
All other schedules are omitted because they are not applicable or
the required information is included in the consolidated financial
statements or notes thereto.</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
53</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Report of Independent
Registered Public Accounting Firm</FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
To Board of Directors and Stockholders</P>
<P CLASS="Textflush" STYLE=
"margin-top: 0in; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Strayer Education, Inc.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
In our opinion, the consolidated financial statements listed in the
accompanying index present fairly, in all material respects, the
financial position of Strayer Education, Inc. and its subsidiaries
(the &ldquo;Company&rdquo;) at December 31, 2015 and 2014, and the
results of their operations and their cash flows for each of the
three years in the period ended December 31, 2015 in conformity
with accounting principles generally accepted in the United States
of America. Also in our opinion, the Company maintained, in all
material respects, effective internal control over financial
reporting as of December 31, 2015, based on criteria established in
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Internal Control
&mdash; Integrated Framework (2013)</FONT> issued by the Committee
of Sponsoring Organizations of the Treadway Commission (COSO). The
Company&rsquo;s management is responsible for these financial
statements, for maintaining effective internal control over
financial reporting, and for its assessment of the effectiveness of
internal control over financial reporting, included in
Management&rsquo;s Report on Internal Control Over Financial
Reporting appearing under Item 9A. Our responsibility is to express
opinions on these financial statements and on the Company&rsquo;s
internal control over financial reporting based on our integrated
audits. We conducted our audits in accordance with the standards of
the Public Company Accounting Oversight Board (United States).
Those standards require that we plan and perform the audits to
obtain reasonable assurance about whether the financial statements
are free of material misstatement and whether effective internal
control over financial reporting was maintained in all material
respects. Our audits of the financial statements included
examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements, assessing the accounting
principles used and significant estimates made by management, and
evaluating the overall financial statement presentation. Our audit
of internal control over financial reporting included obtaining an
understanding of internal control over financial reporting,
assessing the risk that a material weakness exists, and testing and
evaluating the design and operating effectiveness of internal
control based on the assessed risk. Our audits also included
performing such other procedures as we considered necessary in the
circumstances. We believe that our audits provide a reasonable
basis for our opinions.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
A company&rsquo;s internal control over financial reporting is a
process designed to provide reasonable assurance regarding the
reliability of financial reporting and the preparation of financial
statements for external purposes in accordance with generally
accepted accounting principles. A company&rsquo;s internal control
over financial reporting includes those policies and procedures
that (i) pertain to the maintenance of records that, in reasonable
detail, accurately and fairly reflect the transactions and
dispositions of the assets of the company; (ii) provide reasonable
assurance that transactions are recorded as necessary to permit
preparation of financial statements in accordance with generally
accepted accounting principles, and that receipts and expenditures
of the company are being made only in accordance with
authorizations of management and directors of the company; and
(iii) provide reasonable assurance regarding prevention or timely
detection of unauthorized acquisition, use, or disposition of the
company&rsquo;s assets that could have a material effect on the
financial statements.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Because of its inherent limitations, internal control over
financial reporting may not prevent or detect misstatements. Also,
projections of any evaluation of effectiveness to future periods
are subject to the risk that controls may become inadequate because
of changes in conditions, or that the degree of compliance with the
policies or procedures may deteriorate.</P>
<P CLASS="Textind" STYLE=
"text-indent: 0in; mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
/s/ PricewaterhouseCoopers LLP</P>
<P CLASS="Textind" STYLE=
"margin-top: 0in; text-indent: 0in; mso-style-name: Text_ind; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
McLean, Virginia</P>
<P CLASS="Textind" STYLE=
"margin-top: 0in; text-indent: 0in; mso-style-name: Text_ind; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
February 19, 2016</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
54</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">STRAYER EDUCATION,
INC.</FONT></P>
<P CLASS="H1" STYLE=
"margin-top: 0in; mso-style-name: H1; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">CONSOLIDATED BALANCE
SHEETS</FONT></P>
<P CLASS="H1" STYLE=
"margin-top: 0in; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; mso-style-name: H1; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">(in thousands, except
share and per share data)</FONT></P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="165" COLSPAN="7" VALIGN="bottom" STYLE=
"width: 124.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">December 31,</FONT></FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">2014</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">2015</FONT></FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" ALIGN="center" STYLE=
"text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">ASSETS</FONT></FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Current assets:</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Cash and cash equivalents</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
162,283</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
106,889</P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Tuition receivable, net</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
16,942</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
18,519</P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Other current assets</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
17,426</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
13,390</P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind2" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_2"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 30.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Total current assets</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
196,651</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
138,798</P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Property and equipment, net</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
82,266</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
77,139</P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Deferred income taxes</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
16,241</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
20,003</P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Goodwill</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
6,800</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
6,800</P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Other assets</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
5,857</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
5,694</P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind2" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_2"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 30.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Total assets</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
307,815</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
248,434</P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
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<FONT STYLE=
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<FONT STYLE=
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<FONT STYLE=
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<FONT STYLE=
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<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
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<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
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</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" ALIGN="center" STYLE=
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<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">LIABILITIES &amp; STOCKHOLDERS&rsquo;
EQUITY</FONT></FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Current liabilities:</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Accounts payable and accrued expenses</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
43,836</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
42,253</P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Income taxes payable</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
1,286</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2,684</P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Deferred revenue</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
4,682</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
12,373</P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Other current liabilities</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
281</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
281</P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Current portion of debt</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
6,250</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind2" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_2"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 30.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Total current liabilities</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
56,335</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
57,591</P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Long term debt</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
112,500</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Other long-term liabilities</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
46,248</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
47,987</P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind2" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_2"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 30.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Total liabilities</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
215,083</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
105,578</P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Commitments and contingencies</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Stockholders&rsquo; equity:</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">Common stock, par value $0.01; 20,000,000 shares
authorized; 10,903,341 and 11,027,177 shares issued and outstanding
at December 31, 2014 and 2015,<BR>
respectively</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
109</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
110</P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Additional paid-in capital</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
14,550</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
24,738</P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Retained earnings</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
77,985</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
118,008</P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">Accumulated other comprehensive
income</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
88</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind2" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_2"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 30.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Total stockholders&rsquo; equity</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
92,732</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
142,856</P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind2" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_2"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 30.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">Total liabilities and stockholders&rsquo;
equity</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
307,815</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
248,434</P>
</TD>
</TR>
</TABLE>
<P CLASS="Textflush" ALIGN="center" STYLE=
"margin-top: 10.0pt; text-align: center; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The accompanying notes are an integral part of these consolidated
financial statements.</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
55</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">STRAYER EDUCATION,
INC.</FONT></P>
<P CLASS="H1" STYLE=
"margin-top: 0in; mso-style-name: H1; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">CONSOLIDATED STATEMENTS
OF INCOME</FONT></P>
<P CLASS="H1" STYLE=
"margin-top: 0in; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; mso-style-name: H1; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">(in thousands, except
per share data)</FONT></P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="267" COLSPAN="12" VALIGN="bottom" STYLE=
"width: 200.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG="EN-GB">For
the Year Ended<BR>
December 31,</FONT></FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">2013</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">2014</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">2015</FONT></FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Revenues</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
503,600</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
446,041</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
434,437</P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Costs and expenses:</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; border: none; border-top: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; border: none; border-top: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; border: none; border-top: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Instruction and educational support</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
310,446</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
236,303</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
234,097</P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Marketing</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
75,426</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
66,495</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
70,084</P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Admissions advisory</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
20,390</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
16,661</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
16,304</P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
General and administration</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
64,637</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
44,835</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
44,254</P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Total costs and expenses</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
470,899</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
364,294</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
364,739</P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Income from operations</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
32,701</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
81,747</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
69,698</P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Investment income</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
117</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
283</P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Interest expense</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
5,419</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
5,248</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
3,850</P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Income before income taxes</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
27,284</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
76,616</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
66,131</P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Provision for income taxes</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10,859</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
30,260</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
26,108</P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Net income</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
16,425</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
46,356</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
40,023</P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Earnings per share:</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Basic</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
1.55</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
4.39</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
3.78</P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Diluted</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
1.55</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
4.35</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
3.73</P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Weighted average shares outstanding:</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Basic</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10,584</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10,561</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10,588</P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Diluted</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10,624</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10,650</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10,740</P>
</TD>
</TR>
</TABLE>
<P CLASS="H1" STYLE=
"margin-top: 10.0pt; mso-style-name: H1; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">STRAYER EDUCATION,
INC.</FONT></P>
<P CLASS="H1" STYLE=
"margin-top: 0in; mso-style-name: H1; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">CONSOLIDATED STATEMENTS
OF COMPREHENSIVE INCOME</FONT></P>
<P CLASS="H1" STYLE=
"margin-top: 0in; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; mso-style-name: H1; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">(in
thousands)</FONT></P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="24" VALIGN="bottom" STYLE=
"width: .25in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="259" COLSPAN="13" VALIGN="bottom" STYLE=
"width: 194.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG="EN-GB">For
the Year Ended<BR>
December 31,</FONT></FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="24" VALIGN="bottom" STYLE=
"width: .25in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">2013</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="24" VALIGN="bottom" STYLE=
"width: .25in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">2014</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="24" VALIGN="bottom" STYLE=
"width: .25in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" COLSPAN="3" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">2015</FONT></FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Net income</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="24" VALIGN="bottom" STYLE=
"width: .25in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
16,425</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="24" VALIGN="bottom" STYLE=
"width: .25in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
46,356</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="24" VALIGN="bottom" STYLE=
"width: .25in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="40" VALIGN="bottom" STYLE=
"width: 30.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
40,023</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Other comprehensive income:</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="24" VALIGN="bottom" STYLE=
"width: .25in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="24" VALIGN="bottom" STYLE=
"width: .25in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="24" VALIGN="bottom" STYLE=
"width: .25in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="40" VALIGN="bottom" STYLE=
"width: 30.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">Change in fair value of derivative instrument,
net of income tax</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="24" VALIGN="bottom" STYLE=
"width: .25in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
764</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="24" VALIGN="bottom" STYLE=
"width: .25in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
60</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="24" VALIGN="bottom" STYLE=
"width: .25in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&nbsp;</P>
</TD>
<TD WIDTH="40" VALIGN="bottom" STYLE=
"width: 30.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(88</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" ALIGN="left" STYLE=
'text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
)</P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Comprehensive income</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="24" VALIGN="bottom" STYLE=
"width: .25in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
17,189</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="24" VALIGN="bottom" STYLE=
"width: .25in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
46,416</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="24" VALIGN="bottom" STYLE=
"width: .25in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="40" VALIGN="bottom" STYLE=
"width: 30.0pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
39,935</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
</TABLE>
<P CLASS="Textflush" ALIGN="center" STYLE=
"margin-top: 10.0pt; text-align: center; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The accompanying notes are an integral part of these consolidated
financial statements.</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
56</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">STRAYER EDUCATION,
INC.</FONT></P>
<P CLASS="H1" STYLE=
"margin-top: 0in; mso-style-name: H1; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
CONSOLIDATED <FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">STATEMENTS OF
STOCKHOLDERS&rsquo; EQUITY</FONT></P>
<P CLASS="H1" STYLE=
"margin-top: 0in; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; mso-style-name: H1; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">(in thousands, except
share data)</FONT></P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" WIDTH="100%" STYLE=
"width: 100.0%; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="23%" VALIGN="bottom" STYLE=
"width: 23.76%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="21%" COLSPAN="8" VALIGN="bottom" STYLE=
"width: 21.58%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">Common Stock</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="8%" COLSPAN="3" VALIGN="bottom" STYLE=
"width: 8.4%; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; padding: 0in; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">Additional Paid-in</FONT></FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="8%" COLSPAN="3" VALIGN="bottom" STYLE=
"width: 8.78%; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; padding: 0in; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">Retained</FONT></FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="11%" COLSPAN="3" VALIGN="bottom" STYLE=
"width: 11.34%; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; padding: 0in; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">Accumulated Other Comprehensive</FONT></FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="8%" COLSPAN="3" VALIGN="bottom" STYLE=
"width: 8.6%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="23%" VALIGN="bottom" STYLE=
"width: 23.76%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="9%" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 9.88%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">Shares</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" COLSPAN="3" VALIGN="bottom" STYLE=
"width: 7.68%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG="EN-GB">Par
Value</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="8%" COLSPAN="3" VALIGN="bottom" STYLE=
"width: 8.4%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">Capital</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="8%" COLSPAN="3" VALIGN="bottom" STYLE=
"width: 8.78%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">Earnings</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="11%" COLSPAN="3" VALIGN="bottom" STYLE=
"width: 11.34%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">Income (Loss)</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="8%" COLSPAN="3" VALIGN="bottom" STYLE=
"width: 8.6%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">Total</FONT></FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="23%" VALIGN="bottom" STYLE=
"width: 23.76%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB" STYLE=
"font-size: 9.0pt; letter-spacing: -.05pt;">Balance, December 31,
2012</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="8%" VALIGN="bottom" STYLE=
"width: 8.78%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
11,387,299</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="5%" VALIGN="bottom" STYLE=
"width: 5.48%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE="font: 10pt/normal TimesNewRomanPSStd-Regular; text-align: right; margin: 0in; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-bottom: 0pt; text-autospace: none; color: black">
&nbsp;114</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.22%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
299</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
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41,311</P>
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&nbsp;(736</P>
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40,988</P>
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<FONT LANG="EN-GB" STYLE="font-size: 9.0pt;">Tax shortfall
associated with stock-based compensation arrangements</FONT></P>
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<FONT LANG="EN-GB" STYLE="font-size: 9.0pt;">Repurchase of common
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(495,085</P>
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(23,242</P>
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&nbsp;</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.14%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
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(24,999</P>
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<FONT LANG="EN-GB" STYLE="font-size: 9.0pt;">Restricted stock
forfeitures and cancellations, net of grants</FONT></P>
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(94,750</P>
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(1</P>
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<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
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<FONT STYLE=
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<FONT STYLE=
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<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
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&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
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<P CLASS="Tbodyrightalign" STYLE=
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&mdash;</P>
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<TD WIDTH="1%" VALIGN="bottom" STYLE=
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&nbsp;</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
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&mdash;</P>
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&nbsp;</P>
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<TD WIDTH="6%" VALIGN="bottom" STYLE=
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<TD WIDTH="1%" VALIGN="bottom" STYLE=
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<TR>
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<FONT LANG="EN-GB" STYLE="font-size: 9.0pt;">Stock-based
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</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
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&nbsp;</P>
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&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.4%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
9,291</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="23%" VALIGN="bottom" STYLE=
"width: 23.76%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB" STYLE="font-size: 9.0pt;">Change in fair value
of derivative instrument, net of income tax</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="8%" VALIGN="bottom" STYLE=
"width: 8.78%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="5%" VALIGN="bottom" STYLE=
"width: 5.48%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.22%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.58%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.14%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
764</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.4%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
764</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="23%" VALIGN="bottom" STYLE=
"width: 23.76%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Net income</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="8%" VALIGN="bottom" STYLE=
"width: 8.78%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="5%" VALIGN="bottom" STYLE=
"width: 5.48%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.22%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.58%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
16,425</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.14%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.4%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
16,425</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="23%" VALIGN="bottom" STYLE=
"width: 23.76%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB" STYLE=
"font-size: 9.0pt; letter-spacing: -.05pt;">Balance, December 31,
2013</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="8%" VALIGN="bottom" STYLE=
"width: 8.78%; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10,797,464</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="5%" VALIGN="bottom" STYLE=
"width: 5.48%; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
108</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.22%; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
7,137</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.58%; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
31,629</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.14%; border: none; padding: 0in 0in 0in 0in;">
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28</P>
</TD>
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<FONT STYLE=
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&nbsp;</FONT></P>
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<FONT STYLE=
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&nbsp;</P>
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<TD WIDTH="6%" VALIGN="bottom" STYLE=
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38,902</P>
</TD>
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<FONT LANG="EN-GB" STYLE="font-size: 9.0pt;">Tax shortfall
associated with stock-based compensation arrangements</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
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&mdash;</P>
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&nbsp;</P>
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&mdash;</P>
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(2,039</P>
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&nbsp;</P>
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&mdash;</P>
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&nbsp;</P>
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&mdash;</P>
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<FONT LANG="EN-GB" STYLE="font-size: 9.0pt;">Restricted stock
grants,<BR>
net of forfeitures</FONT></P>
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105,877</P>
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1</P>
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(1</P>
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&nbsp;</P>
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&nbsp;</P>
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<TD WIDTH="9%" VALIGN="bottom" STYLE=
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"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
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<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.4%; padding: 0in 0in 0in 0in;">
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</TD>
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"width: 1.1%; padding: 0in 0in 0in 0in;">
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'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
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<FONT LANG="EN-GB" STYLE=
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</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
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</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.14%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.4%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
9,453</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="23%" VALIGN="bottom" STYLE=
"width: 23.76%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB" STYLE="font-size: 9.0pt;">Change in fair value
of derivative instrument,<BR>
net of income tax</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="8%" VALIGN="bottom" STYLE=
"width: 8.78%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="5%" VALIGN="bottom" STYLE=
"width: 5.48%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.22%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.58%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.14%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
60</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.4%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
60</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="23%" VALIGN="bottom" STYLE=
"width: 23.76%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Net income</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="8%" VALIGN="bottom" STYLE=
"width: 8.78%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="5%" VALIGN="bottom" STYLE=
"width: 5.48%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.22%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.58%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
46,356</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.14%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.4%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
46,356</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="23%" VALIGN="bottom" STYLE=
"width: 23.76%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB" STYLE=
"font-size: 9.0pt; letter-spacing: -.05pt;">Balance, December 31,
2014</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="8%" VALIGN="bottom" STYLE=
"width: 8.78%; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10,903,341</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="5%" VALIGN="bottom" STYLE=
"width: 5.48%; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
109</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.22%; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
14,550</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.58%; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
77,985</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
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"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
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"width: 1.1%; padding: 0in 0in 0in 0in;">
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'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
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<FONT STYLE=
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&nbsp;</FONT></P>
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"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.14%; border: none; padding: 0in 0in 0in 0in;">
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"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
88</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
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'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
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"width: 1.46%; padding: 0in 0in 0in 0in;">
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'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
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&nbsp;</FONT></P>
</TD>
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"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
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&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.4%; border: none; padding: 0in 0in 0in 0in;">
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"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
92,732</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
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<TR>
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"width: 23.76%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB" STYLE="font-size: 9.0pt;">Tax shortfall
associated with stock-based compensation arrangements</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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</TD>
<TD WIDTH="8%" VALIGN="bottom" STYLE=
"width: 8.78%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
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"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
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&nbsp;</P>
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<TD WIDTH="5%" VALIGN="bottom" STYLE=
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(24</P>
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</TD>
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"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.4%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(24</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
</TR>
<TR>
<TD WIDTH="23%" VALIGN="bottom" STYLE=
"width: 23.76%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB" STYLE="font-size: 9.0pt;">Restricted stock
grants, net of forfeitures</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="8%" VALIGN="bottom" STYLE=
"width: 8.78%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
123,836</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="5%" VALIGN="bottom" STYLE=
"width: 5.48%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
1</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.22%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(1</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.58%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.14%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.4%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="23%" VALIGN="bottom" STYLE=
"width: 23.76%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB" STYLE="font-size: 9.0pt;">Stock-based
compensation</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="8%" VALIGN="bottom" STYLE=
"width: 8.78%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="5%" VALIGN="bottom" STYLE=
"width: 5.48%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
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</TD>
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&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
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10,213</P>
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<FONT STYLE=
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<FONT STYLE=
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&nbsp;</P>
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&mdash;</P>
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10,213</P>
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<FONT LANG="EN-GB" STYLE="font-size: 9.0pt;">Change in fair value
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</TD>
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"width: 1.46%; padding: 0in 0in 0in 0in;">
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&mdash;</P>
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</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.4%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(88</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
</TR>
<TR>
<TD WIDTH="23%" VALIGN="bottom" STYLE=
"width: 23.76%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Net income</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="8%" VALIGN="bottom" STYLE=
"width: 8.78%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="5%" VALIGN="bottom" STYLE=
"width: 5.48%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.22%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.58%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
40,023</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.14%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.4%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
40,023</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="23%" VALIGN="bottom" STYLE=
"width: 23.76%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB" STYLE=
"font-size: 9.0pt; letter-spacing: -.05pt;">Balance, December 31,
2015</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="8%" VALIGN="bottom" STYLE=
"width: 8.78%; border: none; border-bottom: double windowtext 2.25pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
11,027,177</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; border: none; border-bottom: double windowtext 2.25pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="5%" VALIGN="bottom" STYLE=
"width: 5.48%; border: none; border-bottom: double windowtext 2.25pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
110</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; border: none; border-bottom: double windowtext 2.25pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.22%; border: none; border-bottom: double windowtext 2.25pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
24,738</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; border: none; border-bottom: double windowtext 2.25pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.58%; border: none; border-bottom: double windowtext 2.25pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
118,008</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; border: none; border-bottom: double windowtext 2.25pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.14%; border: none; border-bottom: double windowtext 2.25pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="center" STYLE=
"margin-left: 12.0pt; text-align: center; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; border: none; border-bottom: double windowtext 2.25pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.4%; border: none; border-bottom: double windowtext 2.25pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
142,856</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.1%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-size: 9.0pt; font-family: TimesNewRomanPSStd-Bold; color: windowtext;">
&nbsp;</FONT></P>
</TD>
</TR>
</TABLE>
<P CLASS="Textflush" ALIGN="center" STYLE=
"margin-top: 10.0pt; text-align: center; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The accompanying notes are an integral part of these consolidated
financial statements.</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
57</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">STRAYER EDUCATION,
INC.</FONT></P>
<P CLASS="H1" STYLE=
"margin-top: 0in; mso-style-name: H1; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">CONSOLIDATED STATEMENTS
OF CASH FLOWS</FONT></P>
<P CLASS="H1" STYLE=
"margin-top: 0in; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; mso-style-name: H1; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">(in
thousands)</FONT></P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" WIDTH="672" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="267" COLSPAN="15" VALIGN="bottom" STYLE=
"width: 200.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG="EN-GB">For
the Year Ended December 31,</FONT></FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="3" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">2013</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="3" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">2014</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="3" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">2015</FONT></FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Cash flows from operating activities:</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Net income</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
16,425</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
46,356</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
40,023</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">Adjustments to reconcile net income to net cash
provided by operating activities:</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind2" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_2"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 30.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">Amortization of gain on sale of
assets</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(281</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(280</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(280</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind2" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_2"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 30.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Amortization of deferred rent</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(462</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(1,092</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(345</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind2" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_2"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 30.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">Amortization of deferred financing
costs</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
780</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
780</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
1,229</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind2" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_2"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 30.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Depreciation and amortization</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
35,563</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
20,630</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
18,104</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind2" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_2"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 30.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Deferred income taxes</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(23,435</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(1,036</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(4,006</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind2" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_2"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 30.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Stock-based compensation</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
9,291</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
9,453</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10,213</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind2" STYLE=
'margin-left: 30.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_2"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Changes in assets and liabilities:</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind2" STYLE=
'margin-left: 40.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_2"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Tuition receivable, net</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
4,024</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
685</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(1,991</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind2" STYLE=
'margin-left: 40.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_2"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Other current assets</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2,434</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(2,862</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
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'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
4,005</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind2" STYLE=
'margin-left: 40.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_2"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Other assets</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
494</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
219</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
22</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: white; padding: 0in 0in 0in 0in;">
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'margin-left: 40.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_2"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Accounts payable and accrued expenses</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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</TD>
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"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
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<FONT STYLE=
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</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
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&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(116</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
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"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
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<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
6,550</P>
</TD>
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"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
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<FONT STYLE=
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"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
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<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
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'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
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</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(752</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind2" STYLE=
'margin-left: 40.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_2"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">Income taxes payable and income taxes
receivable</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
7,799</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
737</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
1,835</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind2" STYLE=
'margin-left: 40.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_2"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Deferred revenue</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2,059</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
11,783</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
12,465</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind2" STYLE=
'margin-left: 40.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_2"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Other long-term liabilities</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
29,518</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(14,373</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" ALIGN="left" STYLE=
'text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(3,624</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" ALIGN="left" STYLE=
'text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
)</P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind3" STYLE=
'margin-left: 50.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_3"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">Net cash provided by operating
activities</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
84,093</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
77,550</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
76,898</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Cash flows from investing activities:</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Purchases of property and equipment</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(8,726</P>
</TD>
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<P CLASS="Tbodyrule1brack" ALIGN="left" STYLE=
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)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
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</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
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</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
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&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
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(6,902</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" ALIGN="left" STYLE=
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)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
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&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
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(12,692</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" ALIGN="left" STYLE=
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)</P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind3" STYLE=
'margin-left: 50.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_3"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Net cash used in investing activities</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
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(8,726</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" ALIGN="left" STYLE=
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)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(6,902</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" ALIGN="left" STYLE=
'text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(12,692</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" ALIGN="left" STYLE=
'text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
)</P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Cash flows from financing activities:</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
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<FONT STYLE=
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</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
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Payments on term loan</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
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<FONT STYLE=
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&nbsp;</P>
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(3,125</P>
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"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
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)</P>
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"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
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<FONT STYLE=
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<TD WIDTH="16" VALIGN="bottom" STYLE=
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&nbsp;</P>
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(3,125</P>
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)</P>
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<FONT STYLE=
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</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
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&nbsp;</P>
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"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
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(118,750</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" ALIGN="left" STYLE=
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)</P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
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Payment of deferred financing costs</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
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<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
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<FONT STYLE=
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</TD>
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"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
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&nbsp;</P>
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"width: .5in; background: white; padding: 0in 0in 0in 0in;">
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&mdash;</P>
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"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
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<FONT STYLE=
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"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
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<FONT STYLE=
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<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
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<FONT STYLE=
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"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
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<FONT STYLE=
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<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
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&nbsp;</P>
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<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
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&mdash;</P>
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<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
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"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
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"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
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&nbsp;</P>
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"width: .5in; background: white; padding: 0in 0in 0in 0in;">
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(850</P>
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"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
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)</P>
</TD>
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<TR>
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"width: 4.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
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Repurchase of common stock</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
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<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
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&nbsp;</P>
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(24,999</P>
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"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
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)</P>
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"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
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"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
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"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
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"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
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&nbsp;</P>
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&mdash;</P>
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</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind3" STYLE=
'margin-left: 50.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_3"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Net cash used in financing activities</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(28,124</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" ALIGN="left" STYLE=
'text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(3,125</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" ALIGN="left" STYLE=
'text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(119,600</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" ALIGN="left" STYLE=
'text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
)</P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind3" STYLE=
'margin-left: 50.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_3"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">Net increase (decrease) in cash and cash
equivalents</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
47,243</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
67,523</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(55,394</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Cash and cash equivalents &mdash; beginning of
year</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
47,517</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
94,760</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
162,283</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Cash and cash equivalents &mdash; end of
year</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
94,760</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
162,283</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
106,889</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Non-cash transactions:</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="384" VALIGN="bottom" STYLE=
"width: 4.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB" STYLE="letter-spacing: -.05pt;">Purchases of
property and equipment included in accounts payable</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
47</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
412</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
365</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
</TABLE>
<P CLASS="Textflush" ALIGN="center" STYLE=
"margin-top: 10.0pt; text-align: center; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The accompanying notes are an integral part of these consolidated
financial statements.</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
58</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">STRAYER EDUCATION,
INC.</FONT></P>
<P CLASS="H1" STYLE=
"margin-top: 0in; mso-style-name: H1; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">NOTES TO CONSOLIDATED
FINANCIAL STATEMENTS</FONT></P>
<P CLASS="H2note" STYLE=
"mso-style-name: H2_note; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">1.</FONT><FONT CLASS=
"Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
Nature of Operations</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Strayer Education, Inc. (the &ldquo;Company&rdquo;), a Maryland
corporation, conducts its operations through its wholly owned
subsidiaries, Strayer University (the &ldquo;University&rdquo;) and
New York Code and Design Academy (&ldquo;NYCDA&rdquo;). The
University is an accredited institution of higher education that
provides undergraduate and graduate degrees in various fields of
study through physical campuses, predominantly located in the
eastern United States, and online. With the Company&rsquo;s focus
on the student, regardless of whether he or she chooses to take
classes at a physical campus or online, it has only one reporting
segment.</P>
<P CLASS="H2note" STYLE=
"mso-style-name: H2_note; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">2.</FONT><FONT CLASS=
"Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
Significant Accounting Policies</FONT></P>
<P CLASS="H4" STYLE=
"mso-style-name: H4; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Financial Statement
Presentation</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The consolidated financial statements include the accounts of the
Company and its wholly-owned subsidiary, the University. On January
13, 2016, the Company acquired all of the outstanding stock of
NYCDA, and the results of NYCDA will be included with the Company
from the acquisition date. All intercompany accounts and
transactions have been eliminated in the consolidated financial
statements.</P>
<P CLASS="H4" STYLE=
"mso-style-name: H4; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Revenue
Recognition</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The Company&rsquo;s educational programs are offered on a quarterly
basis and such periods coincide with the Company&rsquo;s quarterly
financial reporting periods. Approximately 96% of the
Company&rsquo;s revenues during the year ended December 31, 2015
consisted of tuition revenue, which is recognized in the quarter of
instruction. Tuition revenue is assessed for collectibility on a
student-by-student basis throughout the quarter of instruction, and
is shown net of any refunds, withdrawals, corporate discounts,
scholarships and employee tuition discounts. This collectibility
assessment considers available sources of funds for the student
including Federal Financial Student Aid programs. The Company
reassesses the collectibility of tuition revenue that it may earn
based on new information and changes in the facts and circumstances
relevant to a student&rsquo;s ability to pay, including the timing
of a student&rsquo;s withdrawal from a program of study.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
At the start of each academic term, a liability (deferred revenue)
is recorded for academic services to be provided and a tuition
receivable is recorded for the portion of the tuition not paid in
advance. Any cash received prior to the start of an academic term
is recorded as deferred revenue. Some students may be eligible for
scholarship awards, the estimated value of which will be realized
in the future and is deducted from revenue when earned, based on
historical student attendance and completion behavior. Deferred
revenue is recorded as a current or long-term liability in the
consolidated balance sheets based on when the benefit is expected
to be realized. Revenues also include textbook-related income,
certificate revenue, certain academic fees, licensing revenue, and
other income, which are recognized when earned.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The Company&rsquo;s refund policy typically permits students who
complete less than half of a course to receive a partial refund of
tuition for that course. Refunds reduce the tuition revenue that
would have otherwise been recognized for that student. Since the
Company&rsquo;s academic terms coincide with its financial
reporting periods, nearly all refunds are processed and recorded
within the same quarter as the corresponding revenue. The amount of
tuition revenue refundable to students may vary based on the
student&rsquo;s state of residence. Unused books and related
academic materials may be returned for a full refund within 21 days
of the start of class; however, purchases of electronic content are
not refundable if downloaded. Revenues derived from fees are not
eligible for a refund.</P>
<P CLASS="H4" STYLE=
"mso-style-name: H4; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Graduation
Fund</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
In the third quarter of 2013, the Company introduced the Graduation
Fund, which allows new undergraduate students to earn tuition
credits that are redeemable in the final year of a student&rsquo;s
course of study if he or she successfully remains in the program.
New students registering in credit-bearing courses in any
undergraduate program for the summer 2013 term (fiscal third
quarter) and subsequent terms qualify for the Graduation Fund.
Students must meet all of the University&rsquo;s admission
requirements, and must be enrolled in an undergraduate degree
program. The Company&rsquo;s employees and their dependents are not
eligible for the program. Students who have more than one
consecutive term of non-attendance lose any Graduation Fund credits
earned to date, but may</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
59</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">STRAYER EDUCATION,
INC.</FONT></P>
<P CLASS="H1" STYLE=
"margin-top: 0in; mso-style-name: H1; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">NOTES TO CONSOLIDATED
FINANCIAL STATEMENTS</FONT></P>
<P CLASS="Textind" STYLE=
"text-indent: 0in; mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
earn and accumulate new credits if the student is reinstated or
readmitted by the University in the future. In their final academic
year, qualifying students will receive one free course for every
three courses that were successfully completed.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Revenue from students participating in the Graduation Fund is
recorded in accordance with the Revenue Recognition Topic, ASC
605-50. The Company defers the value of benefits estimated to be
redeemed in the future based on the underlying revenue transactions
that result in progress by the student toward earning the benefit.
The Company&rsquo;s estimate of the benefits that will be redeemed
in the future is based on its historical experience of student
persistence toward completion of a course of study within this
program and similar programs. Each quarter, the Company assesses
its methodologies and assumptions underlying these estimates and,
to date, any adjustments to the estimates have not been material.
The amount estimated to be redeemed in the next twelve months is
$10.0 million and is included in deferred revenue as a current
liability in the consolidated balance sheets.</P>
<P CLASS="Textind" STYLE=
"margin-bottom: 10.0pt; mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The table below presents activity in the Graduation Fund for the
years ended December 31, 2014 and 2015 (in thousands):</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="472" VALIGN="bottom" STYLE=
"width: 354.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="20" VALIGN="bottom" STYLE=
"width: 15.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" COLSPAN="3" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
2014</P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="20" VALIGN="bottom" STYLE=
"width: 15.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" COLSPAN="3" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
2015</P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="472" VALIGN="bottom" STYLE=
"width: 354.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Balance at beginning of year</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="20" VALIGN="bottom" STYLE=
"width: 15.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="40" VALIGN="bottom" STYLE=
"width: 30.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
1,898</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="20" VALIGN="bottom" STYLE=
"width: 15.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="40" VALIGN="bottom" STYLE=
"width: 30.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
9,706</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="472" VALIGN="bottom" STYLE=
"width: 354.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Revenue deferred</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="20" VALIGN="bottom" STYLE=
"width: 15.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="40" VALIGN="bottom" STYLE=
"width: 30.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
8,507</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="20" VALIGN="bottom" STYLE=
"width: 15.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="40" VALIGN="bottom" STYLE=
"width: 30.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
17,882</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="472" VALIGN="bottom" STYLE=
"width: 354.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Benefit redeemed</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="20" VALIGN="bottom" STYLE=
"width: 15.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&nbsp;</P>
</TD>
<TD WIDTH="40" VALIGN="bottom" STYLE=
"width: 30.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(699</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" ALIGN="left" STYLE=
'text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="20" VALIGN="bottom" STYLE=
"width: 15.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&nbsp;</P>
</TD>
<TD WIDTH="40" VALIGN="bottom" STYLE=
"width: 30.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(6,651</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" ALIGN="left" STYLE=
'text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
)</P>
</TD>
</TR>
<TR>
<TD WIDTH="472" VALIGN="bottom" STYLE=
"width: 354.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Balance at end of year</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="20" VALIGN="bottom" STYLE=
"width: 15.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="40" VALIGN="bottom" STYLE=
"width: 30.0pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
9,706</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="20" VALIGN="bottom" STYLE=
"width: 15.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="40" VALIGN="bottom" STYLE=
"width: 30.0pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
20,937</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
</TABLE>
<P CLASS="H4" STYLE=
"margin-top: 10.0pt; mso-style-name: H4; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Cash and Cash
Equivalents</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Cash and cash equivalents consist of cash maintained in mostly
FDIC-insured bank accounts and cash invested in bank overnight
deposits and money market mutual funds. The Company places its cash
and temporary cash investments with various financial institutions.
The Company considers all highly liquid instruments purchased with
a maturity of three months or less at the date of purchase to be
cash equivalents.</P>
<P CLASS="H4" STYLE=
"mso-style-name: H4; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Concentration of
Credit Risk</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The Company places its cash and temporary cash investments in bank
overnight deposits and money market mutual funds with various
financial institutions. Cash and cash equivalent balances are in
excess of the FDIC insurance limit. The Company has not experienced
any losses on its cash and cash equivalents.</P>
<P CLASS="H4" STYLE=
"mso-style-name: H4; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Restricted
Cash</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
A significant portion of the Company&rsquo;s revenues are funded by
various federal and state government programs. The Company
generally does not receive funds from these programs prior to the
start of the corresponding academic term. The Company may be
required to return certain funds for students who withdraw from the
University during the academic term. There were no amounts payable
for these obligations at December 31, 2015. At December 31, 2014,
the Company had approximately $0.2 million of these unpaid
obligations, which are recorded as restricted cash and included in
other current assets in the consolidated balance sheet.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
As part of commencing operations in Pennsylvania in 2003, the
Company was required to maintain a &ldquo;minimum protective
endowment&rdquo; of at least $0.5 million in an interest-bearing
account. These funds are required as long as the Company operates
its campuses in the state. The Company holds these funds in an
interest-bearing account which is included in other assets.</P>
<P CLASS="H4" STYLE=
"mso-style-name: H4; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Tuition Receivable
and Allowance for Doubtful Accounts</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT STYLE="letter-spacing: -.1pt;">The Company records tuition
receivable and deferred revenue for its students upon the start of
the academic term. Therefore, at the end of the quarter (and
academic term), tuition receivable represents amounts due from
students for educational services already provided and deferred
revenue represents advance payments from students for academic
services to be provided in the future. Tuition receivables are not
collateralized; however, credit risk is minimized as a result of
the diverse nature of the University&rsquo;s student base. An
allowance for doubtful accounts is established primarily based upon
historical collection rates by age of receivable, net of estimated
recoveries. These collection rates</FONT></P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
60</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">STRAYER EDUCATION,
INC.</FONT></P>
<P CLASS="H1" STYLE=
"margin-top: 0in; mso-style-name: H1; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">NOTES TO CONSOLIDATED
FINANCIAL STATEMENTS</FONT></P>
<P CLASS="Textind" STYLE=
"text-indent: 0in; mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT STYLE="letter-spacing: -.1pt;">incorporate historical
performance based on a student&rsquo;s current enrollment status
and likelihood of future enrollment. The Company periodically
assesses its methodologies for estimating bad debts in
consideration of actual experience.</FONT></P>
<P CLASS="Textind" STYLE=
"margin-bottom: 10.0pt; mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The Company&rsquo;s tuition receivable and allowance for doubtful
accounts were as follows as of December 31, 2014 and 2015 (in
thousands):</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" WIDTH="632" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="459" VALIGN="bottom" STYLE=
"width: 344.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="TCHleft" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 0pt; mso-style-name: TCH_left; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; padding: 0in; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
&nbsp;</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="59" COLSPAN="3" VALIGN="bottom" STYLE=
"width: 44.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">2014</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="24" VALIGN="bottom" STYLE=
"width: .25in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="59" COLSPAN="3" VALIGN="bottom" STYLE=
"width: 44.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">2015</FONT></FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="459" VALIGN="bottom" STYLE=
"width: 344.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Tuition receivable</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="43" VALIGN="bottom" STYLE=
"width: 32.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
25,777</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="24" VALIGN="bottom" STYLE=
"width: .25in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="43" VALIGN="bottom" STYLE=
"width: 32.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
28,543</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="459" VALIGN="bottom" STYLE=
"width: 344.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Allowance for doubtful accounts</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&nbsp;</P>
</TD>
<TD WIDTH="43" VALIGN="bottom" STYLE=
"width: 32.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(8,835</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" ALIGN="left" STYLE=
'text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="24" VALIGN="bottom" STYLE=
"width: .25in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&nbsp;</P>
</TD>
<TD WIDTH="43" VALIGN="bottom" STYLE=
"width: 32.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(10,024</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" ALIGN="left" STYLE=
'text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
)</P>
</TD>
</TR>
<TR>
<TD WIDTH="459" VALIGN="bottom" STYLE=
"width: 344.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Tuition receivable, net</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="43" VALIGN="bottom" STYLE=
"width: 32.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
16,942</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="24" VALIGN="bottom" STYLE=
"width: .25in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="43" VALIGN="bottom" STYLE=
"width: 32.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
18,519</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
</TABLE>
<P CLASS="Textind" STYLE=
"margin-top: 10.0pt; mso-style-name: Text_ind; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Approximately $1.6 million and $2.0 million of tuition receivable
is included in other assets as of December 31, 2014 and 2015,
respectively, because these amounts are expected to be collected
after 12 months.</P>
<P CLASS="Textind" STYLE=
"margin-bottom: 10.0pt; mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The following table illustrates changes in the Company&rsquo;s
allowance for doubtful accounts for each of the three years ended
December 31, 2015 (in thousands):</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" WIDTH="100%" STYLE=
"width: 100.0%; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="57%" VALIGN="bottom" STYLE=
"width: 57.8%; padding: 0in 0in 0in 0in;">
<P CLASS="TCHleft" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 0pt; mso-style-name: TCH_left; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; padding: 0in; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
&nbsp;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.62%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="9%" COLSPAN="3" VALIGN="bottom" STYLE=
"width: 9.34%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
2013</P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.62%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="3%" VALIGN="bottom" STYLE=
"width: 3.04%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.62%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="9%" COLSPAN="3" VALIGN="bottom" STYLE=
"width: 9.34%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
2014</P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.62%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="3%" VALIGN="bottom" STYLE=
"width: 3.04%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.62%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="9%" COLSPAN="3" VALIGN="bottom" STYLE=
"width: 9.34%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
2015</P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="57%" VALIGN="bottom" STYLE=
"width: 57.8%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Beginning allowance for doubtful
accounts</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.62%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.9%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
6,596</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.62%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="3%" VALIGN="bottom" STYLE=
"width: 3.04%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.62%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.9%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10,303</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.62%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="3%" VALIGN="bottom" STYLE=
"width: 3.04%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.62%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.9%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
8,835</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="57%" VALIGN="bottom" STYLE=
"width: 57.8%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Additions charged to expense</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.62%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.9%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
22,225</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.62%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="3%" VALIGN="bottom" STYLE=
"width: 3.04%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.62%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.9%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
16,947</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.62%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="3%" VALIGN="bottom" STYLE=
"width: 3.04%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.62%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.9%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
13,067</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="57%" VALIGN="bottom" STYLE=
"width: 57.8%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Write-offs, net of recoveries</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.62%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.9%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(18,518</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" ALIGN="left" STYLE=
'text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
)</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.62%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="3%" VALIGN="bottom" STYLE=
"width: 3.04%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.62%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.9%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(18,415</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" ALIGN="left" STYLE=
'text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
)</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.62%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="3%" VALIGN="bottom" STYLE=
"width: 3.04%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.62%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.9%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(11,878</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" ALIGN="left" STYLE=
'text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
)</P>
</TD>
</TR>
<TR>
<TD WIDTH="57%" VALIGN="bottom" STYLE=
"width: 57.8%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">Ending allowance for doubtful
accounts</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.62%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; border: none; border-bottom: double windowtext 2.25pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.9%; border: none; border-bottom: double windowtext 2.25pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10,303</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.62%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="3%" VALIGN="bottom" STYLE=
"width: 3.04%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.62%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; border: none; border-bottom: double windowtext 2.25pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.9%; border: none; border-bottom: double windowtext 2.25pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
8,835</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.62%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="3%" VALIGN="bottom" STYLE=
"width: 3.04%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.62%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; border: none; border-bottom: double windowtext 2.25pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.9%; border: none; border-bottom: double windowtext 2.25pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10,024</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
</TABLE>
<P CLASS="H4" STYLE=
"margin-top: 10.0pt; mso-style-name: H4; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Property and
Equipment</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Property and equipment are stated at cost less accumulated
depreciation and amortization. In accordance with the Property,
Plant and Equipment Topic, ASC 360, the carrying values of the
Company&rsquo;s assets are re-evaluated when events or changes in
circumstances indicate that the carrying amount of an asset may not
be recoverable. If it is determined that an impairment loss has
occurred based on expected undiscounted future cash flows, then a
loss is recognized using a fair value-based model. Through 2015, no
such impairment loss had occurred. Depreciation and amortization of
property and equipment is calculated using the straight-line method
over the estimated useful lives ranging from 3 to 40 years.
Depreciation and amortization amounted to $35.6 million, $20.6 million and
$18.1 million for the years ended December 31, 2013, 2014, and
2015, respectively.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Construction in progress includes costs of computer software
developed for internal use, which is accounted for in accordance
with the Internal-Use Software Topic, ASC 350-40. Computer software
development costs that are incurred in the preliminary project
stage are expensed as incurred. During the development stage,
direct consulting costs, payroll, and payroll-related costs for
employees that are directly associated with the project are
capitalized and will be amortized over the estimated useful life of
the software once placed into operation. Purchases of property and
equipment and changes in accounts payable for each of the three
years in the period ended December 31, 2015 in the Consolidated
Statements of Cash Flows have been adjusted to exclude non-cash
purchases of property and equipment transactions during that
period.</P>
<P CLASS="H4" STYLE=
"mso-style-name: H4; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Fair Value</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The Fair Value Measurement Topic, ASC 820-10 (&ldquo;ASC
820-10&rdquo;), establishes a framework for measuring fair value,
establishes a fair value hierarchy based upon the observability of
inputs used to measure fair value, and expands disclosures about
fair value measurements. Assets and liabilities are classified in
their entirety within the fair value hierarchy based on the lowest
level input that is significant to the fair value measurement.
Under ASC 820-10, fair value of an investment is the price that
would be received to sell an asset or to transfer a liability to an
entity in an orderly transaction between market participants at the
measurement date. The hierarchy gives the highest priority to
assets and liabilities with readily available quoted prices in an
active market and lowest priority to unobservable inputs which
require a higher degree of judgment when measuring fair value, as
follows:</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 13.0pt;">
&bull;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
Level 1 assets or liabilities use quoted prices in active markets
for identical assets or liabilities as of the measurement date;</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
61</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">STRAYER EDUCATION,
INC.</FONT></P>
<P CLASS="H1" STYLE=
"margin-top: 0in; mso-style-name: H1; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">NOTES TO CONSOLIDATED
FINANCIAL STATEMENTS</FONT></P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 13.0pt;">
&bull;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
Level 2 assets or liabilities use observable inputs, other than
quoted market prices, that are either directly or indirectly
observable in the marketplace for identical or similar assets and
liabilities; and</P>
<P CLASS="BLm" STYLE=
"margin-top: 7.0pt; mso-style-name: BL_m; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 13.0pt;">
&bull;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
Level 3 assets or liabilities use unobservable inputs that are
supported by little or no market activity.</P>
<P CLASS="Textind" STYLE=
"margin-top: 7.0pt; mso-style-name: Text_ind; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The Company&rsquo;s assets and liabilities that are subject to fair
value measurement are categorized in one of the three levels above.
Fair values are based on the inputs available at the measurement
dates, and may rely on certain assumptions that may affect the
valuation of fair value for certain assets or liabilities.</P>
<P CLASS="H4" STYLE=
"mso-style-name: H4; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Goodwill and
Indefinite-Lived Intangible Assets</FONT></P>
<P CLASS="Textind" STYLE=
"margin-top: 7.0pt; mso-style-name: Text_ind; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Goodwill represents the excess of the purchase price of an acquired
business over the amount assigned to the assets acquired and
liabilities assumed. Indefinite-lived intangible assets, which
include a trade name, are recorded at fair market value on their
acquisition date. An indefinite life was assigned to the trade name
because it has the continued ability to generate cash flows
indefinitely.</P>
<P CLASS="Textind" STYLE=
"margin-top: 7.0pt; mso-style-name: Text_ind; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Goodwill and the indefinite-lived intangible asset are assessed at
least annually for impairment during the three-month period ending
September 30, or more frequently if events occur or circumstances
change between annual tests that would more likely than not reduce
the fair value of the respective reporting unit below its carrying
amount. Under Accounting Standards Update No. 2011-08, <FONT CLASS=
"Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Intangibles-Goodwill
and Other (Topic 350): Testing Goodwill for Impairment</FONT>, the
Company is permitted, but not required, to first assess qualitative
factors to determine whether it is necessary to perform the more
thorough quantitative goodwill impairment test. Following its
qualitative assessment, the Company determined it was not more
likely than not that the fair value of its goodwill was less than
the carrying amount and, accordingly, no impairment existed in
2015.</P>
<P CLASS="H4" STYLE=
"margin-top: 13.0pt; mso-style-name: H4; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Long-Term
Liabilities</FONT></P>
<P CLASS="Textind" STYLE=
"margin-top: 7.0pt; mso-style-name: Text_ind; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Included in the Company&rsquo;s long-term liabilities are amounts
related to the Company&rsquo;s operating leases, deferred payments
related to an acquisition completed in 2011, the fair value of the
Company&rsquo;s interest rate swap, and the non-current portion of
deferred revenue. In conjunction with the opening of some campuses
and other facilities, the Company was reimbursed by the lessors for
improvements made to those leased properties. In accordance with
the Operating Leases Subtopic, ASC 840-20 (&ldquo;ASC
840-20&rdquo;), these underlying assets were capitalized as
leasehold improvements and a liability was established for the
reimbursements. The leasehold improvements and the liability are
amortized on a straight-line basis over the corresponding lease
terms, which generally range from five to ten years. In accordance
with ASC 840-20, the Company records rent expense on a
straight-line basis over the initial term of a lease. The
cumulative difference between the rent payment and the
straight-line rent expense is recorded as a liability. The Company
also records the non-current portion of the gain related to the
sale and lease back of a campus facility as a long-term
liability.</P>
<P CLASS="H4" STYLE=
"mso-style-name: H4; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Accounting for
Derivative Instruments and Hedging Activities</FONT></P>
<P CLASS="Textind" STYLE=
"margin-top: 7.0pt; mso-style-name: Text_ind; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
On the date that the Company enters into a derivative contract, it
designates the derivative as a hedge of (a) a forecasted
transaction or (b) the variability of cash flows that are to be
received or paid in connection with a recognized asset or liability
(a cash flow hedge). All derivatives are recognized in the balance
sheet at their fair value.</P>
<P CLASS="Textind" STYLE=
"margin-top: 7.0pt; mso-style-name: Text_ind; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Changes in the fair value of a derivative that is highly effective
and that is designated and qualifies as a cash flow hedge, to the
extent that the hedge is effective, are recorded, net of income
tax, in other comprehensive income, until earnings are affected by
the variability of cash flows of the hedged transaction (e.g.,
until periodic settlements of a variable-rate asset or liability
are recorded in earnings). Any hedge ineffectiveness (which
represents the amount by which the changes in the fair value of the
derivative exceed the variability in the cash flows of the
forecasted transaction) is recorded in current-period earnings.</P>
<P CLASS="Textind" STYLE=
"margin-top: 7.0pt; mso-style-name: Text_ind; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The Company formally documents all relationships between hedging
instruments and hedged items, as well as its risk-management
objective and strategy for undertaking various hedge transactions.
The Company also formally assesses (both at the hedge&rsquo;s
inception and on an ongoing basis) whether the derivatives that are
used in hedging transactions have been highly effective in
offsetting changes in the fair value or cash flows of hedged items
and</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
62</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">STRAYER EDUCATION,
INC.</FONT></P>
<P CLASS="H1" STYLE=
"margin-top: 0in; mso-style-name: H1; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">NOTES TO CONSOLIDATED
FINANCIAL STATEMENTS</FONT></P>
<P CLASS="Textind" STYLE=
"margin-top: 7.0pt; text-indent: 0in; mso-style-name: Text_ind; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
whether those derivatives may be expected to remain highly
effective in future periods. When it is determined that a
derivative is not (or has ceased to be) highly effective as a
hedge, the Company discontinues hedge accounting prospectively.</P>
<P CLASS="H4" STYLE=
"mso-style-name: H4; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Authorized
Stock</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The Company has authorized 20,000,000 shares of common stock, par
value $.01, of which 10,903,341 and 11,027,177 shares were issued
and outstanding as of December 31, 2014 and 2015, respectively. The
Company also has authorized 8,000,000 shares of preferred stock,
none of which has been issued or outstanding since 2004. Before any
preferred stock may be issued in the future, the Board of Directors
would need to establish the preferences, conversion or other
rights, voting powers, restrictions, limitations as to dividends,
qualifications, and the terms or conditions of the redemption of
the preferred stock.</P>
<P CLASS="H4" STYLE=
"mso-style-name: H4; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Advertising
Costs</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The Company expenses advertising costs in the quarter incurred,
except for costs associated with the production of media
commercials which are expensed when the commercial is first
aired.</P>
<P CLASS="H4" STYLE=
"mso-style-name: H4; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Stock-Based
Compensation</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
As required by the Stock Compensation Topic, ASC 718, the Company
measures and recognizes compensation expense for all share-based
payment awards made to employees and directors, including employee
stock options, restricted stock, restricted stock units, and
employee stock purchases related to the Company&rsquo;s Employee
Stock Purchase Plan, based on estimated fair values. Stock-based
compensation expense recognized in the Consolidated Statements of
Income for each of the three years in the period ended December 31,
2015 is based on awards ultimately expected to vest and, therefore,
has been adjusted for estimated forfeitures. The Company is
required to estimate forfeitures at the time of grant and revise
the estimate, if necessary, in subsequent periods if actual
forfeitures differ from those estimates. The forfeiture rate used
is based on historical experience. The Company also assesses the
likelihood that performance criteria associated with
performance-based awards will be met. If it is determined that it
is more likely than not that performance criteria will not be
achieved, the Company revises its estimate of the number of shares
it believes will ultimately vest.</P>
<P CLASS="H4" STYLE=
"mso-style-name: H4; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Net Income Per
Share</FONT></P>
<P CLASS="Textind" STYLE=
"margin-bottom: 10.0pt; mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Basic earnings per share is computed by dividing net income by the
weighted average number of shares of common stock outstanding
during the periods. Diluted earnings per share reflects the
potential dilution that could occur assuming conversion or exercise
of all dilutive unexercised stock options, restricted stock and
restricted stock units. The dilutive effect of stock awards was
determined using the treasury stock method. Under the treasury
stock method, all of the following are assumed to be used to
repurchase shares of the Company&rsquo;s common stock: (1) the
proceeds received from the exercise of stock options, (2) the
amount of compensation cost associated with the stock awards for
future service not yet recognized by the Company, and (3) the
amount of tax benefits that would be recorded in additional paid-in
capital when the stock awards become deductible for income tax
purposes. Stock options are not included in the computation of
diluted earnings per share when the stock option exercise price of
an individual grant exceeds the average market price for the
period. During the year ended December 31, 2015, the Company had no
issued and outstanding stock options that were excluded from the
calculation. <FONT STYLE="letter-spacing: -.05pt;">Set forth below
is a reconciliation of shares used to calculate basic and diluted
earnings per share for each of the three years ended December 31,
2015 (in thousands):</FONT></P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" WIDTH="100%" STYLE=
"width: 100.0%; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="60%" VALIGN="bottom" STYLE=
"width: 60.62%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.96%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
2013</P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="3%" VALIGN="bottom" STYLE=
"width: 3.68%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.96%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
2014</P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="3%" VALIGN="bottom" STYLE=
"width: 3.68%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.96%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
2015</P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="60%" VALIGN="bottom" STYLE=
"width: 60.62%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Weighted average shares outstanding used to
compute basic earnings per share</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.96%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10,584</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="3%" VALIGN="bottom" STYLE=
"width: 3.68%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.96%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10,561</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="3%" VALIGN="bottom" STYLE=
"width: 3.68%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.96%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10,588</P>
</TD>
</TR>
<TR>
<TD WIDTH="60%" VALIGN="bottom" STYLE=
"width: 60.62%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Incremental shares issuable upon the assumed
exercise of stock<BR>
options</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.96%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="3%" VALIGN="bottom" STYLE=
"width: 3.68%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.96%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
6</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="3%" VALIGN="bottom" STYLE=
"width: 3.68%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.96%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
6</P>
</TD>
</TR>
<TR>
<TD WIDTH="60%" VALIGN="bottom" STYLE=
"width: 60.62%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Unvested restricted stock and restricted stock
units</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.96%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
40</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="3%" VALIGN="bottom" STYLE=
"width: 3.68%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.96%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
83</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="3%" VALIGN="bottom" STYLE=
"width: 3.68%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.96%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
146</P>
</TD>
</TR>
<TR>
<TD WIDTH="60%" VALIGN="bottom" STYLE=
"width: 60.62%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Shares used to compute diluted earnings per
share</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.96%; border: none; border-bottom: double windowtext 2.25pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10,624</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="3%" VALIGN="bottom" STYLE=
"width: 3.68%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.96%; border: none; border-bottom: double windowtext 2.25pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10,650</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="3%" VALIGN="bottom" STYLE=
"width: 3.68%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.96%; border: none; border-bottom: double windowtext 2.25pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10,740</P>
</TD>
</TR>
</TABLE>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
63</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">STRAYER EDUCATION,
INC.</FONT></P>
<P CLASS="H1" STYLE=
"margin-top: 0in; mso-style-name: H1; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">NOTES TO CONSOLIDATED
FINANCIAL STATEMENTS</FONT></P>
<P CLASS="H4" STYLE=
"mso-style-name: H4; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Income
Taxes</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The Company provides for deferred income taxes based on temporary
differences between financial statement and income tax bases of
assets and liabilities using enacted tax rates in effect in the
year in which the differences are expected to reverse.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The Income Taxes Topic, ASC 740, requires the company to determine
whether uncertain tax positions should be recognized within the
Company&rsquo;s financial statements. The Company recognizes
interest and penalties, if any, related to uncertain tax positions
in income tax expense. Uncertain tax positions are recognized when
a tax position, based solely on its technical merits, is determined
to be more likely than not to be sustained upon examination. Upon
determination, uncertain tax positions are measured to determine
the amount of benefit that is greater than 50% likely to be
realized upon ultimate settlement with a taxing authority that has
full knowledge of all relevant information. A tax position is
derecognized if it no longer meets the more likely than not
threshold of being sustained.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The tax years 2012-2015 remain open for Federal tax examination and
the tax years 2011-2015 remain open to examination by state and
local taxing jurisdictions in which the Company is subject.</P>
<P CLASS="H4" STYLE=
"mso-style-name: H4; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Use of
Estimates</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The preparation of financial statements in conformity with
accounting principles generally accepted in the United States of
America requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities at the date
of the financial statements and the reported amounts of expenses
during the period reported. The most significant management
estimates included allowances for doubtful accounts, the useful
lives of property and equipment, fair value of future contractual
operating lease obligations, potential sublease income and vacancy
periods, accrued expenses, forfeiture rates and the likelihood of
achieving performance criteria for stock-based awards, value of
free courses earned by students that will be redeemed in the
future, valuation of goodwill, intangible assets and the interest
rate swap arrangement, and the provision for income taxes. Actual
results could differ from those estimates.</P>
<P CLASS="H4" STYLE=
"mso-style-name: H4; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Comprehensive
Income</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Comprehensive income consists of net income and the change in the
fair value of the Company&rsquo;s interest rate swap, net of income
taxes.</P>
<P CLASS="H4" STYLE=
"mso-style-name: H4; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Recent Accounting
Pronouncements</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
In May 2014, the FASB issued ASU No. 2014-09, &ldquo;Revenue from
Contracts with Customers (Topic 606)&rdquo; (&ldquo;ASU
2014-09&rdquo;). The standard establishes a new recognition model
that requires revenue to be recognized in a manner to depict the
transfer of goods or services to a customer at an amount that
reflects the consideration expected to be received in exchange for
those goods or services. ASU 2014-09 is effective for fiscal years
beginning after December 15, 2017. The Company currently is
evaluating the impact that the standard will have on its financial
condition, results of operations, and disclosures.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
In April 2015, the FASB issued ASU No. 2015-03, &ldquo;Interest -
Imputation of Interest (Subtopic 835-30)&rdquo; (&ldquo;ASU
2015-03&rdquo;). The new guidance requires that debt issuance costs
related to a recognized debt liability be presented in the balance
sheet as a direct deduction from the carrying amount of that debt
liability, consistent with debt discounts. ASU 2015-03 is effective
for financial statements issued for fiscal years beginning after
December 15, 2015. The new guidance will be applied on a
retrospective basis, and early adoption is permitted. The Company
currently is evaluating the impact that the standard will have on
its financial condition, results of operations, and
disclosures.</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
64</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">STRAYER EDUCATION,
INC.</FONT></P>
<P CLASS="H1" STYLE=
"margin-top: 0in; mso-style-name: H1; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">NOTES TO CONSOLIDATED
FINANCIAL STATEMENTS</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
In November 2015, the FASB issued ASU No. 2015-17, &ldquo;Balance
Sheet Classification of Deferred Taxes&rdquo; (&ldquo;ASU
2015-17&rdquo;). The new guidance requires that deferred tax
liabilities and assets be classified as noncurrent in a classified
statement of financial position. The amendments in ASU 2015-17 are
effective for financial statements issued for annual periods
beginning after December 15, 2016, and interim periods within those
annual periods. The Company intends to adopt the standard during
the first quarter of 2016.</P>
<P CLASS="H2note" STYLE=
"mso-style-name: H2_note; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">3.</FONT><FONT CLASS=
"Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
Restructuring and Related Charges</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
In October 2013, the Company implemented a restructuring to better
align the Company&rsquo;s resources with its current student
enrollments. This restructuring included the closing of 20 physical
locations and reductions in the number of campus-based and
corporate employees.</P>
<P CLASS="Textind" STYLE=
"margin-bottom: 10.0pt; mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">T<FONT STYLE="font-family: Times New Roman, Times, Serif">he
following details the changes in the Company&rsquo;s restructuring liability by type of cost during the three years ended December
31, 2015 (in thousands):</FONT></P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" WIDTH="628" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="TCHleft" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 0pt; mso-style-name: TCH_left; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; padding: 0in; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;"></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="3" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT LANG="EN-GB">Lease<BR>
and Related<BR>
Costs, Net</FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="89" COLSPAN="3" VALIGN="bottom" STYLE=
"width: 67.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT LANG="EN-GB">Severance<BR>
and Other<BR>
Employee<BR>
Separation Costs</FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="3" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Total</P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">Balance
at December 31, 2012</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="73" VALIGN="bottom" STYLE=
"width: 55.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 12.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">Restructuring and other charges<FONT CLASS=
"superscript" STYLE=
"font-size: 6pt; mso-style-name: superscript; vertical-align: super;">(1)</FONT></FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
47,792</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 12.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="73" VALIGN="bottom" STYLE=
"width: 55.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 12.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
6,898</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
54,690</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Payments</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(103</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 12.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="73" VALIGN="bottom" STYLE=
"width: 55.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 12.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(6,120</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(6,223</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
</TR>
<TR>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">Adjustments<FONT CLASS="superscript" STYLE=
"font-size: 6pt; mso-style-name: superscript; vertical-align: super;">(2)</FONT></FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'margin-left: 4.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'margin-left: 4.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(5,139</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" ALIGN="left" STYLE=
'text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 12.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="73" VALIGN="bottom" STYLE=
"width: 55.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 12.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
1,438</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'margin-left: 4.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'margin-left: 4.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(3,701</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" ALIGN="left" STYLE=
'text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
)</P>
</TD>
</TR>
<TR>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">Balance
at December 31, 2013<FONT STYLE="font: 6pt TimesNewRomanPSStd-Bold"><SUP>(1)</SUP></FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
42,550</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="73" VALIGN="bottom" STYLE=
"width: 55.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2,216</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
44,766</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Payments</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(12,418</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"margin-left: 12.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="73" VALIGN="bottom" STYLE=
"width: 55.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"margin-left: 12.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(2,138</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(14,556</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
</TR>
<TR>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">Adjustments<FONT CLASS="superscript" STYLE=
"font-size: 6pt; mso-style-name: superscript; vertical-align: super;">(2)</FONT></FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'margin-left: 4.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'margin-left: 4.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(2,849</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" ALIGN="left" STYLE=
'text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 12.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="73" VALIGN="bottom" STYLE=
"width: 55.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 12.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(78</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'margin-left: 4.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'margin-left: 4.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(2,927</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" ALIGN="left" STYLE=
'text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
)</P>
</TD>
</TR>
<TR>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">Balance
at December 31, 2014<FONT STYLE="font: 6pt TimesNewRomanPSStd-Bold"><SUP>(1)</SUP></FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 4.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 4.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
27,283</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 12.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="73" VALIGN="bottom" STYLE=
"width: 55.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 12.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 4.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 4.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
27,283</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Payments</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(7,754</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 12.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="73" VALIGN="bottom" STYLE=
"width: 55.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 12.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(7,754</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
</TR>
<TR>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">Adjustments<FONT CLASS="superscript" STYLE=
"font-size: 6pt; mso-style-name: superscript; vertical-align: super;">(2)</FONT></FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 4.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 4.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
526</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 12.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="73" VALIGN="bottom" STYLE=
"width: 55.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 12.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 4.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 4.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
526</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">Balance
at December 31, 2015<FONT STYLE="font: 6pt TimesNewRomanPSStd-Bold"><SUP>(1)</SUP></FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"margin-left: 4.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
20,055</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="73" VALIGN="bottom" STYLE=
"width: 55.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"margin-left: 12.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"margin-left: 4.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
20,055</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
</TABLE>
<P CLASS="Tablefootnotef" STYLE=
"margin-top: 0in; line-height: normal; border: none; mso-style-name: Tablefootnote_f; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -20.0pt; text-autospace: none; padding: 0in; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
____________</P>
<P CLASS="Tablefootnotef" STYLE=
"margin-top: 0in; line-height: normal; border: none; mso-style-name: Tablefootnote_f; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -20.0pt; text-autospace: none; padding: 0in; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(1)<FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;</FONT> The
current portion of restructuring liabilities was $6.0 million and
$4.8 million as of December 31, 2014 and December 31, 2015,
respectively, which are included in accounts payable and accrued
expenses. The long-term portion is included in other long-term
liabilities.</P>
<P CLASS="Tablefootnotem" STYLE=
"margin-top: 1.0pt; mso-style-name: Tablefootnote_m; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -20.0pt; line-height: 10.0pt; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(2)<FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;</FONT>
Adjustments for lease and related costs include accretion of
interest on lease costs, partially offset by changes in the timing
and expected income from sublease agreements signed during the
period. Adjustments for severance and other employee separation
costs include amounts related to employees who were re-hired to
other roles within the Company and were not paid severance.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Lease and Related Costs, Net</FONT> <FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">&mdash;</FONT> The
Company recorded approximately $36.0 million of aggregate charges
representing the estimated fair value of future contractual
operating lease obligations, which were recorded in the fourth
quarter of 2013, when the Company ceased using the respective
facilities. Lease obligations, some of which continue through 2022,
are measured at fair value using a discounted cash flow approach
encompassing significant unobservable inputs (Level 3). The
estimation of future cash flows includes non-cancelable contractual
lease costs over the remaining terms of the leases discounted at
the Company&rsquo;s marginal borrowing rate of 4.5%, partially
offset by estimated future sublease rental income, which involves
significant judgment. The Company&rsquo;s estimate of the amount
and timing of sublease rental income considers subleases that have
been executed and subleases expected to be executed based on
current commercial real estate market data and conditions, and
other qualitative factors specific to the facilities. The estimates
are subject to adjustment as market conditions change or as new
information becomes available, including the execution of
additional sublease agreements.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Severance and Other Employee Separation Costs</FONT> &mdash; The
Company implemented workforce reductions in order to better align
its human capital resources with the evolving needs of students. A
total of $6.9 million in severance and other employee separation
costs were recorded in the year ended December 31, 2013, all of
which has subsequently been paid.</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
65</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">STRAYER EDUCATION,
INC.</FONT></P>
<P CLASS="H1" STYLE=
"margin-top: 0in; mso-style-name: H1; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">NOTES TO CONSOLIDATED
FINANCIAL STATEMENTS</FONT></P>
<P CLASS="H2note" STYLE=
"margin-top: 11.6pt; mso-style-name: H2_note; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE=
"font-size: 9.5pt;">4.</FONT></FONT><FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE=
"font-size: 9.5pt;">Property and Equipment</FONT></FONT></P>
<P CLASS="Textind" STYLE=
"margin-top: 5.8pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; mso-style-name: Text_ind; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT STYLE="font-size: 9.5pt;">The composition of property and
equipment as of December 31, 2014 and 2015 is as follows (in
thousands):</FONT></P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" WIDTH="624" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="360" VALIGN="bottom" STYLE=
"width: 3.75in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="68" COLSPAN="3" VALIGN="bottom" STYLE=
"width: 51.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
2014</P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="68" COLSPAN="3" VALIGN="bottom" STYLE=
"width: 51.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
2015</P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="96" VALIGN="bottom" STYLE=
"width: 1.0in; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT LANG="EN-GB">Estimated useful<BR>
life (years)</FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="360" VALIGN="bottom" STYLE=
"width: 3.75in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Land</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="52" VALIGN="bottom" STYLE=
"width: 39.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
7,138</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="52" VALIGN="bottom" STYLE=
"width: 39.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
7,138</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="96" VALIGN="bottom" STYLE=
"width: 1.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodycenteralign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_centeralign; margin: 0in; margin-bottom: .0001pt; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
</TR>
<TR>
<TD WIDTH="360" VALIGN="bottom" STYLE=
"width: 3.75in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Buildings and improvements</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="52" VALIGN="bottom" STYLE=
"width: 39.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
18,998</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="52" VALIGN="bottom" STYLE=
"width: 39.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
19,109</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="96" VALIGN="bottom" STYLE=
"width: 1.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodycenteralign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_centeralign; margin: 0in; margin-bottom: .0001pt; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
5&ndash;40</P>
</TD>
</TR>
<TR>
<TD WIDTH="360" VALIGN="bottom" STYLE=
"width: 3.75in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Furniture, equipment, and computer hardware and
software</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="52" VALIGN="bottom" STYLE=
"width: 39.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
153,417</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="52" VALIGN="bottom" STYLE=
"width: 39.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
150,597</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="96" VALIGN="bottom" STYLE=
"width: 1.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodycenteralign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_centeralign; margin: 0in; margin-bottom: .0001pt; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
5&ndash;10</P>
</TD>
</TR>
<TR>
<TD WIDTH="360" VALIGN="bottom" STYLE=
"width: 3.75in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Leasehold improvements</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="52" VALIGN="bottom" STYLE=
"width: 39.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
38,732</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="52" VALIGN="bottom" STYLE=
"width: 39.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
38,639</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="96" VALIGN="bottom" STYLE=
"width: 1.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodycenteralign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_centeralign; margin: 0in; margin-bottom: .0001pt; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
3&ndash;10</P>
</TD>
</TR>
<TR>
<TD WIDTH="360" VALIGN="bottom" STYLE=
"width: 3.75in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Construction in progress</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="52" VALIGN="bottom" STYLE=
"width: 39.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
1,942</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="52" VALIGN="bottom" STYLE=
"width: 39.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
4,251</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="96" VALIGN="bottom" STYLE=
"width: 1.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodycenteralign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_centeralign; margin: 0in; margin-bottom: .0001pt; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
</TR>
<TR>
<TD WIDTH="360" VALIGN="bottom" STYLE=
"width: 3.75in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="52" VALIGN="bottom" STYLE=
"width: 39.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
220,227</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="52" VALIGN="bottom" STYLE=
"width: 39.0pt; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
219,734</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="96" VALIGN="bottom" STYLE=
"width: 1.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="360" VALIGN="bottom" STYLE=
"width: 3.75in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Accumulated depreciation and
amortization</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&nbsp;</P>
</TD>
<TD WIDTH="52" VALIGN="bottom" STYLE=
"width: 39.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(137,961</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" ALIGN="left" STYLE=
'text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&nbsp;</P>
</TD>
<TD WIDTH="52" VALIGN="bottom" STYLE=
"width: 39.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(142,595</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" ALIGN="left" STYLE=
'text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="96" VALIGN="bottom" STYLE=
"width: 1.0in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="360" VALIGN="bottom" STYLE=
"width: 3.75in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="52" VALIGN="bottom" STYLE=
"width: 39.0pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
82,266</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="52" VALIGN="bottom" STYLE=
"width: 39.0pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
77,139</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="96" VALIGN="bottom" STYLE=
"width: 1.0in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
</TABLE>
<P CLASS="Textind" STYLE=
"margin-top: 10.0pt; mso-style-name: Text_ind; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT STYLE="font-size: 9.5pt;">Construction in progress includes
costs associated with the construction and renovation of campuses
and the development of information technology applications. In 2014
and 2015, the Company recorded leasehold improvements of $0.1
million and $2.9 million, respectively, which were reimbursed by
lessors as lease incentives. In 2014 and 2015, the Company wrote
off $13.6 million and $13.3 million, respectively, in fixed assets
that were fully depreciated and no longer in service.</FONT></P>
<P CLASS="H2note" STYLE=
"margin-top: 11.6pt; mso-style-name: H2_note; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE=
"font-size: 9.5pt;">5.</FONT></FONT><FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE=
"font-size: 9.5pt;">Fair Value Measurement</FONT></FONT></P>
<P CLASS="Textind" STYLE=
"margin-top: 5.8pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; mso-style-name: Text_ind; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT STYLE="font-size: 9.5pt;">Assets and liabilities measured at
fair value on a recurring basis consist of the following as of
December 31, 2015 (in thousands):</FONT></P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" WIDTH="100%" STYLE=
"width: 100.0%; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="35%" VALIGN="bottom" STYLE=
"width: 35.74%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="10%" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 10.94%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.34%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="46%" COLSPAN="12" VALIGN="bottom" STYLE=
"width: 46.28%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG="EN-GB">Fair
Value Measurements at Reporting Date Using</FONT></FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="35%" VALIGN="bottom" STYLE=
"width: 35.74%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="10%" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 10.94%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">December 31, 2015</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.34%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="14%" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 14.06%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">Quoted Prices in Active Markets for Identical
Assets/Liabilities (Level 1)</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.34%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="10%" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 10.36%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">Significant<BR>
Other<BR>
Observable<BR>
Inputs<BR>
(Level 2)</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.34%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="10%" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 10.94%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">Significant Unobservable Inputs<BR>
(Level 3)</FONT></FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="35%" VALIGN="bottom" STYLE=
"width: 35.74%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">Assets:</FONT></FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.18%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
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<FONT STYLE=
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</TD>
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<FONT STYLE=
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<TD WIDTH="1%" VALIGN="bottom" STYLE=
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</TD>
<TD WIDTH="12%" VALIGN="bottom" STYLE=
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<FONT STYLE=
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<FONT STYLE=
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<FONT STYLE=
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<FONT STYLE=
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<TD WIDTH="9%" VALIGN="bottom" STYLE=
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<FONT STYLE=
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</TD>
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<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
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</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.34%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
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</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
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<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
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</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.76%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
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</TD>
</TR>
<TR>
<TD WIDTH="35%" VALIGN="bottom" STYLE=
"width: 35.74%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
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Cash equivalents:</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
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<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
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</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
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<FONT STYLE=
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</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
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</TD>
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</TD>
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<FONT STYLE=
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</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.18%; padding: 0in 0in 0in 0in;">
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<FONT STYLE=
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</TD>
<TD WIDTH="12%" VALIGN="bottom" STYLE=
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<FONT STYLE=
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<TD WIDTH="1%" VALIGN="bottom" STYLE=
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<TD WIDTH="9%" VALIGN="bottom" STYLE=
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<TD WIDTH="1%" VALIGN="bottom" STYLE=
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<P CLASS="NoParagraphStyle" STYLE=
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</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.76%; padding: 0in 0in 0in 0in;">
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</TD>
</TR>
<TR>
<TD WIDTH="35%" VALIGN="bottom" STYLE=
"width: 35.74%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
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Money market funds</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<TD WIDTH="1%" VALIGN="bottom" STYLE=
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$</P>
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100</P>
</TD>
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"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
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</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.34%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
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</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
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<P CLASS="NoParagraphStyle" STYLE=
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</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.18%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
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100</P>
</TD>
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"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
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</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
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<P CLASS="Tbodyrule1" ALIGN="left" STYLE=
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$</P>
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"width: 9.18%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.34%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.18%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.76%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
</TR>
<TR>
<TD WIDTH="35%" VALIGN="bottom" STYLE=
"width: 35.74%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">Total assets at fair value on a recurring
basis</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.18%; border: none; border-bottom: double windowtext 2.25pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.76%; border: none; border-bottom: double windowtext 2.25pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
100</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.34%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.18%; border: none; border-bottom: double windowtext 2.25pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="12%" VALIGN="bottom" STYLE=
"width: 12.9%; border: none; border-bottom: double windowtext 2.25pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
100</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.34%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.18%; border: none; border-bottom: double windowtext 2.25pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.18%; border: none; border-bottom: double windowtext 2.25pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.34%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.18%; border: none; border-bottom: double windowtext 2.25pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.76%; border: none; border-bottom: double windowtext 2.25pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
</TR>
<TR>
<TD WIDTH="35%" VALIGN="bottom" STYLE=
"width: 35.74%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">Liabilities:</FONT></FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.18%; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.76%; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.34%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.18%; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="bottom" STYLE=
"width: 12.9%; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.34%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.18%; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.18%; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.34%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.18%; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.76%; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="35%" VALIGN="bottom" STYLE=
"width: 35.74%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Other long-term liabilities:</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.18%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.76%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.34%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.18%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="bottom" STYLE=
"width: 12.9%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.34%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.18%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.18%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.34%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.18%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.76%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="35%" VALIGN="bottom" STYLE=
"width: 35.74%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Deferred payments</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.18%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.76%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
3,278</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.34%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.18%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="12%" VALIGN="bottom" STYLE=
"width: 12.9%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.34%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.18%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.18%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.34%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.18%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.76%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
3,278</P>
</TD>
</TR>
<TR>
<TD WIDTH="35%" VALIGN="bottom" STYLE=
"width: 35.74%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">Total liabilities at fair value on a recurring
basis</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.18%; border: none; border-bottom: double windowtext 2.25pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.76%; border: none; border-bottom: double windowtext 2.25pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
3,278</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.34%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.18%; border: none; border-bottom: double windowtext 2.25pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="12%" VALIGN="bottom" STYLE=
"width: 12.9%; border: none; border-bottom: double windowtext 2.25pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.34%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.18%; border: none; border-bottom: double windowtext 2.25pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.18%; border: none; border-bottom: double windowtext 2.25pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.34%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.18%; border: none; border-bottom: double windowtext 2.25pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.76%; border: none; border-bottom: double windowtext 2.25pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
3,278</P>
</TD>
</TR>
</TABLE>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
66</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">STRAYER EDUCATION,
INC.</FONT></P>
<P CLASS="H1" STYLE=
"margin-top: 0in; mso-style-name: H1; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">NOTES TO CONSOLIDATED
FINANCIAL STATEMENTS</FONT></P>
<P CLASS="Textind" STYLE=
"margin-top: 5.8pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; mso-style-name: Text_ind; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT STYLE="font-size: 9.5pt;">Assets and liabilities measured at
fair value on a recurring basis consist of the following as of
December 31, 2014 (in thousands):</FONT></P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" WIDTH="100%" STYLE=
"width: 100.0%; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="35%" VALIGN="bottom" STYLE=
"width: 35.0%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="10%" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 10.76%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.3%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="45%" COLSPAN="12" VALIGN="bottom" STYLE=
"width: 45.76%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG="EN-GB">Fair
Value Measurements at Reporting Date Using</FONT></FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="35%" VALIGN="bottom" STYLE=
"width: 35.0%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="10%" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 10.76%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">December 31,<BR>
2014</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.3%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="14%" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 14.04%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">Quoted Prices in<BR>
Active Markets for<BR>
Identical<BR>
Assets/Liabilities<BR>
(Level 1)</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.3%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="10%" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 10.2%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">Significant<BR>
Other<BR>
Observable<BR>
Inputs<BR>
(Level 2)</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.3%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="10%" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 10.76%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">Significant<BR>
Unobservable<BR>
Inputs<BR>
(Level 3)</FONT></FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="35%" VALIGN="bottom" STYLE=
"width: 35.0%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">Assets:</FONT></FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.62%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.3%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="bottom" STYLE=
"width: 12.88%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.3%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.04%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
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</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
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</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.3%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
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</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
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<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
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</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
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</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.62%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
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</TD>
</TR>
<TR>
<TD WIDTH="35%" VALIGN="bottom" STYLE=
"width: 35.0%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Cash equivalents:</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
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</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
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</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; padding: 0in 0in 0in 0in;">
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<FONT STYLE=
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</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.62%; padding: 0in 0in 0in 0in;">
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<FONT STYLE=
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</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
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<FONT STYLE=
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</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.3%; padding: 0in 0in 0in 0in;">
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</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
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<FONT STYLE=
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</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
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<FONT STYLE=
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</TD>
<TD WIDTH="12%" VALIGN="bottom" STYLE=
"width: 12.88%; padding: 0in 0in 0in 0in;">
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<FONT STYLE=
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<FONT STYLE=
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</TD>
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<FONT STYLE=
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</TD>
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"width: 1.54%; padding: 0in 0in 0in 0in;">
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<FONT STYLE=
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</TD>
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<FONT STYLE=
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</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.04%; padding: 0in 0in 0in 0in;">
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<FONT STYLE=
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</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
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<FONT STYLE=
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</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.3%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
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</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
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</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.62%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="35%" VALIGN="bottom" STYLE=
"width: 35.0%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Money market funds</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
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</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.62%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 11.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
8,275</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.3%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
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</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="12%" VALIGN="bottom" STYLE=
"width: 12.88%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 20.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
8,275</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
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</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.3%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
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<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
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<FONT STYLE=
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</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.04%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
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&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
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<FONT STYLE=
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</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.3%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
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</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.62%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 11.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
</TR>
<TR>
<TD WIDTH="35%" VALIGN="bottom" STYLE=
"width: 35.0%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Interest rate swaps</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
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</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
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<FONT STYLE=
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</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 11.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.62%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 11.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
143</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.3%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 20.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="12%" VALIGN="bottom" STYLE=
"width: 12.88%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 20.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.3%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 15.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.04%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 15.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
143</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.3%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 11.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.62%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 11.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
</TR>
<TR>
<TD WIDTH="35%" VALIGN="bottom" STYLE=
"width: 35.0%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind2" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_2"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 30.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">Total assets at fair value on a recurring
basis</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.62%; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"margin-left: 11.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
8,418</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.3%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="12%" VALIGN="bottom" STYLE=
"width: 12.88%; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"margin-left: 20.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
8,275</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.3%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.04%; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"margin-left: 15.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
143</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.3%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.62%; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"margin-left: 11.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
</TR>
<TR>
<TD WIDTH="35%" VALIGN="bottom" STYLE=
"width: 35.0%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">Liabilities:</FONT></FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.62%; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.3%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="bottom" STYLE=
"width: 12.88%; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.3%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.04%; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.3%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.62%; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="35%" VALIGN="bottom" STYLE=
"width: 35.0%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Other long-term liabilities:</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.62%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.3%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="bottom" STYLE=
"width: 12.88%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.3%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.04%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.3%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.62%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="35%" VALIGN="bottom" STYLE=
"width: 35.0%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Deferred payments</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.62%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 11.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2,398</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.3%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="12%" VALIGN="bottom" STYLE=
"width: 12.88%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 20.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.3%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.04%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 15.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.3%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.62%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 11.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2,398</P>
</TD>
</TR>
<TR>
<TD WIDTH="35%" VALIGN="bottom" STYLE=
"width: 35.0%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">Total liabilities at fair value on a recurring
basis</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.62%; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"margin-left: 11.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2,398</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.3%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="12%" VALIGN="bottom" STYLE=
"width: 12.88%; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"margin-left: 20.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.3%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.04%; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"margin-left: 15.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.3%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.54%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="9%" VALIGN="bottom" STYLE=
"width: 9.62%; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"margin-left: 11.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2,398</P>
</TD>
</TR>
</TABLE>
<P CLASS="Textind" STYLE=
"margin-top: 10.0pt; mso-style-name: Text_ind; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The Company measures the above items on a recurring basis at fair
value as follows:</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 13.0pt;">
&bull;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
Money market funds &mdash; Classified in Level 1 is excess cash the
Company holds in both taxable and tax-exempt money market funds and
are included in Cash and cash equivalents in the accompanying
Consolidated Balance Sheets. The Company records any net unrealized
gains and losses for changes in fair value as a component of
Accumulated other comprehensive income in Stockholders&rsquo;
equity. The Company&rsquo;s cash and cash equivalents held at
December 31, 2014 and 2015, approximate fair value and are not
disclosed in the above tables because of the short-term nature of
the financial instruments.</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 13.0pt;">
&bull;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
Interest rate swap &mdash; The Company had an interest rate swap
with a notional amount of $118.8 million as of December 31, 2014,
used to minimize the interest rate exposure and fix the variable
interest rate on a portion of the Company&rsquo;s variable rate
debt. The swap was classified within Level 2 and was valued using
readily available pricing sources which utilize market observable
inputs including the current variable interest rate for similar
types of instruments. The swap was terminated when the Company
repaid all its outstanding debt in July 2015 upon completion of its
Amended Credit Facility (see Note 6).</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 13.0pt;">
&bull;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
Deferred payments &mdash; The Company acquired certain assets and
entered into a deferred payment arrangement with one of the sellers
in connection with an acquisition completed in 2011, which is
classified within Level 3 as there is no liquid market for
similarly priced instruments. The deferred payment is valued using
a discounted cash flow model that encompasses significant
unobservable inputs to estimate the operating results of the
acquired assets. The assumptions used to prepare the discounted
cash flows include estimates for interest rates, enrollment growth,
retention rates and pricing strategies. These assumptions are
subject to change as the underlying data sources evolve and the
program matures.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The Company&rsquo;s lease loss liability incorporates an assessment
of current sublease market conditions and uses Level 3 inputs, but
is not deemed a fair value liability as the future lease payments
are required to be discounted using the Company&rsquo;s incremental
borrowing rate at the date of lease abandonment without subsequent
adjustment. See Note 3 for further discussion of the
Company&rsquo;s lease loss liability.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
At December 31, 2014, the carrying value of the Company&rsquo;s
debt was $118.8 million, which approximated fair value. All of the
Company&rsquo;s debt was variable interest rate debt and classified
within Level 2 because it was valued using readily available
pricing sources which utilize market observable inputs. The Company
has no outstanding debt as of December 31, 2015.</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
67</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">STRAYER EDUCATION,
INC.</FONT></P>
<P CLASS="H1" STYLE=
"margin-top: 0in; mso-style-name: H1; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">NOTES TO CONSOLIDATED
FINANCIAL STATEMENTS</FONT></P>
<P CLASS="Textind" STYLE=
"margin-bottom: 10.0pt; mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The Company did not change its valuation techniques associated with
recurring fair value measurements from prior periods, and no assets
or liabilities were transferred between levels of the fair value
hierarchy during the years ended December 31, 2014 or 2015. Changes
in the fair value of the Company&rsquo;s Level 3 deferred payment
liability that was outstanding throughout the years ended December
31, 2014 and 2015 are as follows (in thousands):</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="496" VALIGN="bottom" STYLE=
"width: 372.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="3" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">2014</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="3" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">2015</FONT></FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="496" VALIGN="bottom" STYLE=
"width: 372.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Balance at beginning of year</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 7.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2,115</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 5.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2,398</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="496" VALIGN="bottom" STYLE=
"width: 372.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Amounts earned</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(545</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"margin-left: 5.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"margin-left: 5.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(756</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
</TR>
<TR>
<TD WIDTH="496" VALIGN="BOTTOM" STYLE="width: 372pt; background-color: #CCEEFF; padding: 0in 0in 1pt">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Adjustments to fair value</P>
</TD>
<TD WIDTH="11" VALIGN="BOTTOM" STYLE="width: 8pt; background-color: #CCEEFF; padding: 0in 0in 1pt">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="BOTTOM" STYLE="width: 6pt; background-color: #CCEEFF; padding-top: 0in; padding-right: 0in; border-bottom: Black 1pt solid; padding-left: 0in">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="BOTTOM" STYLE="width: 0.5in; background-color: #CCEEFF; padding-top: 0in; padding-right: 0in; border-bottom: Black 1pt solid; padding-left: 0in">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
828</P>
</TD>
<TD WIDTH="8" VALIGN="BOTTOM" STYLE="width: 6pt; background-color: #CCEEFF; padding: 0in 0in 1pt">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="BOTTOM" STYLE="width: 8pt; background-color: #CCEEFF; padding: 0in 0in 1pt">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="BOTTOM" STYLE="width: 6pt; background-color: #CCEEFF; padding-top: 0in; padding-right: 0in; border-bottom: Black 1pt solid; padding-left: 0in">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 5.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="BOTTOM" STYLE="width: 0.5in; background-color: #CCEEFF; padding-top: 0in; padding-right: 0in; border-bottom: Black 1pt solid; padding-left: 0in">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 5.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
1,636</P>
</TD>
<TD WIDTH="8" VALIGN="BOTTOM" STYLE="width: 6pt; background-color: #CCEEFF; padding: 0in 0in 1pt">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="496" VALIGN="bottom" STYLE=
"width: 372.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: 0.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Balance at end of year</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"margin-left: 7.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2,398</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"margin-left: 5.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
3,278</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
</TABLE>
<P CLASS="H2note" STYLE=
"margin-top: 10.0pt; mso-style-name: H2_note; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">6.</FONT><FONT CLASS=
"Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
Long Term Debt</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
On July 2, 2015, the Company entered into an amended credit
facility (the &ldquo;Amended Credit Facility&rdquo;) which provides
for a revolving line of credit (the &ldquo;Revolver&rdquo;) up to
$150.0 million and provides the Company with an option, under
certain conditions, to increase the commitments under the Revolver
or establish one or more incremental term loans in an amount up to
$50 million in the aggregate in the future. The maturity date of
the Amended Credit Facility is July 2, 2020. The Amended Credit
Facility replaced the Company&rsquo;s prior credit agreement (the
&ldquo;Prior Credit Agreement&rdquo;), dated November 8, 2012,
which had provided for both a term loan and revolving line of
credit and an original maturity date of December 31, 2016. All
amounts outstanding under the Prior Credit Agreement were repaid
upon execution of the Amended Credit Facility. The Company paid
approximately $0.9 million in debt financing costs associated with
the Amended Credit Facility.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Borrowings under the Revolver will bear interest at a per annum
rate equal to, at the Company&rsquo;s election, LIBOR or a base
rate, plus a margin ranging from 1.75% to 2.25% (as compared to
2.00% to 2.50% under the Prior Credit Agreement), depending on the
Company&rsquo;s leverage ratio. The Company also is subject to a
quarterly unused commitment fee ranging from 0.25% to 0.35% per
annum (as compared to 0.30% to 0.40% per annum under the Prior
Credit Agreement), depending on the Company&rsquo;s leverage ratio,
times the daily unused amount under the Revolver.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
All other remaining terms of the Prior Credit Agreement remain in
full force and effect. The Amended Credit Facility is guaranteed by
the University and is secured by substantially all of the personal
property and assets of the Company and the guarantor. The Amended
Credit Facility contains customary affirmative and negative
covenants, representations, warranties, events of default and
remedies upon default, including acceleration and rights to
foreclose on the collateral securing the Amended Credit Facility.
In addition, as with the Prior Credit Agreement, the Amended Credit
Facility requires that the Company satisfy certain financial
maintenance covenants, including:</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 13.0pt;">
&bull;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
A leverage ratio of not greater than 2 to 1. Leverage ratio is
defined as the ratio of total debt to trailing four-quarter EBITDA
(earnings before interest, taxes, depreciation, amortization and
non-cash charges such as stock-based compensation).</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 13.0pt;">
&bull;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
A coverage ratio of not less than 1.75 to 1. Coverage ratio is
defined as the ratio of trailing four-quarter EBITDA and rent
expense to trailing four-quarter interest and rent expense.</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 13.0pt;">
&bull;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
A Department of Education Financial Responsibility Composite Score
of not less than 1.5.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The Company was in compliance with all the terms of the Amended
Credit Facility at December 31, 2015.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
During the years ended December 31, 2014 and 2015, the Company paid
cash interest of $4.4 million and $2.4 million, respectively. The
Company&rsquo;s average annual interest rate, including non-cash
charges for the amortization of debt financing costs, was 4.3% in
2014, and 4.3% in 2015 during the period in which the Company had
debt outstanding. The Company had no outstanding balance under
Revolver as of December 31, 2015.</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
68</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">STRAYER EDUCATION,
INC.</FONT></P>
<P CLASS="H1" STYLE=
"margin-top: 0in; mso-style-name: H1; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">NOTES TO CONSOLIDATED
FINANCIAL STATEMENTS</FONT></P>
<P CLASS="H4" STYLE=
"mso-style-name: H4; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Interest Rate
Swap</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Under the Prior Credit Agreement, the Company was party to an
interest rate swap on the outstanding term loan balance in order to
minimize the interest rate exposure on the balance of the term loan
facility (the &ldquo;Swap&rdquo;). The Swap effectively fixed the
variable interest rate on the associated term loan at a rate
ranging from 2.85% to 3.35%, depending on the Company&rsquo;s
leverage ratio, rather than being subject to fluctuations in the
LIBOR rate. The term of the Swap effectively matched the term of
the underlying term loan facility. The Swap was designated as a
cash flow hedge and was deemed effective in accordance with the
Derivatives and Hedging Topic, ASC 815. The fair value of the Swap
was included in other assets in the Company&rsquo;s consolidated
balance sheets, and was settled in full at the time of the payoff
of the term loan under the Prior Credit Agreement.</P>
<P CLASS="H2note" STYLE=
"mso-style-name: H2_note; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">7.</FONT><FONT CLASS=
"Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
Stock Options, Restricted Stock and Restricted Stock
Units</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
On May 5, 2015, the Company&rsquo;s shareholders approved the
Strayer Education, Inc. 2015 Equity Compensation Plan (the
&ldquo;2015 Plan&rdquo;), which replaced the Strayer Education,
Inc. 2011 Equity Compensation Plan (the &ldquo;2011 Plan&rdquo;).
The 2015 Plan provides for the granting of restricted stock,
restricted stock units, stock options intended to qualify as
incentive stock options, options that do not qualify as incentive
stock options, and other forms of equity compensation and
performance-based awards to employees, officers and directors of
the Company, or to a consultant or advisor to the Company, at the
discretion of the Board of Directors. Vesting provisions are at the
discretion of the Board of Directors. Options may be granted at
option prices based at or above the fair market value of the shares
at the date of grant. The maximum term of the awards granted under
the 2015 Plan is ten years. The number of shares of common stock
reserved for issuance under the 2015 Plan is 500,000 authorized but
unissued shares, plus the number of shares available for grant
under the 2011 Plan at the time of stockholder approval of the 2015
Plan, and plus the number of shares which may in the future become
available under the 2011 Plan due to forfeitures of outstanding
awards.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
In February 2015, the Company&rsquo;s Board of Directors approved
grants of 71,991 shares of restricted stock to certain employees.
These shares, which vest 100% in February 2019, were granted
pursuant to the 2011 Plan. The Company&rsquo;s stock price closed
at $70.15 on the date of these restricted stock grants.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
In May 2015, the Company&rsquo;s Board of Directors approved grants
of 40,867 shares of restricted stock, which vest in their entirety
four years from the date of grant, and were granted pursuant to the
2015 Plan. The Company&rsquo;s Board of Directors also approved
grants of 13,797 shares of restricted stock. These shares, which
vest annually over a three-year period, were awarded to
non-employee members of the Company&rsquo;s Board of Directors, as
part of the Company&rsquo;s annual director compensation program
and the 2015 Plan. The Company&rsquo;s stock price closed at $48.94
on the date of these restricted stock grants.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Dividends paid on unvested restricted stock are reimbursed to the
Company if the recipient forfeits his or her shares as a result of
termination of employment prior to vesting in the award, unless
waived by the Board of Directors.</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
69</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">STRAYER EDUCATION,
INC.</FONT></P>
<P CLASS="H1" STYLE=
"margin-top: 0in; mso-style-name: H1; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">NOTES TO CONSOLIDATED
FINANCIAL STATEMENTS</FONT></P>
<P CLASS="H4" STYLE=
"mso-style-name: H4; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Restricted Stock and
Restricted Stock Units</FONT></P>
<P CLASS="Textind" STYLE=
"margin-bottom: 10.0pt; mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The table below sets forth the restricted stock and restricted
stock units activity for each of the three years in the period
ended December 31, 2015:</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" WIDTH="100%" STYLE=
"width: 100.0%; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="66%" VALIGN="bottom" STYLE=
"width: 66.8%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="9%" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 9.42%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">Number of<BR>
shares</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="14%" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 14.76%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">Weighted-average<BR>
grant price</FONT></FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="66%" VALIGN="bottom" STYLE=
"width: 66.8%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Balance, December 31, 2012</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8%" VALIGN="bottom" STYLE=
"width: 8.2%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
434,439</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="13%" VALIGN="bottom" STYLE=
"width: 13.52%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 17.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
178.88</P>
</TD>
</TR>
<TR>
<TD WIDTH="66%" VALIGN="bottom" STYLE=
"width: 66.8%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Grants</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8%" VALIGN="bottom" STYLE=
"width: 8.2%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
225,741</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 17.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="13%" VALIGN="bottom" STYLE=
"width: 13.52%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 17.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
57.90</P>
</TD>
</TR>
<TR>
<TD WIDTH="66%" VALIGN="bottom" STYLE=
"width: 66.8%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Vested shares</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8%" VALIGN="bottom" STYLE=
"width: 8.2%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(51,916</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 17.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="13%" VALIGN="bottom" STYLE=
"width: 13.52%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 17.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
164.22</P>
</TD>
</TR>
<TR>
<TD WIDTH="66%" VALIGN="bottom" STYLE=
"width: 66.8%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Forfeitures</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8%" VALIGN="bottom" STYLE=
"width: 8.2%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(120,491</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" ALIGN="left" STYLE=
'text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
)</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 17.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="13%" VALIGN="bottom" STYLE=
"width: 13.52%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 17.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
140.30</P>
</TD>
</TR>
<TR>
<TD WIDTH="66%" VALIGN="bottom" STYLE=
"width: 66.8%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Balance, December 31, 2013</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8%" VALIGN="bottom" STYLE=
"width: 8.2%; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
487,773</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="13%" VALIGN="bottom" STYLE=
"width: 13.52%; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 17.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
131.51</P>
</TD>
</TR>
<TR>
<TD WIDTH="66%" VALIGN="bottom" STYLE=
"width: 66.8%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Grants</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8%" VALIGN="bottom" STYLE=
"width: 8.2%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
108,606</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 17.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="13%" VALIGN="bottom" STYLE=
"width: 13.52%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 17.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
38.95</P>
</TD>
</TR>
<TR>
<TD WIDTH="66%" VALIGN="bottom" STYLE=
"width: 66.8%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Vested shares</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8%" VALIGN="bottom" STYLE=
"width: 8.2%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(69,434</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 17.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="13%" VALIGN="bottom" STYLE=
"width: 13.52%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 17.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
158.97</P>
</TD>
</TR>
<TR>
<TD WIDTH="66%" VALIGN="bottom" STYLE=
"width: 66.8%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Forfeitures</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8%" VALIGN="bottom" STYLE=
"width: 8.2%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(2,729</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" ALIGN="left" STYLE=
'text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
)</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 17.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="13%" VALIGN="bottom" STYLE=
"width: 13.52%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 17.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
93.44</P>
</TD>
</TR>
<TR>
<TD WIDTH="66%" VALIGN="bottom" STYLE=
"width: 66.8%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Balance, December 31, 2014</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8%" VALIGN="bottom" STYLE=
"width: 8.2%; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
524,216</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="13%" VALIGN="bottom" STYLE=
"width: 13.52%; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 17.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
115.67</P>
</TD>
</TR>
<TR>
<TD WIDTH="66%" VALIGN="bottom" STYLE=
"width: 66.8%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Grants</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8%" VALIGN="bottom" STYLE=
"width: 8.2%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
126,655</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 17.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="13%" VALIGN="bottom" STYLE=
"width: 13.52%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 17.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
61.00</P>
</TD>
</TR>
<TR>
<TD WIDTH="66%" VALIGN="bottom" STYLE=
"width: 66.8%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Vested shares</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8%" VALIGN="bottom" STYLE=
"width: 8.2%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(13,725</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 17.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="13%" VALIGN="bottom" STYLE=
"width: 13.52%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 17.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
52.94</P>
</TD>
</TR>
<TR>
<TD WIDTH="66%" VALIGN="bottom" STYLE=
"width: 66.8%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Forfeitures</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8%" VALIGN="bottom" STYLE=
"width: 8.2%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(2,819</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" ALIGN="left" STYLE=
'text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
)</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.46%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 17.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="13%" VALIGN="bottom" STYLE=
"width: 13.52%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 17.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
115.55</P>
</TD>
</TR>
<TR>
<TD WIDTH="66%" VALIGN="bottom" STYLE=
"width: 66.8%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Balance, December 31, 2015</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8%" VALIGN="bottom" STYLE=
"width: 8.2%; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
634,327</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.46%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.64%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.22%; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="13%" VALIGN="bottom" STYLE=
"width: 13.52%; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"margin-left: 17.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
104.66</P>
</TD>
</TR>
</TABLE>
<P CLASS="H4" STYLE=
"margin-top: 10.0pt; mso-style-name: H4; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Stock
Options</FONT></P>
<P CLASS="Textind" STYLE=
"margin-bottom: 10.0pt; mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The table below sets forth the stock option activity for each of
the three years in the period ended December 31, 2015 and other
stock option information at December 31, 2015:</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" WIDTH="100%" STYLE=
"width: 100.0%; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="35%" VALIGN="bottom" STYLE=
"width: 35.86%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="9%" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 9.1%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">Number of<BR>
shares</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="13%" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 13.96%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">Weighted-average exercise price</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="13%" VALIGN="bottom" STYLE=
"width: 13.56%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">Weighted-<BR>
average<BR>
remaining<BR>
contractual<BR>
life (years)</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 12.02%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">Aggregate<BR>
intrinsic<BR>
value</FONT></FONT><FONT CLASS="superscript" STYLE=
"font-size: 6pt; mso-style-name: superscript; vertical-align: super;"><FONT LANG="EN-GB"
STYLE="font-size: 6pt;">(1)</FONT></FONT><FONT CLASS=
"Bold" STYLE="mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB"><BR>
(in thousands)</FONT></FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="35%" VALIGN="bottom" STYLE=
"width: 35.86%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Balance, December 31, 2012</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.94%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
100,000</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="12%" VALIGN="bottom" STYLE=
"width: 12.8%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 15.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
107.28</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="13%" VALIGN="bottom" STYLE=
"width: 13.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE="font: 10pt/normal TimesNewRomanPSStd-Regular; text-align: center; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: 0in; margin-bottom: 0pt; text-autospace: none; color: black">
0.1</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="10%" VALIGN="bottom" STYLE=
"width: 10.86%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 14.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
</TR>
<TR>
<TD WIDTH="35%" VALIGN="bottom" STYLE=
"width: 35.86%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Grants</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.94%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
100,000</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 15.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="12%" VALIGN="bottom" STYLE=
"width: 12.8%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 15.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
51.95</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="13%" VALIGN="bottom" STYLE=
"width: 13.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="10%" VALIGN="bottom" STYLE=
"width: 10.86%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="35%" VALIGN="bottom" STYLE=
"width: 35.86%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Exercises</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.94%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 15.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="12%" VALIGN="bottom" STYLE=
"width: 12.8%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 15.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="13%" VALIGN="bottom" STYLE=
"width: 13.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="10%" VALIGN="bottom" STYLE=
"width: 10.86%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="35%" VALIGN="bottom" STYLE=
"width: 35.86%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Forfeitures</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.94%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(100,000</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" ALIGN="left" STYLE=
'text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
)</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 15.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="12%" VALIGN="bottom" STYLE=
"width: 12.8%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 15.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
107.28</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="13%" VALIGN="bottom" STYLE=
"width: 13.56%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 14.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="10%" VALIGN="bottom" STYLE=
"width: 10.86%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 14.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
</TR>
<TR>
<TD WIDTH="35%" VALIGN="bottom" STYLE=
"width: 35.86%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Balance, December 31, 2013</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.94%; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
100,000</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="12%" VALIGN="bottom" STYLE=
"width: 12.8%; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 15.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
51.95</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="13%" VALIGN="bottom" STYLE=
"width: 13.56%; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE="font: 10pt/normal TimesNewRomanPSStd-Regular; text-align: center; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: 0in; margin-bottom: 0pt; text-autospace: none; color: black">
7.0</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="10%" VALIGN="bottom" STYLE=
"width: 10.86%; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 14.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
</TR>
<TR>
<TD WIDTH="35%" VALIGN="bottom" STYLE=
"width: 35.86%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Grants</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.94%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 15.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="12%" VALIGN="bottom" STYLE=
"width: 12.8%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 15.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="13%" VALIGN="bottom" STYLE=
"width: 13.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="10%" VALIGN="bottom" STYLE=
"width: 10.86%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="35%" VALIGN="bottom" STYLE=
"width: 35.86%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Exercises</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.94%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 15.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="12%" VALIGN="bottom" STYLE=
"width: 12.8%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 15.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="13%" VALIGN="bottom" STYLE=
"width: 13.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="10%" VALIGN="bottom" STYLE=
"width: 10.86%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="35%" VALIGN="bottom" STYLE=
"width: 35.86%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Forfeitures</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.94%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 15.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="12%" VALIGN="bottom" STYLE=
"width: 12.8%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 15.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="13%" VALIGN="bottom" STYLE=
"width: 13.56%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 14.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="10%" VALIGN="bottom" STYLE=
"width: 10.86%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 14.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
</TR>
<TR>
<TD WIDTH="35%" VALIGN="bottom" STYLE=
"width: 35.86%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Balance, December 31, 2014</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.94%; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
100,000</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="12%" VALIGN="bottom" STYLE=
"width: 12.8%; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 15.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
51.95</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="13%" VALIGN="bottom" STYLE=
"width: 13.56%; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE="font: 10pt/normal TimesNewRomanPSStd-Regular; text-align: center; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: 0in; margin-bottom: 0pt; text-autospace: none; color: black">
6.0</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="10%" VALIGN="bottom" STYLE=
"width: 10.86%; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 14.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2,233</P>
</TD>
</TR>
<TR>
<TD WIDTH="35%" VALIGN="bottom" STYLE=
"width: 35.86%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Grants</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.94%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 15.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="12%" VALIGN="bottom" STYLE=
"width: 12.8%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 15.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="13%" VALIGN="bottom" STYLE=
"width: 13.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="10%" VALIGN="bottom" STYLE=
"width: 10.86%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="35%" VALIGN="bottom" STYLE=
"width: 35.86%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Exercises</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.94%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 15.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="12%" VALIGN="bottom" STYLE=
"width: 12.8%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 15.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="13%" VALIGN="bottom" STYLE=
"width: 13.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="10%" VALIGN="bottom" STYLE=
"width: 10.86%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="35%" VALIGN="bottom" STYLE=
"width: 35.86%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Forfeitures/Expirations</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.94%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 15.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="12%" VALIGN="bottom" STYLE=
"width: 12.8%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 15.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="13%" VALIGN="bottom" STYLE=
"width: 13.56%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 14.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="10%" VALIGN="bottom" STYLE=
"width: 10.86%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 14.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
</TR>
<TR>
<TD WIDTH="35%" VALIGN="bottom" STYLE=
"width: 35.86%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Balance, December 31, 2015</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.94%; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
100,000</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="12%" VALIGN="bottom" STYLE=
"width: 12.8%; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"margin-left: 15.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
51.95</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="13%" VALIGN="bottom" STYLE=
"width: 13.56%; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE="border-style: none; text-align: center; font: 10pt/normal TimesNewRomanPSStd-Regular; padding: 0in 0in 3px; mso-style-name: Tbody_rule2; margin-top: 0in; margin-bottom: 0in; margin-bottom: 0pt; text-autospace: none; padding-bottom: 0in; color: black">
5.1</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="10%" VALIGN="bottom" STYLE=
"width: 10.86%; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"margin-left: 14.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
817</P>
</TD>
</TR>
<TR>
<TD WIDTH="35%" VALIGN="bottom" STYLE=
"width: 35.86%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Exercisable, December 31, 2015</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.94%; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
100,000</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="12%" VALIGN="bottom" STYLE=
"width: 12.8%; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 15.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
51.95</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="13%" VALIGN="bottom" STYLE=
"width: 13.56%; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE="font: 10pt/normal TimesNewRomanPSStd-Regular; text-align: center; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: 0in; margin-bottom: 0pt; text-autospace: none; color: black">
5.1</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="10%" VALIGN="bottom" STYLE=
"width: 10.86%; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 14.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
817</P>
</TD>
</TR>
</TABLE>
<P CLASS="Tablefootnotef" STYLE=
"margin-top: 0in; line-height: normal; border: none; mso-style-name: Tablefootnote_f; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -20.0pt; text-autospace: none; padding: 0in; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
____________</P>
<P CLASS="Tablefootnotef" STYLE=
"margin-top: 0in; line-height: normal; border: none; mso-style-name: Tablefootnote_f; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -20.0pt; text-autospace: none; padding: 0in; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(1)<FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;</FONT> The
aggregate intrinsic value in the table above represents the total
pre-tax intrinsic value (the difference between the Company&rsquo;s
closing stock price on the respective trading day and the exercise
price, multiplied by the number of in-the-money options) that would
have been received by the option holder had all options been
exercised on the respective trading day. The amount of intrinsic
value will change based on the fair market value of the
Company&rsquo;s common stock.</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
70</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">STRAYER EDUCATION,
INC.</FONT></P>
<P CLASS="H1" STYLE=
"margin-top: 0in; mso-style-name: H1; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">NOTES TO CONSOLIDATED
FINANCIAL STATEMENTS</FONT></P>
<P CLASS="Textind" STYLE=
"margin-bottom: 10.0pt; mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The number of shares exercisable as of December 31, 2013, 2014 and
2015 are as follows:</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="432" VALIGN="bottom" STYLE=
"width: 4.5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="61" VALIGN="bottom" STYLE=
"width: 46.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT LANG="EN-GB">Number of<BR>
shares</FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="96" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 1.0in; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT LANG="EN-GB">Weighted-average<BR>
exercise price</FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="432" VALIGN="bottom" STYLE=
"width: 4.5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Exercisable, December 31, 2013</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="61" VALIGN="bottom" STYLE=
"width: 46.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="88" VALIGN="bottom" STYLE=
"width: 66.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: .25in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
51.95</P>
</TD>
</TR>
<TR>
<TD WIDTH="432" VALIGN="bottom" STYLE=
"width: 4.5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Exercisable, December 31, 2014</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="61" VALIGN="bottom" STYLE=
"width: 46.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="88" VALIGN="bottom" STYLE=
"width: 66.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: .25in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
51.95</P>
</TD>
</TR>
<TR>
<TD WIDTH="432" VALIGN="bottom" STYLE=
"width: 4.5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Exercisable, December 31, 2015</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="61" VALIGN="bottom" STYLE=
"width: 46.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
100,000</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="88" VALIGN="bottom" STYLE=
"width: 66.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: .25in; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
51.95</P>
</TD>
</TR>
</TABLE>
<P CLASS="H4" STYLE=
"margin-top: 10.0pt; mso-style-name: H4; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Valuation and Expense
Information under Stock Compensation Topic ASC 718</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
At December 31, 2015, total stock-based compensation cost which has
not yet been recognized was $25.7 million for unvested restricted
stock, restricted stock units, and stock option awards. This cost
is expected to be recognized over the next 33 months on a
weighted-average basis. Awards of approximately 467,000 shares of
restricted stock and restricted stock units are subject to
performance conditions. The accrual for stock-based compensation
for performance awards is based on the Company&rsquo;s estimates
that such performance criteria are probable of being achieved over
the respective vesting periods. Such a determination involves
significant judgment surrounding the Company&rsquo;s ability to
maintain regulatory compliance. If the performance targets are not
reached during the respective vesting period, or it is determined
it is more likely than not that the performance criteria will not
be achieved, related compensation expense is adjusted.</P>
<P CLASS="Textind" STYLE=
"margin-bottom: 10.0pt; mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The following table sets forth the amount of stock-based
compensation expense recorded in each of the expense line items for
the years ended December 31, 2013, 2014 and 2015 (in
thousands):</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" WIDTH="100%" STYLE=
"width: 100.0%; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="59%" VALIGN="bottom" STYLE=
"width: 59.88%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.32%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 7.94%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">2013</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.32%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 7.94%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">2014</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.32%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 7.94%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">2015</FONT></FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="59%" VALIGN="bottom" STYLE=
"width: 59.88%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Instruction and educational support</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.32%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.78%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 2.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
1,976</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.32%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.78%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 2.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
1,736</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.32%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.78%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2,134</P>
</TD>
</TR>
<TR>
<TD WIDTH="59%" VALIGN="bottom" STYLE=
"width: 59.88%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Marketing</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.32%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 2.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.78%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 2.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.32%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 2.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.78%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 2.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.32%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.78%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
</TR>
<TR>
<TD WIDTH="59%" VALIGN="bottom" STYLE=
"width: 59.88%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Admissions advisory</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.32%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 2.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.78%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 2.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.32%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 2.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.78%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 2.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.32%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.78%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
</TR>
<TR>
<TD WIDTH="59%" VALIGN="bottom" STYLE=
"width: 59.88%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
General and administration</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.32%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 2.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.78%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 2.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
7,315</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.32%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 2.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.78%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 2.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
7,717</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.32%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.78%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
8,079</P>
</TD>
</TR>
<TR>
<TD WIDTH="59%" VALIGN="bottom" STYLE=
"width: 59.88%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">Stock-based compensation expense included in
operating expense</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.32%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 2.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.78%; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 2.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
9,291</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.32%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 2.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.78%; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 2.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
9,453</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.32%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.78%; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10,213</P>
</TD>
</TR>
<TR>
<TD WIDTH="59%" VALIGN="bottom" STYLE=
"width: 59.88%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Tax benefit</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.32%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 2.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.78%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 2.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
3,698</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.32%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 2.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.78%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 2.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
3,734</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.32%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.78%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
4,032</P>
</TD>
</TR>
<TR>
<TD WIDTH="59%" VALIGN="bottom" STYLE=
"width: 59.88%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">Stock-based compensation expense, net of
tax</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.32%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.78%; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"margin-left: 2.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
5,593</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.32%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.78%; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"margin-left: 2.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
5,719</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.32%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="6%" VALIGN="bottom" STYLE=
"width: 6.78%; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
6,181</P>
</TD>
</TR>
</TABLE>
<P CLASS="Textind" STYLE=
"margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; mso-style-name: Text_ind; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The following table summarizes information regarding share-based
payment arrangements for the years ended December 31, 2013, 2014
and 2015 (in thousands):</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" WIDTH="100%" STYLE=
"width: 100.0%; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="59%" VALIGN="bottom" STYLE=
"width: 59.88%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.32%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" COLSPAN="3" VALIGN="bottom" STYLE=
"width: 7.94%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
2013</P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.32%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" COLSPAN="3" VALIGN="bottom" STYLE=
"width: 7.94%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
2014</P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
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<FONT STYLE=
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<TD WIDTH="1%" VALIGN="bottom" STYLE=
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<FONT STYLE=
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</TD>
<TD WIDTH="7%" COLSPAN="3" VALIGN="bottom" STYLE=
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<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
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2015</P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="59%" VALIGN="bottom" STYLE=
"width: 59.88%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
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Proceeds from stock options exercised</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
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</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
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<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
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$</P>
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&mdash;</P>
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$</P>
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&mdash;</P>
</TD>
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</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
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<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="5%" VALIGN="bottom" STYLE=
"width: 5.62%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
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&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
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</TD>
</TR>
<TR>
<TD WIDTH="59%" VALIGN="bottom" STYLE=
"width: 59.88%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Tax shortfall related to share-based payment<BR>
arrangements</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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</TD>
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$</P>
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(3,567</P>
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)</P>
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(2,039</P>
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(24</P>
</TD>
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)</P>
</TD>
</TR>
<TR>
<TD WIDTH="59%" VALIGN="bottom" STYLE=
"width: 59.88%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Intrinsic value of stock options
exercised</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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</TD>
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$</P>
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&mdash;</P>
</TD>
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"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="5%" VALIGN="bottom" STYLE=
"width: 5.62%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.32%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="5%" VALIGN="bottom" STYLE=
"width: 5.62%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 8.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
</TABLE>
<P CLASS="H2note" STYLE=
"margin-top: 10.0pt; mso-style-name: H2_note; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">8.</FONT><FONT CLASS=
"Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
Other Long-Term Liabilities</FONT></P>
<P CLASS="Textind" STYLE=
"margin-bottom: 10.0pt; mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Other long-term liabilities consist of the following as of December
31, 2014 and 2015 (in thousands):</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" WIDTH="100%" STYLE=
"width: 100.0%; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="72%" VALIGN="bottom" STYLE=
"width: 72.0%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.4%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8%" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 8.4%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">2014</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.4%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8%" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 8.4%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">2015</FONT></FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="72%" VALIGN="bottom" STYLE=
"width: 72.0%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Loss on facilities not in use</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.4%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.2%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.2%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
21,280</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.4%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.2%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.2%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
15,229</P>
</TD>
</TR>
<TR>
<TD WIDTH="72%" VALIGN="bottom" STYLE=
"width: 72.0%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Deferred revenue, net of current
portion</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.4%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.2%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.2%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
9,654</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.4%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.2%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.2%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
14,429</P>
</TD>
</TR>
<TR>
<TD WIDTH="72%" VALIGN="bottom" STYLE=
"width: 72.0%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Deferred rent and other facility
costs</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.4%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.2%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.2%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
8,646</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.4%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.2%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.2%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
8,993</P>
</TD>
</TR>
<TR>
<TD WIDTH="72%" VALIGN="bottom" STYLE=
"width: 72.0%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Deferred payments related to
acquisition</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.4%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.2%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.2%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
5,198</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.4%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.2%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.2%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
6,078</P>
</TD>
</TR>
<TR>
<TD WIDTH="72%" VALIGN="bottom" STYLE=
"width: 72.0%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Lease incentives</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.4%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.2%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.2%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
1,056</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.4%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.2%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.2%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
3,125</P>
</TD>
</TR>
<TR>
<TD WIDTH="72%" VALIGN="bottom" STYLE=
"width: 72.0%; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Deferred gain on sale of campus
building</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.4%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.2%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.2%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
414</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.4%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.2%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.2%; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
133</P>
</TD>
</TR>
<TR>
<TD WIDTH="72%" VALIGN="bottom" STYLE=
"width: 72.0%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.4%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.2%; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.2%; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
46,248</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.4%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.2%; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.2%; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
47,987</P>
</TD>
</TR>
</TABLE>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
71</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">STRAYER EDUCATION,
INC.</FONT></P>
<P CLASS="H1" STYLE=
"margin-top: 0in; mso-style-name: H1; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">NOTES TO CONSOLIDATED
FINANCIAL STATEMENTS</FONT></P>
<P CLASS="H4" STYLE=
"mso-style-name: H4; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Loss on Facilities
Not in Use and Deferred Rent and Other Facility Costs</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The Company records a liability for lease costs of campuses and
non-campus facilities that are not currently in use (see Note 3).
For facilities still in use, the Company records rent expense on a
straight-line basis over the initial term of a lease. The
difference between the rent payment and the straight-line rent
expense is recorded as a liability.</P>
<P CLASS="H4" STYLE=
"mso-style-name: H4; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Deferred
Revenue</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The Company provides for certain scholarship and awards programs,
such as the Graduation Fund (see Note 2 for additional
information), that are earned by students when they successfully
complete course requirements. The Company also has licensed certain
of its non-credit bearing course content to a third party. Included
in long-term deferred revenue is the amount of revenue under these
arrangements that the Company expects will be realized after one
year.</P>
<P CLASS="H4" STYLE=
"mso-style-name: H4; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Deferred Payments
Related to Acquisition</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The Company acquired certain assets and entered into deferred
payment arrangements with one of the sellers in connection with an
acquisition completed in 2011. The deferred payment arrangements
are valued at approximately $2.4 million and $3.3 million as of
December 31, 2014 and 2015, respectively. In addition, one of the
sellers contributed $2.8 million to the Company representing the
seller&rsquo;s continuing interest in the assets acquired.</P>
<P CLASS="H4" STYLE=
"mso-style-name: H4; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Lease
Incentives</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
In conjunction with the opening of new campuses or renovating
existing ones, the Company, in some instances, was reimbursed by
the lessors for improvements made to the leased properties. In
accordance with ASC 840-20, the underlying assets were capitalized
as leasehold improvements and a liability was established for the
reimbursements. The leasehold improvements and the liability are
amortized on a straight-line basis over the corresponding lease
terms, which generally range from five to 10 years.</P>
<P CLASS="H4" STYLE=
"mso-style-name: H4; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Deferred Gain on Sale
of Campus Building</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
In June 2007, the Company sold one of its campus buildings for $5.8
million. The Company is leasing back most of the campus building
over a 10-year period. In conjunction with this sale and lease back
transaction, the Company realized a gain of $2.8 million before
tax, which is deferred and recognized over the 10-year lease
term.</P>
<P CLASS="H2note" STYLE=
"mso-style-name: H2_note; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">9.</FONT><FONT CLASS=
"Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
Other Employee Benefit Plans</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The Company has a 401(k) plan covering all eligible employees of
the Company. Effective January 1, 2016, participants may contribute
up to $18,000 of their base compensation annually. Employee
contributions are voluntary. Discretionary contributions were made
by the Company matching 50% of employee deferrals up to a maximum
of 3% of the employee&rsquo;s annual salary. The Company&rsquo;s
contributions, which vest immediately, totaled $1.1 million, $0.9
million and $1.1 million for the years ended December 31, 2013,
2014, and 2015, respectively.</P>
<P CLASS="Textind" STYLE=
"margin-bottom: 10.0pt; mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
In May 1998, the Company adopted the Strayer Education, Inc.
Employee Stock Purchase Plan (&ldquo;ESPP&rdquo;). Under the ESPP,
eligible employees may purchase shares of the Company&rsquo;s
common stock, subject to certain limitations, at 90% of its market
value at the date of purchase. Purchases are limited to 10% of an
employee&rsquo;s eligible compensation. The aggregate number of
shares of common stock that may be made available for purchase by
participating employees under the ESPP is 2,500,000 shares. Shares
purchased in the open market for employees for the years ended
December 31, 2013, 2014, and 2015 were as follows:</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="456" VALIGN="bottom" STYLE=
"width: 4.75in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="61" VALIGN="bottom" STYLE=
"width: 46.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT LANG="EN-GB">Shares<BR>
purchased</FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="75" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 56.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT LANG="EN-GB">Average price<BR>
per share</FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="456" VALIGN="bottom" STYLE=
"width: 4.75in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2013</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="61" VALIGN="bottom" STYLE=
"width: 46.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
"text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
8,911</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="67" VALIGN="bottom" STYLE=
"width: 50.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 10.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
42.27</P>
</TD>
</TR>
<TR>
<TD WIDTH="456" VALIGN="bottom" STYLE=
"width: 4.75in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2014</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="61" VALIGN="bottom" STYLE=
"width: 46.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
"text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
5,872</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="67" VALIGN="bottom" STYLE=
"width: 50.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 10.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
44.55</P>
</TD>
</TR>
<TR>
<TD WIDTH="456" VALIGN="bottom" STYLE=
"width: 4.75in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2015</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="61" VALIGN="bottom" STYLE=
"width: 46.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
"text-align: center; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
5,136</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="67" VALIGN="bottom" STYLE=
"width: 50.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 10.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
49.10</P>
</TD>
</TR>
</TABLE>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
72</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">STRAYER EDUCATION,
INC.</FONT></P>
<P CLASS="H1" STYLE=
"margin-top: 0in; mso-style-name: H1; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">NOTES TO CONSOLIDATED
FINANCIAL STATEMENTS</FONT></P>
<P CLASS="H2note" STYLE=
"mso-style-name: H2_note; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">10.</FONT><FONT CLASS=
"Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;</FONT>
Stock Repurchase Plan</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
In November 2003, the Company&rsquo;s Board of Directors authorized
the Company to repurchase up to an aggregate of $15 million in
value of common stock in open market purchases from time to time at
the discretion of the Company&rsquo;s management depending on
market conditions and other corporate considerations. The
Company&rsquo;s Board of Directors amended the program on various
dates, increasing the repurchase amount authorized and extending
the expiration date. At December 31, 2015, approximately $70
million of the Company&rsquo;s share repurchase authorization was
remaining for repurchases through December 31, 2016. All of the
Company&rsquo;s share repurchases were effected in compliance with
Rule 10b-18 under the Securities Exchange Act of 1934, as amended.
This stock repurchase plan may be modified, suspended or terminated
at any time by the Company without notice.</P>
<P CLASS="Textind" STYLE=
"margin-bottom: 10.0pt; mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
A summary of the Company&rsquo;s stock repurchase activity for the
years ended December 31, 2013, 2014, and 2015, all of which was
part of a publicly announced plan, is set forth in the table
below:</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="347" VALIGN="bottom" STYLE=
"width: 260.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="69" VALIGN="bottom" STYLE=
"width: 52.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT LANG="EN-GB">Number of<BR>
shares<BR>
repurchased</FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="100" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 75.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT LANG="EN-GB">Average price paid<BR>
per share</FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="108" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 81.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT LANG="EN-GB">Amount available for future repurchases (in
millions)</FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="347" VALIGN="bottom" STYLE=
"width: 260.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2013</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="69" VALIGN="bottom" STYLE=
"width: 52.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
495,085</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="92" VALIGN="bottom" STYLE=
"width: 69.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 19.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
50.49</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="100" VALIGN="bottom" STYLE=
"width: 75.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 25.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
70.0</P>
</TD>
</TR>
<TR>
<TD WIDTH="347" VALIGN="bottom" STYLE=
"width: 260.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2014</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="69" VALIGN="bottom" STYLE=
"width: 52.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="92" VALIGN="bottom" STYLE=
"width: 69.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 19.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="100" VALIGN="bottom" STYLE=
"width: 75.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 25.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
70.0</P>
</TD>
</TR>
<TR>
<TD WIDTH="347" VALIGN="bottom" STYLE=
"width: 260.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2015</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="69" VALIGN="bottom" STYLE=
"width: 52.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="92" VALIGN="bottom" STYLE=
"width: 69.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 19.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="100" VALIGN="bottom" STYLE=
"width: 75.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 25.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
70.0</P>
</TD>
</TR>
</TABLE>
<P CLASS="Textind" STYLE=
"margin-top: 10.0pt; mso-style-name: Text_ind; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Repurchases of common stock are recorded as a reduction to
additional paid-in capital. To the extent additional paid-in
capital had been reduced to zero through stock repurchases,
retained earnings was then reduced.</P>
<P CLASS="H2note" STYLE=
"mso-style-name: H2_note; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">11.</FONT><FONT CLASS=
"Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;</FONT>
Commitments and Contingencies</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The University participates in various federal student financial
assistance programs which are subject to audit by agencies
including the Department of Education, the Veterans Administration,
and the Department of Defense. Management believes that the
potential effects of audit adjustments, if any, for the periods
currently under audit will not have a material adverse effect,
individually or in the aggregate, on the Company&rsquo;s
consolidated financial position, results of operations or cash
flows.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
As of December 31, 2015, the Company had 88 long-term,
non-cancelable operating leases for campuses and other
administrative facilities. Rent expense was $82.2 million, $35.7
million, and $37.5 million for the years ended December 31, 2013,
2014, and 2015, respectively. Rent expense for 2013 includes
approximately $36.0 million in charges related to the closure of 20
campus locations. Rent expense for 2014 and 2015 includes benefits
of approximately $4.1 million and $0.4 million, respectively, to
reduce the Company&rsquo;s liability for losses on facilities no
longer in use. The rents on the Company&rsquo;s leases are subject
to annual increases.</P>
<P CLASS="Textind" STYLE=
"margin-bottom: 10.0pt; mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The minimum rental commitments for the Company as of December 31,
2015 are as follows (in thousands):</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="533" VALIGN="bottom" STYLE=
"width: 400.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="75" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 56.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT LANG="EN-GB">Minimum<BR>
rental<BR>
commitments</FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="533" VALIGN="bottom" STYLE=
"width: 400.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2016</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="67" VALIGN="bottom" STYLE=
"width: 50.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 6.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
37,240</P>
</TD>
</TR>
<TR>
<TD WIDTH="533" VALIGN="bottom" STYLE=
"width: 400.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2017</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 6.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="67" VALIGN="bottom" STYLE=
"width: 50.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 6.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
33,264</P>
</TD>
</TR>
<TR>
<TD WIDTH="533" VALIGN="bottom" STYLE=
"width: 400.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2018</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 6.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="67" VALIGN="bottom" STYLE=
"width: 50.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 6.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
28,819</P>
</TD>
</TR>
<TR>
<TD WIDTH="533" VALIGN="bottom" STYLE=
"width: 400.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2019</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 6.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="67" VALIGN="bottom" STYLE=
"width: 50.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 6.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
23,444</P>
</TD>
</TR>
<TR>
<TD WIDTH="533" VALIGN="bottom" STYLE=
"width: 400.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2020</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 6.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="67" VALIGN="bottom" STYLE=
"width: 50.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 6.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
18,157</P>
</TD>
</TR>
<TR>
<TD WIDTH="533" VALIGN="bottom" STYLE=
"width: 400.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Thereafter</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 6.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="67" VALIGN="bottom" STYLE=
"width: 50.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 6.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
26,140</P>
</TD>
</TR>
<TR>
<TD WIDTH="533" VALIGN="bottom" STYLE=
"width: 400.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Total</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="67" VALIGN="bottom" STYLE=
"width: 50.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"margin-left: 6.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
167,064</P>
</TD>
</TR>
</TABLE>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
73</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">STRAYER EDUCATION,
INC.</FONT></P>
<P CLASS="H1" STYLE=
"margin-top: 0in; mso-style-name: H1; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">NOTES TO CONSOLIDATED
FINANCIAL STATEMENTS</FONT></P>
<P CLASS="H2note" STYLE=
"mso-style-name: H2_note; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">12.</FONT><FONT CLASS=
"Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;</FONT>
Income Taxes</FONT></P>
<P CLASS="Textind" STYLE=
"margin-top: 4.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; mso-style-name: Text_ind; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The income tax provision for the years ended December 31, 2013,
2014 and 2015 is summarized below (in thousands):</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="400" VALIGN="bottom" STYLE=
"width: 300.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="59" COLSPAN="3" VALIGN="bottom" STYLE=
"width: 44.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">2013</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="59" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 44.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">2014</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="59" COLSPAN="3" VALIGN="bottom" STYLE=
"width: 44.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">2015</FONT></FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="400" VALIGN="bottom" STYLE=
"width: 300.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Current:</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="43" VALIGN="bottom" STYLE=
"width: 32.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="51" VALIGN="bottom" STYLE=
"width: 38.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="43" VALIGN="bottom" STYLE=
"width: 32.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="400" VALIGN="bottom" STYLE=
"width: 300.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Federal</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="43" VALIGN="bottom" STYLE=
"width: 32.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
26,390</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="51" VALIGN="bottom" STYLE=
"width: 38.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
25,285</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="43" VALIGN="bottom" STYLE=
"width: 32.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
25,515</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="400" VALIGN="bottom" STYLE=
"width: 300.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
State</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="43" VALIGN="bottom" STYLE=
"width: 32.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
4,582</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 2.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="51" VALIGN="bottom" STYLE=
"width: 38.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 2.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
4,490</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 2.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="43" VALIGN="bottom" STYLE=
"width: 32.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 2.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
4,538</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="400" VALIGN="bottom" STYLE=
"width: 300.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Total current</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="43" VALIGN="bottom" STYLE=
"width: 32.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
30,972</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 2.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="51" VALIGN="bottom" STYLE=
"width: 38.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 2.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
29,775</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 2.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="43" VALIGN="bottom" STYLE=
"width: 32.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
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30,053</P>
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<TD WIDTH="400" VALIGN="bottom" STYLE=
"width: 300.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
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Deferred:</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
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</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
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<TD WIDTH="43" VALIGN="bottom" STYLE=
"width: 32.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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"width: 32.0pt; background: white; padding: 0in 0in 0in 0in;">
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(18,387</P>
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"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
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141</P>
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"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
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(3,634</P>
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&nbsp;</P>
</TD>
<TD WIDTH="51" VALIGN="bottom" STYLE=
"width: 38.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 2.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
344</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'margin-left: 2.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&nbsp;</P>
</TD>
<TD WIDTH="43" VALIGN="bottom" STYLE=
"width: 32.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'margin-left: 2.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(311</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" ALIGN="left" STYLE=
'text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
)</P>
</TD>
</TR>
<TR>
<TD WIDTH="400" VALIGN="bottom" STYLE=
"width: 300.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Total deferred</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&nbsp;</P>
</TD>
<TD WIDTH="43" VALIGN="bottom" STYLE=
"width: 32.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(20,113</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" ALIGN="left" STYLE=
'text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 2.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="51" VALIGN="bottom" STYLE=
"width: 38.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 2.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
485</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'margin-left: 2.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&nbsp;</P>
</TD>
<TD WIDTH="43" VALIGN="bottom" STYLE=
"width: 32.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'margin-left: 2.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(3,945</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" ALIGN="left" STYLE=
'text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
)</P>
</TD>
</TR>
<TR>
<TD WIDTH="400" VALIGN="bottom" STYLE=
"width: 300.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Total provision for income taxes</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="43" VALIGN="bottom" STYLE=
"width: 32.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10,859</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="51" VALIGN="bottom" STYLE=
"width: 38.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
30,260</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="43" VALIGN="bottom" STYLE=
"width: 32.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
26,108</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
</TABLE>
<P CLASS="Textind" STYLE=
"margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; mso-style-name: Text_ind; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The tax effects of the principal temporary differences that give
rise to the Company&rsquo;s deferred tax assets are as follows as
of December 31, 2014 and 2015 (in thousands):</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="3" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
2014</P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="3" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
2015</P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Tuition receivable</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 2.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
3,439</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
3,908</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Other facility-related costs</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 2.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 2.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2,824</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2,538</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Employee-related liabilities</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'margin-left: 2.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'margin-left: 2.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(96</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" ALIGN="left" STYLE=
'text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 4.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 4.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Current net deferred tax asset</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 2.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 2.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
6,167</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 4.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 4.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
6,446</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Stock-based compensation</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 2.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 2.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
12,994</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
16,742</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Property and equipment</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"margin-left: 2.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"margin-left: 2.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(11,622</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(9,417</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Other facility-related costs</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 2.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 2.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
8,903</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
6,534</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Deferred revenue</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 2.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 2.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
3,758</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
4,267</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Deferred leasing costs</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 2.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 2.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2,797</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
2,825</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Interest rate swap</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"margin-left: 2.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"margin-left: 2.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(56</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&mdash;</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Other</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'margin-left: 2.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'margin-left: 2.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(533</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" ALIGN="left" STYLE=
'text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
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</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
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</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'margin-left: 4.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" STYLE=
'margin-left: 4.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(948</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1brack" ALIGN="left" STYLE=
'text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: "Tbody_rule1\(brack\)"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
)</P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Long-term net deferred tax asset</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 2.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 2.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
16,241</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 4.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: solid windowtext 1.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"margin-left: 4.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
20,003</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="464" VALIGN="bottom" STYLE=
"width: 348.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind2" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_2"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 30.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Net deferred tax asset</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"margin-left: 2.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
22,408</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" ALIGN="left" STYLE=
"text-align: left; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="48" VALIGN="bottom" STYLE=
"width: .5in; border: none; border-bottom: double windowtext 2.25pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
"margin-left: 4.0pt; line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule2; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
26,449</P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
</TABLE>
<P CLASS="Textind" STYLE=
"margin-top: 10.0pt; mso-style-name: Text_ind; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
As of December 31, 2014 and 2015, the Company&rsquo;s liabilities
for unrecognized tax benefits are included in income taxes payable
in the Consolidated Balance Sheets. Interest and penalties,
including those related to uncertain tax positions, are included in
the provision for income taxes in the Consolidated Statements of
Income. The Company recognized $0.1 million of benefits in 2014 and
$0.1 million of expense in 2015, related to interest and penalties.
The total amount of interest and penalties included in the
Consolidated Balance Sheets was $0.3 million and $0.2 million as of
December 31, 2014 and 2015, respectively.</P>
<P CLASS="Textind" STYLE=
"margin-top: 5.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; mso-style-name: Text_ind; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The following table summarizes changes in unrecognized tax
benefits, excluding interest and penalties, for the respective
periods (in thousands):</P>

<P CLASS="Textind" STYLE="margin: 5pt 0in 10pt; mso-style-name: Text_ind; text-indent: 20pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: bold 8pt TimesNewRomanPSStd-Bold; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 8pt TimesNewRomanPSStd-Bold; color: black; text-align: center; border-bottom: Black 1pt solid">Year Ended December 31,</TD><TD STYLE="font: bold 8pt TimesNewRomanPSStd-Bold; color: black; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: bold 8pt TimesNewRomanPSStd-Bold; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt TimesNewRomanPSStd-Bold; color: black; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD STYLE="font: bold 8pt TimesNewRomanPSStd-Bold; color: black; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: bold 8pt TimesNewRomanPSStd-Bold; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt TimesNewRomanPSStd-Bold; color: black; text-align: center; border-bottom: Black 1pt solid">2015</TD><TD STYLE="font: bold 8pt TimesNewRomanPSStd-Bold; color: black; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 74%; font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-left: 0in">Beginning unrecognized tax benefits</TD><TD STYLE="width: 1%; font: 10pt TimesNewRomanPSStd-Regular; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right">1,745</TD><TD STYLE="width: 1%; font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt TimesNewRomanPSStd-Regular; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right">2,936</TD><TD STYLE="width: 1%; font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-left: 0in">Additions based on tax positions taken in the current year</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right">2,085</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right">&mdash;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-left: 0in">Reductions for tax positions taken in prior years</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right">(565</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">)</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right">(2,431</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-left: 0in; padding-bottom: 1pt">Settlements with taxing authorities</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right; border-bottom: Black 1pt solid">(329</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-bottom: 1pt">)</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-left: 0in; padding-bottom: 2.5pt">Ending unrecognized tax benefits</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right; border-bottom: Black 2.5pt double">2,936</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: right; border-bottom: Black 2.5pt double">505</TD><TD STYLE="font: 10pt TimesNewRomanPSStd-Regular; color: black; text-align: left; padding-bottom: 2.5pt">&nbsp;</TD></TR>
</TABLE>

<P CLASS="Textind" STYLE=
"margin-top: 10.0pt; mso-style-name: Text_ind; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
It is reasonably possible that approximately $0.3 million of
unrecognized tax benefits will be reduced in the next twelve months
due to expiration of the applicable statutes of limitations. The
Company does not anticipate significant changes to other
unrecognized tax benefits.</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
74</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">STRAYER EDUCATION,
INC.</FONT></P>
<P CLASS="H1" STYLE=
"margin-top: 0in; mso-style-name: H1; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">NOTES TO CONSOLIDATED
FINANCIAL STATEMENTS</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
As of December 31, 2015, $0.5 million of the Company&rsquo;s total
unrecognized tax benefits would favorably affect the
Company&rsquo;s effective tax rate if recognized. If amounts
accrued are less than amounts ultimately assessed by taxing
authorities, the Company would record additional income tax
expense.</P>
<P CLASS="Textind" STYLE=
"margin-bottom: 10.0pt; mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
A reconciliation between the Company&rsquo;s statutory tax rate and
the effective tax rate for the years ended December 31, 2013, 2014,
and 2015 is as follows:</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="432" VALIGN="bottom" STYLE=
"width: 4.5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" COLSPAN="2" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
2013</P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" COLSPAN="2" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
2014</P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="48" COLSPAN="2" VALIGN="bottom" STYLE=
"width: .5in; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
2015</P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="432" VALIGN="bottom" STYLE=
"width: 4.5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Statutory federal rate</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="35" VALIGN="bottom" STYLE=
"width: 26.35pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
35.0</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="35" VALIGN="bottom" STYLE=
"width: 26.35pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
35.0</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="35" VALIGN="bottom" STYLE=
"width: 26.35pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
35.0</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodybracket" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_bracket; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
%</P>
</TD>
</TR>
<TR>
<TD WIDTH="432" VALIGN="bottom" STYLE=
"width: 4.5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">State income taxes, net of federal
benefits</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="35" VALIGN="bottom" STYLE=
"width: 26.35pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
4.6</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="35" VALIGN="bottom" STYLE=
"width: 26.35pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
4.2</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="35" VALIGN="bottom" STYLE=
"width: 26.35pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
4.2</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="432" VALIGN="bottom" STYLE=
"width: 4.5in; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Other</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="35" VALIGN="bottom" STYLE=
"width: 26.35pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
0.2</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="35" VALIGN="bottom" STYLE=
"width: 26.35pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
0.3</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="35" VALIGN="bottom" STYLE=
"width: 26.35pt; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
"line-height: normal; border: none; padding-bottom: 3px; mso-style-name: Tbody_rule1; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
0.3</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="432" VALIGN="bottom" STYLE=
"width: 4.5in; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Effective tax rate</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="35" VALIGN="bottom" STYLE=
"width: 26.35pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2brack" STYLE=
'line-height: normal; border: none; margin-bottom: .0001pt; padding-bottom: 3px; mso-style-name: "Tbody_rule2\(brack\)"; margin: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
39.8</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2brack" ALIGN="left" STYLE=
'text-align: left; line-height: normal; border: none; margin-bottom: .0001pt; padding-bottom: 3px; mso-style-name: "Tbody_rule2\(brack\)"; margin: 0in; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
%</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="35" VALIGN="bottom" STYLE=
"width: 26.35pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2brack" STYLE=
'line-height: normal; border: none; margin-bottom: .0001pt; padding-bottom: 3px; mso-style-name: "Tbody_rule2\(brack\)"; margin: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
39.5</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2brack" ALIGN="left" STYLE=
'text-align: left; line-height: normal; border: none; margin-bottom: .0001pt; padding-bottom: 3px; mso-style-name: "Tbody_rule2\(brack\)"; margin: 0in; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
%</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="35" VALIGN="bottom" STYLE=
"width: 26.35pt; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2brack" STYLE=
'line-height: normal; border: none; margin-bottom: .0001pt; padding-bottom: 3px; mso-style-name: "Tbody_rule2\(brack\)"; margin: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
39.5</P>
</TD>
<TD WIDTH="13" VALIGN="bottom" STYLE=
"width: 9.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2brack" ALIGN="left" STYLE=
'text-align: left; line-height: normal; border: none; margin-bottom: .0001pt; padding-bottom: 3px; mso-style-name: "Tbody_rule2\(brack\)"; margin: 0in; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
%</P>
</TD>
</TR>
</TABLE>
<P CLASS="Textind" STYLE=
"margin-top: 10.0pt; mso-style-name: Text_ind; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Cash payments for income taxes were $26.5 million, $30.8 million,
and $28.5 million in 2013, 2014, and 2015, respectively.</P>
<P CLASS="H2note" STYLE=
"mso-style-name: H2_note; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">13.</FONT><FONT CLASS=
"Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;</FONT>
Summarized Quarterly Financial Data (Unaudited)</FONT></P>
<P CLASS="Textind" STYLE=
"margin-bottom: 10.0pt; mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Quarterly financial information for 2014 and 2015 is as follows (in
thousands except per share data):</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="304" VALIGN="bottom" STYLE=
"width: 228.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="368" COLSPAN="17" VALIGN="bottom" STYLE=
"width: 276.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Quarter</P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="304" VALIGN="bottom" STYLE=
"width: 228.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="TCHleft" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 0pt; mso-style-name: TCH_left; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; padding: 0in; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><U><FONT LANG=
"EN-GB">2014</FONT></U></FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
First</P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Second</P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Third</P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Fourth</P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="304" VALIGN="bottom" STYLE=
"width: 228.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Revenues</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
116,468</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
112,747</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
100,756</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
116,070</P>
</TD>
</TR>
<TR>
<TD WIDTH="304" VALIGN="bottom" STYLE=
"width: 228.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Income from operations</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
25,909</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
23,998</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
9,216</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
22,624</P>
</TD>
</TR>
<TR>
<TD WIDTH="304" VALIGN="bottom" STYLE=
"width: 228.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Net income</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
14,783</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
13,677</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
4,953</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
12,943</P>
</TD>
</TR>
<TR>
<TD WIDTH="304" VALIGN="bottom" STYLE=
"width: 228.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Net income per share:</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="304" VALIGN="bottom" STYLE=
"width: 228.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Basic</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
1.40</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
1.29</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
0.47</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
1.22</P>
</TD>
</TR>
<TR>
<TD WIDTH="304" VALIGN="bottom" STYLE=
"width: 228.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Diluted</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
1.40</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
1.29</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
0.46</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
1.21</P>
</TD>
</TR>
</TABLE>
<P CLASS="Textind" STYLE=
"margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; mso-style-name: Text_ind; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT STYLE="font-size: 4.0pt;">&nbsp;</FONT></P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="304" VALIGN="bottom" STYLE=
"width: 228.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="368" COLSPAN="17" VALIGN="bottom" STYLE=
"width: 276.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Quarter</P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="304" VALIGN="bottom" STYLE=
"width: 228.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="TCHleft" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding-bottom: 0pt; mso-style-name: TCH_left; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; padding: 0in; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><U><FONT LANG=
"EN-GB">2015</FONT></U></FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
First</P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Second</P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Third</P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 48.0pt; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Fourth</P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="304" VALIGN="bottom" STYLE=
"width: 228.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Revenues</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
111,885</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
109,750</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
99,142</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
113,660</P>
</TD>
</TR>
<TR>
<TD WIDTH="304" VALIGN="bottom" STYLE=
"width: 228.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Income from operations</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
19,859</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
20,929</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
7,254</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
21,656</P>
</TD>
</TR>
<TR>
<TD WIDTH="304" VALIGN="bottom" STYLE=
"width: 228.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Net income</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
11,385</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
11,874</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
3,723</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&nbsp;</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
13,041</P>
</TD>
</TR>
<TR>
<TD WIDTH="304" VALIGN="bottom" STYLE=
"width: 228.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
"line-height: normal; padding-bottom: 3px; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Net income per share:</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="304" VALIGN="bottom" STYLE=
"width: 228.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Basic</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
1.08</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
1.12</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
0.35</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
1.23</P>
</TD>
</TR>
<TR>
<TD WIDTH="304" VALIGN="bottom" STYLE=
"width: 228.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Diluted</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
1.06</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
1.11</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 4.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
0.35</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="16" VALIGN="bottom" STYLE=
"width: 12.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
"text-align: left; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
$</P>
</TD>
<TD WIDTH="56" VALIGN="bottom" STYLE=
"width: 42.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" STYLE=
"margin-left: 1.0pt; line-height: normal; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: .0001pt; text-align: right; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
1.21</P>
</TD>
</TR>
</TABLE>
<P CLASS="H2note" STYLE=
"margin-top: 10.0pt; mso-style-name: H2_note; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">14.</FONT><FONT CLASS=
"Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;</FONT>
Litigation</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
From time to time, the Company is involved in litigation and other
legal proceedings arising out of the ordinary course of its
business. There are no pending material legal proceedings to which
the Company is subject or to which the Company&rsquo;s property is
subject.</P>
<P CLASS="H2note" STYLE=
"mso-style-name: H2_note; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">15.</FONT><FONT CLASS=
"Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;</FONT>
Regulation</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The Department of Education (the &ldquo;Department&rdquo;)
previously attempted to define &ldquo;an eligible program of
training to prepare students for gainful employment in a recognized
occupation.&rdquo; After a federal court invalidated the
Department&rsquo;s regulation, the Department established a
negotiated rulemaking committee to consider the issue of gainful
employment. The negotiations did not result in the required
consensus. On March 25, 2014, the Department issued a Notice of
Proposed Rulemaking for public comment, and on October 31, 2014,
the Department published the final regulation which became
effective on July 1, 2015.</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
75</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">STRAYER EDUCATION,
INC.</FONT></P>
<P CLASS="H1" STYLE=
"margin-top: 0in; mso-style-name: H1; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">NOTES TO CONSOLIDATED
FINANCIAL STATEMENTS</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The new requirements include two debt-to-earnings measures,
consisting of an annual income rate and a discretionary income
rate. The annual income rate measures student debt in relation to
earnings, and the discretionary income rate measures student debt
in relation to discretionary income. Under the new gainful
employment regulation, a program would pass if the program&rsquo;s
graduates:</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 13.0pt;">
&bull;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
have an annual income rate that does not exceed 8%;
<B><U><FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold;">or</FONT></U></B></P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 13.0pt;">
&bull;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
have a discretionary income rate that does not exceed 20%.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
In addition, a program that does not pass either of the
debt-to-earnings metrics, and that has an annual income rate
between 8% and 12%, or a discretionary income rate between 20% and
30%, would be considered to be in a warning zone. A program would
fail if the program&rsquo;s graduates have an annual income rate of
12% or greater and a discretionary income rate of 30% or greater. A
program would become Title IV-ineligible for three years if it
fails both metrics for two out of three consecutive years, or fails
to pass at least one metric for four consecutive award years.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
If an institution is notified by the Secretary that a program could
become ineligible, based on its final rates, for the next award
year:</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 13.0pt;">
&bull;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
The institution must provide a warning with respect to the program
to students and prospective students indicating, among other
things, that students may not be able to use Title IV funds to
attend or continue in the program; and</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 40.0pt; text-indent: -20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 13.0pt;">
&bull;</FONT></FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet; position: relative; top: 2.0pt;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT>
The institution must not enroll, register or enter into a financial
commitment with a prospective student until a specified time after
providing the warning to the prospective student.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The new regulation also requires institutions to report student and
program level data to the Department, and comply with additional
disclosure requirements beginning in January 2017.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
In addition, the gainful employment regulation required
institutions to certify by December 31, 2015, among other things,
that each eligible gainful employment program is programmatically
accredited if required by a federal governmental entity or a state
governmental entity in the state in which it is located or is
otherwise required to obtain state approval, and that the each
eligible program satisfies the applicable educational prerequisites
for professional licensure or certification requirements in each
state in which it is located or is otherwise required to obtain
state approval, so that a student who completes the program and
seeks employment in that state qualifies to take any licensure or
certification exam that is needed for the student to practice or
find employment in an occupation that the program prepares students
to enter. The Company timely made the required certification.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The requirements associated with the gainful employment regulations
may substantially increase the Company&rsquo;s administrative
burdens and could affect student enrollment, persistence and
retention. Further, although the regulations provide opportunities
for an institution to correct any potential deficiencies in a
program prior to the loss of Title IV eligibility, the continuing
eligibility of the Company&rsquo;s academic programs will be
affected by factors beyond management&rsquo;s control such as
changes in the Company&rsquo;s graduates&rsquo; income levels,
changes in student borrowing levels, increases in interest rates,
changes in the percentage of former students who are current in the
repayment of their student loans, and various other factors. Even
if the Company were able to correct any deficiency in the gainful
employment metrics in a timely manner, the disclosure requirements
associated with a program&rsquo;s failure to meet at least one
metric may adversely affect student enrollments in that program and
may adversely affect the reputation of the University.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Strayer University must comply with the campus safety and security
reporting requirements as well as other requirements in the Jeanne
Clery Disclosure of Campus Security Policy and Campus Crime
Statistics Act, or Clery Act, including recent changes made to the
Clery Act by the Violence Against Women Reauthorization Act of
2013, which was signed into law on March 7, 2013. On April 1, 2014,
a negotiated rulemaking committee reached consensus on proposed
regulations, and on October 20, 2014, the Department promulgated
regulations implementing the recent amendments to the Clery Act. In
addition, the Department has interpreted Title IX to categorize
sexual violence as a form of prohibited sex discrimination and to
require institutions to follow certain disciplinary procedures with
respect to such offenses. Failure to comply with the Clery Act or
Title IX requirements or regulations thereunder could result in
action by the Department to require correction action, fine the
Company</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
76</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">STRAYER EDUCATION,
INC.</FONT></P>
<P CLASS="H1" STYLE=
"margin-top: 0in; mso-style-name: H1; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">NOTES TO CONSOLIDATED
FINANCIAL STATEMENTS</FONT></P>
<P CLASS="Textind" STYLE=
"text-indent: 0in; mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
or limit or suspend its participation in Title IV programs, could
lead to litigation, and could harm the Company&rsquo;s reputation.
The Company is in compliance with these requirements.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Strayer University is subject to announced and unannounced
compliance reviews and audits by various external agencies,
including the Department, its Office of Inspector General, state
licensing agencies, and accrediting agencies. The Department
conducted four campus-based program reviews of Strayer University
campuses in three states and the District of Columbia, with one
on-site review conducted August 18-20, 2014; one on-site review
conducted September 8-11, 2014; and two on-site reviews conducted
September 22-26, 2014. The reviews covered federal financial aid
years 2012-2013 and 2013-2014, and two of the reviews also covered
compliance with the Jeanne Clery Disclosure of Campus Security
Policy and Campus Crime Statistics Act, the Drug-Free Schools and
Communities Act, and regulations related thereto. On October 21,
2014, the Department issued an Expedited Final Program Review
Determination Letter for one of the program reviews conducted the
week of September 22, 2014, closing the program review with no
further action required by the Company. On November 17, 2014, the
Company received a Program Review Report for the program review
conducted in August 2014, and provided a response to the Department
on December 15, 2014. On January 7, 2015, the Company received a
Final Program Review Determination letter from that review, closing
the review with no further action required by the Company. On March
24, 2015, the Company received a Program Review Report for another
program review, and provided a response to the Department on April
21, 2015. On April 29, 2015, the Company received a Final Program
Review Determination Letter closing the review and identifying a
payment of less than $500 due to the Department of Education based
on an underpayment on a return to Title IV calculation. The Company
remitted payment, and received a letter from the Department on May
26, 2015, indicating that no further action was required and that
the matter was closed. On September 15, 2015, the Company received
a Program Review report for the final program review, and provided
a response to the Department on October 5, 2015. On January 5, 2016
the Company received a Final Program Review Determination letter
for the final program review, indicating that the program review
was closed and no further action was required.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Each institution participating in Title IV programs must enter into
a Program Participation Agreement with the Department. Under the
agreement, the institution agrees to follow the Department&rsquo;s
rules and regulations governing Title IV programs. On October 1,
2014, Strayer University received an executed provisional Program
Participation Agreement from the Department allowing it to
participate in Title IV programs until June 30, 2017. The Program
Participation Agreement was issued on a provisional basis because
of the Department&rsquo;s program reviews open at the time of
issuance. Under the provisional agreement, the only material
additional condition that the University must comply with is
obtaining Department approval for substantial changes, including
the addition of any new location, level of academic offering,
non-degree program, or degree program.</P>
<P CLASS="H2note" STYLE=
"mso-style-name: H2_note; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -20.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">16.</FONT><FONT CLASS=
"Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE="font-size: 8.5pt;">&nbsp;&nbsp;</FONT>
Subsequent Event</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
On January 13, 2016, the Company acquired all of the outstanding
shares of the New York Code and Design Academy, a provider of
non-degree web and mobile app development courses. NYCDA will
operate as a wholly owned subsidiary of the Company, and will
maintain its current headquarters and management team based in New
York City. The purchase price includes $7.0 million paid up front
in cash, plus an additional contingent cash payment of up to $18.0
million based on the achievement of certain performance objectives
including NYCDA&rsquo;s future revenue and results of operations
for the five-year period ending December 31, 2020. NYCDA&rsquo;s
operating results will be included in the Company&rsquo;s
consolidated financial statements from the date of the
acquisition.</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
77</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Item
9.</FONT><FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
Changes in and Disagreements With Accountants on Accounting and
Financial Disclosure</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
None.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Item
9A.</FONT><FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;</FONT> Controls and
Procedures</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The Company&rsquo;s Chief Executive Officer and Chief Financial
Officer have evaluated the effectiveness of the Company&rsquo;s
disclosure controls and procedures as of December 31, 2015. Based
upon such review, the Chief Executive Officer and Chief Financial
Officer have concluded that the Company had in place, as of
December 31, 2015, effective controls and procedures designed to
ensure that information required to be disclosed by the Company
(including consolidated subsidiaries) in the reports it files or
submits under the Securities Exchange Act of 1934, as amended, and
the rules thereunder, is recorded, processed, summarized and
reported within the time periods specified in the
Commission&rsquo;s rules and forms. Disclosure controls and
procedures include, without limitation, controls and procedures
designed to ensure that information required to be disclosed by an
issuer in reports it files or submits under the Securities Exchange
Act is accumulated and communicated to the Company&rsquo;s
management, including its principal executive officer or officers
and principal financial officer or officers, or persons performing
similar functions, as appropriate to allow timely decisions
regarding required disclosure.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Management&rsquo;s
Report on Internal Control Over Financial Reporting</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The Company&rsquo;s management is responsible for establishing and
maintaining adequate internal control over financial reporting, as
such term is defined in Exchange Act Rule 13a-15(f). A
company&rsquo;s internal control over financial reporting is a
process designed to provide reasonable assurance regarding the
reliability of financial reporting and the preparation of financial
statements for external purposes in accordance with generally
accepted accounting principles. A company&rsquo;s internal control
over financial reporting includes those policies and procedures
that (i) pertain to the maintenance of records that, in reasonable
detail, accurately and fairly reflect the transactions and
dispositions of the assets of the company; (ii) provide reasonable
assurance that transactions are recorded as necessary to permit
preparation of financial statements in accordance with generally
accepted accounting principles, and that receipts and expenditures
are being made only in accordance with authorizations of management
and directors of the company; and (iii) provide reasonable
assurance regarding prevention or timely detection of unauthorized
acquisition, use or disposition of the company&rsquo;s assets that
could have a material effect on the financial statements.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Because of its inherent limitations, internal control over
financial reporting may not prevent or detect misstatements. Also,
projections of any evaluation of effectiveness to future periods
are subject to the risk that controls may become inadequate because
of changes in conditions, or that the degree of compliance with the
policies or procedures may deteriorate.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Under the supervision and with the participation of the
Company&rsquo;s principal executive officer and principal financial
officer, the Company&rsquo;s management assessed the effectiveness
of the registrant&rsquo;s internal control over financial reporting
as of December 31, 2015, based on the framework in <FONT CLASS=
"Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Internal Control
&mdash; Integrated Framework</FONT> (2013) issued by the Committee
of Sponsoring Organizations of the Treadway Commission. Based on
our assessment under the framework in <FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Internal Control
&mdash; Integrated Framework</FONT>, our management concluded that
our internal control over financial reporting was effective as of
December 31, 2015.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The effectiveness of the Company&rsquo;s internal control over
financial reporting as of December 31, 2015 has been audited by
PricewaterhouseCoopers LLP, an independent registered public
accounting firm, as stated in their report which appears
herein.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Changes in Internal
Controls over Financial Reporting</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The Company&rsquo;s Chief Executive Officer and Chief Financial
Officer have evaluated any changes in the Company&rsquo;s internal
control over financial reporting that occurred during the quarter
ended December 31, 2015, and have concluded that there was no
change during such quarter that has materially affected, or is
reasonably likely to materially affect, the Company&rsquo;s
internal control over financial reporting.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Item
9B.</FONT><FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;</FONT> Other
Information</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
None</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
78</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">PART III</FONT></P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Item
10.</FONT><FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
Directors, Executive Officers and Corporate Governance</FONT></P>
<P CLASS="Textind" STYLE=
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The following table sets forth certain information with respect to
the Company&rsquo;s directors, executive officers, and significant
employees:</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
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<TR>
<TD WIDTH="240" VALIGN="bottom" STYLE=
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<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">Name</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="32" VALIGN="bottom" STYLE=
"width: 24.0pt; padding: 0in 0in 0in 0in;">
<DIV STYLE=
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<P CLASS="TCH" STYLE=
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<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">Age</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">Position</FONT></FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="240" VALIGN="bottom" STYLE=
"width: 2.5in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="32" VALIGN="bottom" STYLE=
"width: 24.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="240" VALIGN="bottom" STYLE=
"width: 2.5in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">Directors:</FONT></FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="32" VALIGN="bottom" STYLE=
"width: 24.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="240" VALIGN="bottom" STYLE=
"width: 2.5in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="32" VALIGN="bottom" STYLE=
"width: 24.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="240" VALIGN="bottom" STYLE=
"width: 2.5in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Robert S. Silberman</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="32" VALIGN="bottom" STYLE=
"width: 24.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
58</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Executive Chairman of the Board</P>
</TD>
</TR>
<TR>
<TD WIDTH="240" VALIGN="bottom" STYLE=
"width: 2.5in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="32" VALIGN="bottom" STYLE=
"width: 24.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="240" VALIGN="bottom" STYLE=
"width: 2.5in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Dr. John T. Casteen III</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="32" VALIGN="bottom" STYLE=
"width: 24.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
72</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Presiding Independent Director</P>
</TD>
</TR>
<TR>
<TD WIDTH="240" VALIGN="bottom" STYLE=
"width: 2.5in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="32" VALIGN="bottom" STYLE=
"width: 24.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="240" VALIGN="bottom" STYLE=
"width: 2.5in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Dr. Charlotte F. Beason</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="32" VALIGN="bottom" STYLE=
"width: 24.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
68</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Director</P>
</TD>
</TR>
<TR>
<TD WIDTH="240" VALIGN="bottom" STYLE=
"width: 2.5in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="32" VALIGN="bottom" STYLE=
"width: 24.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="240" VALIGN="bottom" STYLE=
"width: 2.5in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
William E. Brock</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="32" VALIGN="bottom" STYLE=
"width: 24.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
85</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Director</P>
</TD>
</TR>
<TR>
<TD WIDTH="240" VALIGN="bottom" STYLE=
"width: 2.5in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="32" VALIGN="bottom" STYLE=
"width: 24.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="240" VALIGN="bottom" STYLE=
"width: 2.5in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Robert R. Grusky</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="32" VALIGN="bottom" STYLE=
"width: 24.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
58</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Director</P>
</TD>
</TR>
<TR>
<TD WIDTH="240" VALIGN="bottom" STYLE=
"width: 2.5in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="32" VALIGN="bottom" STYLE=
"width: 24.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="240" VALIGN="bottom" STYLE=
"width: 2.5in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Robert L. Johnson</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="32" VALIGN="bottom" STYLE=
"width: 24.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
69</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Director</P>
</TD>
</TR>
<TR>
<TD WIDTH="240" VALIGN="bottom" STYLE=
"width: 2.5in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="32" VALIGN="bottom" STYLE=
"width: 24.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="240" VALIGN="bottom" STYLE=
"width: 2.5in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Karl McDonnell</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="32" VALIGN="bottom" STYLE=
"width: 24.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
49</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Director, Chief Executive Officer</P>
</TD>
</TR>
<TR>
<TD WIDTH="240" VALIGN="bottom" STYLE=
"width: 2.5in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="32" VALIGN="bottom" STYLE=
"width: 24.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="240" VALIGN="bottom" STYLE=
"width: 2.5in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Todd A. Milano</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="32" VALIGN="bottom" STYLE=
"width: 24.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
63</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Director</P>
</TD>
</TR>
<TR>
<TD WIDTH="240" VALIGN="bottom" STYLE=
"width: 2.5in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="32" VALIGN="bottom" STYLE=
"width: 24.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="240" VALIGN="bottom" STYLE=
"width: 2.5in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
G. Thomas Waite, III</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="32" VALIGN="bottom" STYLE=
"width: 24.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
64</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Director</P>
</TD>
</TR>
<TR>
<TD WIDTH="240" VALIGN="bottom" STYLE=
"width: 2.5in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="32" VALIGN="bottom" STYLE=
"width: 24.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="240" VALIGN="bottom" STYLE=
"width: 2.5in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
J. David Wargo</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="32" VALIGN="bottom" STYLE=
"width: 24.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
62</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Director</P>
</TD>
</TR>
<TR>
<TD WIDTH="240" VALIGN="bottom" STYLE=
"width: 2.5in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="32" VALIGN="bottom" STYLE=
"width: 24.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="240" VALIGN="bottom" STYLE=
"width: 2.5in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">Executive Officers:</FONT></FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="32" VALIGN="bottom" STYLE=
"width: 24.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="240" VALIGN="bottom" STYLE=
"width: 2.5in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="32" VALIGN="bottom" STYLE=
"width: 24.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="240" VALIGN="bottom" STYLE=
"width: 2.5in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Daniel W. Jackson</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="32" VALIGN="bottom" STYLE=
"width: 24.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
41</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Executive Vice President and Chief Financial
Officer</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="240" VALIGN="bottom" STYLE=
"width: 2.5in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="32" VALIGN="bottom" STYLE=
"width: 24.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="240" VALIGN="bottom" STYLE=
"width: 2.5in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Kelly J. Bozarth</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="32" VALIGN="bottom" STYLE=
"width: 24.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
47</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="352" VALIGN="bottom" STYLE=
"width: 264.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Executive Vice President,
Strayer@Work</FONT></P>
</TD>
</TR>
<TR>
<TD STYLE="padding: 0in; vertical-align: bottom; width: 2.5in"></TD>
<TD STYLE="padding: 0in; vertical-align: bottom; width: 8pt">&nbsp;</TD>
<TD STYLE="padding: 0in; vertical-align: bottom; width: 24pt">&nbsp;</TD>
<TD STYLE="padding: 0in; vertical-align: bottom; width: 8pt">&nbsp;</TD>
<TD STYLE="padding: 0in; vertical-align: bottom; width: 264pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR>
<TD STYLE="padding: 0in; vertical-align: bottom; width: 2.5in"><P STYLE="margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>University
                                         Officers:</B></FONT></P>


</TD>
<TD STYLE="padding: 0in; vertical-align: bottom; width: 8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0in; vertical-align: bottom; width: 24pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0in; vertical-align: bottom; width: 8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0in; vertical-align: bottom; width: 264pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR>
<TD STYLE="padding: 0in; vertical-align: bottom"><P STYLE="margin: 0"></P>


</TD>
<TD STYLE="padding: 0in; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0in; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0in; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0in; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR>
<TD STYLE="padding: 0in; vertical-align: bottom"><P STYLE="margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Brian
                                         W. Jones</FONT></P>


</TD>
<TD STYLE="padding: 0in; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0in; vertical-align: bottom; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">47</FONT></TD>
<TD STYLE="padding: 0in; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0in; vertical-align: bottom"><P STYLE="margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">President,
                                         Strayer University</FONT></P>


</TD></TR>
<TR>
<TD STYLE="padding: 0in; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0in; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0in; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0in; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0in; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR>
<TD STYLE="padding: 0in; vertical-align: bottom"><P STYLE="margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Rosemary
                                         J. Rose</FONT></P>


</TD>
<TD STYLE="padding: 0in; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0in; vertical-align: bottom; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">55</FONT></TD>
<TD STYLE="padding: 0in; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0in; vertical-align: bottom"><P STYLE="margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Chief
                                         Operating Officer, Strayer University</FONT></P>


</TD></TR>
<TR>
<TD STYLE="padding: 0in; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0in; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0in; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0in; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0in; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR>
<TD STYLE="padding: 0in; vertical-align: bottom"><P STYLE="margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Andrea
                                         S. Backman</FONT></P>


</TD>
<TD STYLE="padding: 0in; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0in; vertical-align: bottom; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">46</FONT></TD>
<TD STYLE="padding: 0in; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0in; vertical-align: bottom"><P STYLE="margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Provost
                                         and Chief Academic Officer</FONT></P>


</TD></TR>
</TABLE>
<P CLASS="H2" STYLE=
"margin-top: 10.0pt; mso-style-name: H2; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Directors</FONT></P>
<P CLASS="Textind" STYLE=
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<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Mr. Robert S.
Silberman</FONT> was named Strayer&rsquo;s Executive Chairman of
the Board in 2013. He was Chairman of the Board from February 2003
to 2013 and Chief Executive Officer from March 2001 to 2013. From
1995 to 2000, Mr. Silberman served in a variety of senior
management positions at CalEnergy Company, Inc., including as
President and Chief Operating Officer. From 1993 to 1995, Mr.
Silberman was Assistant to the Chairman and Chief Executive Officer
of International Paper Company. From 1989 to 1993, Mr. Silberman
served in several senior positions in the U.S. Department of
Defense, including as Assistant Secretary of the Army. Mr.
Silberman has been a Director of Strayer since March 2001. He
serves on the Board of Directors of Twenty-First Century Fox, Inc.,
Covanta Holding Company, and Par Pacific Holdings. Mr. Silberman is
a member of the Council on Foreign Relations. Mr. Silberman holds a
bachelor&rsquo;s degree in history from Dartmouth College and a
master&rsquo;s degree in international policy from The Johns
Hopkins University.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Dr. John T. Casteen
III</FONT> is the President Emeritus and University Professor at
the University of Virginia, where he teaches courses in literature,
intellectual history, and public policy. He served as President of
the University of Virginia from 1990 through 2010. He was President
of the University of Connecticut from 1985 to 1990. From 1982 to
1985, Dr. Casteen served as the Secretary of Education for the
Commonwealth of Virginia. Dr. Casteen is on the board of directors
of Altria, Inc., and served on the board of directors of Wachovia
Corporation until 2008. Dr. Casteen also is director of a number of
charitable and privately-held business entities, including ECHO
360, the Woodrow Wilson International Center for Scholars, and the
Jamestown-Yorktown Foundation. He has chaired the boards of both
the College Entrance Examination Board and the Association of
American Universities. Dr. Casteen has been a member of the Board
since 2011, is Chair of the Nominating Committee of the Board, and
currently</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
79</P>
<P CLASS="Textind" STYLE=
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serves as the Presiding Independent Director. Dr. Casteen holds a
bachelor&rsquo;s degree, master&rsquo;s degree and a Ph.D. in
English from the University of Virginia, as well as several
honorary degrees, including degrees from the Universities of Athens
(Greece) and Edinburgh (Scotland) and two community colleges in
Virginia.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Dr. Charlotte F.
Beason</FONT> is a consultant in education and health care
administration, as she was from 2004 to 2005. She was Executive
Director of the Kentucky Board of Nursing from 2005 to 2012. From
2000 to 2003, Dr. Beason was Chair and Vice Chair of the Commission
on Collegiate Nursing Education (an autonomous agency accrediting
baccalaureate and graduate programs in nursing); she is an
evaluator for the Commission on Collegiate Nursing Education. From
1988 to 2004, Dr. Beason was with the Department of Veterans
Affairs, first as Director of Health Professions Education Service
and the Health Professional Scholarship Program, and then as
Program Director, Office of Nursing Services. Dr. Beason has served
on the Board since 1996 and is a member of the Nominating Committee
of the Board. She is also Chairwoman of the Strayer University
Board of Trustees. Dr. Beason holds a bachelor&rsquo;s degree in
nursing from Berea College, a master&rsquo;s degree in psychiatric
nursing from Boston University and a doctorate in clinical
psychology and public practice from Harvard University.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Senator William E.
Brock</FONT> is the Founder and Chairman of the Brock Offices, a
firm specializing in international trade, investment and human
resources. From 1985 to 1987, Senator Brock served in the
President&rsquo;s Cabinet as the U.S. Secretary of Labor, and from
1981 to 1985, as the U.S. Trade Representative. Senator Brock
previously served as a Member of Congress and subsequently as U.S.
Senator for the State of Tennessee. Senator Brock is a member of
the Board of Directors of On Assignment, Inc., and ResCare, Inc.,
and is a Senior Counselor and Member of the Board of Trustees of
the Center for Strategic and International Studies, where he chairs
the International Policy Roundtable. Senator Brock has been a
member of the Board since 2001 and is a member of the Compensation
Committee of the Board. He holds a bachelor&rsquo;s degree in
commerce from Washington and Lee University.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Mr. Robert R.
Grusky</FONT> is a member of Strayer Education, Inc. Board of
Directors, on which he has served since 2001. He is the Founder and
Managing Member of Hope Capital Management, LLC, an investment
manager, since 2000. He co-founded New Mountain Capital, LLC, a
private equity firm, in 2000 and was a Principal and Member from
2000 to 2005, and has been a Senior Advisor since then. From 1998
to 2000, Mr. Grusky served as President of RSL Investments
Corporation. From 1985 to 1997, with the exception of 1990 to 1991
when he was on a leave of absence to serve as a White House Fellow
and Assistant for Special Projects to the Secretary of Defense, Mr.
Grusky served in a variety of capacities at Goldman, Sachs &amp;
Co., first in its Mergers &amp; Acquisitions Department and then in
its Principal Investment Area. He also serves on the Board of
Directors of AutoNation, Inc. In the past five years, he has also
served on the Board of Directors of AutoZone, Inc. He is a member
of the Company&rsquo;s Audit Committee. He holds a bachelor&rsquo;s
degree in history from Union College and a master&rsquo;s degree in
business administration from Harvard University.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Mr. Robert L.
Johnson</FONT> is the Founder and Chairman of The RLJ Companies, an
innovative business network that owns or holds interests in
businesses operating in hotel real estate investment, private
equity, consumer financial services, asset management, automobile
dealerships, sports and entertainment, and video lottery terminal
(VLT) gaming. Mr. Johnson is the founder of Black Entertainment
Television (BET), a subsidiary of Viacom and the leading
African-American operated media and entertainment company in the
United States, and served as its Chief Executive Officer until
January 2006. In 2002, Mr. Johnson became the first
African-American majority owner of a major sports franchise, the
Charlotte Bobcats of the NBA. From 1976 to 1979, he served as Vice
President of Governmental Relations for the National Cable &amp;
Telecommunications Association (NCTA). Mr. Johnson also served as
Press Secretary for the Honorable Walter E. Fauntroy, Congressional
Delegate from the District of Columbia. He serves on the following
boards: RLJ Lodging Trust; RLJ Entertainment, Inc.; KB Home;
Lowe&rsquo;s Companies, Inc.; Elevate Credit, Inc.; The Business
Council; and the Smithsonian Institution&rsquo;s National Museum of
African American History and Culture. Mr. Johnson has served on the
Board since 2003, and is a member of the Compensation Committee of
the Board. He holds a bachelor&rsquo;s degree in social studies
from the University of Illinois and a master&rsquo;s degree in
public affairs from the Woodrow Wilson School of Public and
International Affairs at Princeton University.</P>
<P CLASS="Textind" STYLE=
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<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Mr. Karl
McDonnell</FONT> was named Strayer&rsquo;s Chief Executive Officer
in May 2013. He was President and Chief Operating Officer from 2006
to 2013. Mr. McDonnell served as Chief Operating Officer of
InteliStaf Healthcare, Inc., one of the nation&rsquo;s largest
privately-held healthcare staffing firms. Prior to his tenure at
InteliStaf, he served as Vice President of the Investment Banking
Division at Goldman, Sachs &amp; Co. Mr. McDonnell has held senior
management positions with several Fortune 100 companies, including
The Walt Disney Company. He has</P>
<P CLASS="LRH" STYLE=
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80</P>
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served on the Board since 2011 and from 2006 to 2013 was a member
of the Strayer University Board of Trustees. Mr. McDonnell holds a
bachelor&rsquo;s degree from Virginia Wesleyan College and a
master&rsquo;s degree in business administration from Duke
University.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Mr. Todd A.
Milano</FONT> is President Emeritus and Ambassador for Central Penn
College, where he served as President and Chief Executive Officer
from 1989 to 2012. Mr. Milano has served on the Board since 1996
and is a member of the Audit Committee of the Board and is also a
member of the Strayer University Board of Trustees. Mr. Milano
holds a bachelor&rsquo;s degree in industrial management from
Purdue University.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Mr. G. Thomas Waite,
III</FONT> has been Treasurer and Chief Financial Officer of the
Humane Society of the United States since 1997 and prior to that
served as Controller beginning in 1993. In 1992, Mr. Waite was the
Director of Commercial Management of The National Housing
Partnership. Mr. Waite has served on the Board since 1996, is Chair
of the Audit Committee of the Board and is a former member of the
Strayer University Board of Trustees. Mr. Waite holds a
bachelor&rsquo;s degree in commerce from the University of Virginia
and is a Certified Public Accountant.</P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">Mr. J. David
Wargo</FONT> has been President of Wargo and Company, Inc., an
investment management company, since 1993. Mr. Wargo is a
co-founder and was a Member of New Mountain Capital, LLC, from 2000
to 2008, and was a Senior Advisor there from 2008 until 2011. From
1989 to 1992, Mr. Wargo was a Managing Director and Senior Analyst
of The Putnam Companies, a Boston-based investment management
company. From 1985 to 1989, Mr. Wargo was a partner and held other
positions at Marble Arch Partners. Mr. Wargo is also a Director of
Liberty Global, Inc., Liberty Broadband Corporation, Discovery
Communications, Inc., and Liberty TripAdvisor Holdings, Inc. Mr.
Wargo has served on the Board since 2001 and is Chair of the
Compensation Committee of the Board. Mr. Wargo holds a
bachelor&rsquo;s degree in physics and a master&rsquo;s degree in
nuclear engineering, both from the Massachusetts Institute of
Technology. He also holds a master&rsquo;s degree in management
science from the Sloan School of Management, which is the business
school of the Massachusetts Institute of Technology.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Executive
Officers</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;"><I>Mr.
Daniel W. Jackson</I> is Executive Vice President and Chief Financial Officer. Mr. Jackson has been with the company since 2003
and has served as Senior Vice President of Finance, Regional Vice President of Operations, Director of Business Operations, Campus
Director, and as Manager of Financial Analysis. Prior to joining Strayer, Mr. Jackson was an Equity Research Associate with Legg
Mason Wood Walker, and Director of Operations for Fairmont Schools, Inc. Mr. Jackson holds a bachelor&rsquo;s degree in international
affairs from the University of Colorado at Boulder, and a master&rsquo;s degree in business administration from Georgetown University.</P>

<P CLASS="Textind" STYLE="mso-style-name: Text_ind; margin: 6pt 0in 0pt; text-indent: 20pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black"><I>Ms.
Kelly J. Bozarth</I> is Executive Vice President, Strayer@Work. She joined Strayer in 2008 and has served as Senior Vice President
and Chief Business Officer of Strayer University, and as Senior Vice President and Controller of the Company. Previously, Ms.
Bozarth held senior management roles in finance and operations in the education sector for five years. Prior to that, she held
a variety of senior management positions in finance and in operations with The Walt Disney Company over a 10 year period. Ms.
Bozarth is a Certified Public Accountant who began her career at Deloitte and Touche. Ms. Bozarth holds a bachelor&rsquo;s degree
in accounting from Missouri State University and a master&rsquo;s degree in business administration from Pepperdine University.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 6pt 0 0"><B>University Officers</B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 20pt"><I>Mr. Brian W. Jones</I> is the University
President. Mr. Jones joined Strayer University in 2012 as the General Counsel. Prior to joining Strayer University, he co-founded
and served as president of Latimer Education, Inc., a venture-backed company partnering with a historically black college to provide
online postsecondary education solutions to African American working adults. He previously served for four years as the U.S. Department
of Education&rsquo;s general counsel, a Senate-confirmed presidential appointment, under former Secretary of Education Rod Paige;
among other senior higher education roles. Jones currently chairs the board of the National Alliance for Public Charter Schools.
He previously served as chair of the D.C. Public Charter School Board (PCSB), having been twice nominated by the U.S. Secretary
of Education and appointed by the Mayor of the District of Columbia. Mr. Jones holds a bachelor&rsquo;s degree in business administration
from Georgetown University and a juris doctor degree from the University of California at Los Angeles (UCLA) School of Law.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 20pt"><I>Ms. Rosemary J. Rose</I> is Executive
Vice President and University Chief Operating Officer. Ms. Rose joined Strayer in 2009. Previously, over an eleven year period,
Ms. Rose held senior management positions with The Walt Disney Company including Vice President of Food and Beverage and Merchandise
Operations and Vice President of Disney University&rsquo;s Operations Learning and Development for Walt Disney World. During this
time, she had responsibility for the lines of business for Food and Beverage and Merchandise for all Walt Disney parks and resorts
worldwide. Prior to Disney, Ms. Rose held a variety of senior management positions at Darden Restaurants and the General Mills
Restaurant Group. She also held positions with Automatic Data Processing and Barnett Banks. She holds a bachelor&rsquo;s degree
in finance and master&rsquo;s degree in business administration from the University of Central Florida.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 20pt"><I>Ms. Andrea S. Backman</I> is Provost
and Chief Academic Officer. Ms. Backman most recently served as Dean of the Jack Welch Management Institute where she was responsible
for all academic matters including faculty on-boarding and performance management, product design and development and the overall
student experience. Prior to joining JWMI, Ms. Backman served as a faculty member and online leader at the University of Virginia.
She also served as Senior Vice Provost for Faculty at Strayer University, Director of New Program Development at the University
of Virginia and Associate Director for Distance Education at DePaul University. Prior to her work in academia, she worked in industry
in both marketing and research functions. She holds a PhD from the University of Virginia, a master&rsquo;s degree from DePaul
University and an undergraduate degree from the Pennsylvania State University.</P>
<P CLASS="RRH" STYLE=
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81</P>
<P CLASS="Textind" STYLE=
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<P CLASS="Textind" STYLE=
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Additional information responsive to this item is hereby
incorporated by reference from the sections titled &ldquo;Election
of Directors,&rdquo; &ldquo;Board Structure,&rdquo; &ldquo;Code of
Ethics&rdquo; and &ldquo;Section 16(a) Beneficial Ownership
Reporting Compliance&rdquo; contained in the Company&rsquo;s Proxy
Statement, which will be filed no later than 120 days following
December 31, 2015.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Item
11.</FONT><FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;</FONT> Executive
Compensation</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The information required by this Item is hereby incorporated by
reference from the sections entitled &ldquo;Compensation Discussion
and Analysis&rdquo; and the related tables and narrative thereto,
&ldquo;Director Compensation&rdquo; and the related tables thereto,
&ldquo;Compensation Committee Interlocks and Insider
Participation&rdquo; and &ldquo;Compensation Committee
Report&rdquo; to be contained in the Company&rsquo;s Proxy
Statement, which will be filed no later than 120 days following
December 31, 2015.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Item
12.</FONT><FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;</FONT> Security
Ownership of Certain Beneficial Owners and Management</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The information required by this Item is hereby incorporated by
reference from the section entitled &ldquo;Beneficial Ownership of
Common Stock&rdquo; and &ldquo;Securities Authorized for Issuance
Under Equity Compensation Plans&rdquo; to be contained in the
Company&rsquo;s Proxy Statement, which will be filed no later than
120 days following December 31, 2015.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Item
13.</FONT><FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;</FONT> Certain
Relationships and Related Transactions</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The information required by this Item is hereby incorporated by
reference from the sections entitled &ldquo;Board Structure&rdquo;
and &ldquo;Certain Transactions with Related Parties&rdquo; to be
contained in the Company&rsquo;s Proxy Statement, which will be
filed no later than 120 days following December 31, 2015.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Item
14.</FONT><FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;</FONT> Principal
Accounting Fees and Services</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The information required by this Item is hereby incorporated by
reference from the section entitled &ldquo;Proposal 2 &mdash;
Ratification of Appointment of Independent Registered Public
Accounting Firm&rdquo; to be contained in the Company&rsquo;s Proxy
Statement, which will be filed no later than 120 days following
December 31, 2015.</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
82</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">PART IV</FONT></P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Item
15.</FONT><FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;</FONT> Exhibits and
Financial Statement Schedules</FONT></P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">(A)(1) Financial
Statements</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
All required financial statements of the registrant are set forth
under Item 8 of this report on Form 10-K.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">(A)(2) Financial
Statement Schedule</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
All financial statement schedules are omitted because they are not
applicable or the required information is included in the
consolidated financial statements or notes thereto.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">(A)(3)
Exhibits</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The exhibits required to be filed as a part of this Annual Report
on Form 10-K are listed in the Exhibit Index attached hereto and
are incorporated herein by reference.</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
83</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">SIGNATURES</FONT></P>
<P CLASS="Textind" STYLE=
"margin-bottom: 10.0pt; mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the registrant has duly caused
this Report to be signed on its behalf by the undersigned,
thereunto duly authorized.</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="312" VALIGN="bottom" STYLE=
"width: 3.25in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="323" COLSPAN="3" VALIGN="bottom" STYLE=
"width: 242.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
STRAYER EDUCATION, INC.</P>
</TD>
</TR>
<TR>
<TD WIDTH="312" VALIGN="bottom" STYLE=
"width: 3.25in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="24" VALIGN="bottom" STYLE=
"width: .25in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="288" VALIGN="bottom" STYLE=
"width: 3.0in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="312" VALIGN="bottom" STYLE=
"width: 3.25in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="24" VALIGN="bottom" STYLE=
"width: .25in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
By:</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="288" VALIGN="bottom" STYLE=
"width: 3.0in; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Signaturerule" STYLE=
"line-height: normal; border: none; mso-style-name: Signature_rule; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
/s/ Karl McDonnell</P>
</TD>
</TR>
<TR>
<TD WIDTH="312" VALIGN="bottom" STYLE=
"width: 3.25in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="24" VALIGN="bottom" STYLE=
"width: .25in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="288" VALIGN="bottom" STYLE=
"width: 3.0in; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Karl McDonnell</P>
</TD>
</TR>
<TR>
<TD WIDTH="312" VALIGN="bottom" STYLE=
"width: 3.25in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="24" VALIGN="bottom" STYLE=
"width: .25in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="288" VALIGN="bottom" STYLE=
"width: 3.0in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Chief Executive Officer</P>
</TD>
</TR>
</TABLE>
<P CLASS="Textflush" STYLE=
"margin-top: 10.0pt; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Date: February 19, 2016</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
84</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">POWER OF
ATTORNEY</FONT></P>
<P CLASS="Textind" STYLE=
"mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
KNOW ALL MEN BY THESE PRESENTS, that each person whose signature
appears below constitutes and appoints Karl McDonnell and Daniel W.
Jackson, and each of them individually, as his true and lawful
attorneys-in-fact and agents, with full power of substitution and
resubstitution, for him and his name, place and stead in any and
all capacities, to sign the report and any and all amendments to
this report, and to file the same, with all exhibits thereto, and
other documents in connection therewith, with the Securities and
Exchange Commission, granting unto said attorneys-in-fact and
agents, full power and authority to perform each and every act and
thing requisite and necessary to be done in and about the premises,
as fully to all intents and purposes as he might or could do in
person, hereby ratifying and confirming all that said
attorneys-in-fact and agents, or their substitutes, may lawfully do
or cause to be done by virtue thereof.</P>
<P CLASS="Textind" STYLE=
"margin-bottom: 10.0pt; mso-style-name: Text_ind; margin-top: 6.0pt; margin-right: 0in; margin-left: 0in; text-indent: 20.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Pursuant to the requirements of the Securities Exchange Act of
1934, this Report has been signed below by the following persons on
behalf of the registrant in the capacities and on the date
indicated.</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">SIGNATURES</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">TITLE</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="128" VALIGN="bottom" STYLE=
"width: 96.0pt; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;"><FONT LANG=
"EN-GB">DATE</FONT></FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="128" VALIGN="bottom" STYLE=
"width: 96.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Signaturerule" ALIGN="center" STYLE=
"text-align: center; line-height: normal; border: none; mso-style-name: Signature_rule; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
/s/ Robert S. Silberman</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Executive Chairman of the Board</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="128" VALIGN="bottom" STYLE=
"width: 96.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
February 19, 2016</P>
</TD>
</TR>
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(Robert S. Silberman)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="128" VALIGN="bottom" STYLE=
"width: 96.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="128" VALIGN="bottom" STYLE=
"width: 96.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Signaturerule" ALIGN="center" STYLE=
"text-align: center; line-height: normal; border: none; mso-style-name: Signature_rule; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
/s/ Karl McDonnell</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Chief Executive Officer and Director</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="128" VALIGN="bottom" STYLE=
"width: 96.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
February 19, 2016</P>
</TD>
</TR>
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(Karl McDonnell)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(Principal Executive Officer)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="128" VALIGN="bottom" STYLE=
"width: 96.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="128" VALIGN="bottom" STYLE=
"width: 96.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Signaturerule" ALIGN="center" STYLE=
"text-align: center; line-height: normal; border: none; mso-style-name: Signature_rule; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
/s/ Daniel W. Jackson</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Chief Financial Officer</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="128" VALIGN="bottom" STYLE=
"width: 96.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
February 19, 2016</P>
</TD>
</TR>
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(Daniel W. Jackson)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(Principal Financial Officer)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="128" VALIGN="bottom" STYLE=
"width: 96.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="128" VALIGN="bottom" STYLE=
"width: 96.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Signaturerule" ALIGN="center" STYLE=
"text-align: center; line-height: normal; border: none; mso-style-name: Signature_rule; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
/s/ Thomas J. Aprahamian</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Controller and Chief Accounting
Officer</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="128" VALIGN="bottom" STYLE=
"width: 96.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
February 19, 2016</P>
</TD>
</TR>
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(Thomas J. Aprahamian)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(Principal Accounting Officer)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="128" VALIGN="bottom" STYLE=
"width: 96.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="128" VALIGN="bottom" STYLE=
"width: 96.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Signaturerule" ALIGN="center" STYLE=
"text-align: center; line-height: normal; border: none; mso-style-name: Signature_rule; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
/s/ Charlotte F. Beason</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Director</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="128" VALIGN="bottom" STYLE=
"width: 96.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
February 19, 2016</P>
</TD>
</TR>
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(Charlotte F. Beason)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="128" VALIGN="bottom" STYLE=
"width: 96.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="128" VALIGN="bottom" STYLE=
"width: 96.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Signaturerule" ALIGN="center" STYLE=
"text-align: center; line-height: normal; border: none; mso-style-name: Signature_rule; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
/s/ William E. Brock</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Director</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="128" VALIGN="bottom" STYLE=
"width: 96.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
February 19, 2016</P>
</TD>
</TR>
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(William E. Brock)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="128" VALIGN="bottom" STYLE=
"width: 96.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="128" VALIGN="bottom" STYLE=
"width: 96.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Signaturerule" ALIGN="center" STYLE=
"text-align: center; line-height: normal; border: none; mso-style-name: Signature_rule; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
/s/ John T. Casteen, III</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Director</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="128" VALIGN="bottom" STYLE=
"width: 96.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
February 19, 2016</P>
</TD>
</TR>
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(John T. Casteen, III)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
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<TD WIDTH="128" VALIGN="bottom" STYLE=
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<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="128" VALIGN="bottom" STYLE=
"width: 96.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Signaturerule" ALIGN="center" STYLE=
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/s/ Robert R. Grusky</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Director</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="128" VALIGN="bottom" STYLE=
"width: 96.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
February 19, 2016</P>
</TD>
</TR>
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(Robert R. Grusky)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="128" VALIGN="bottom" STYLE=
"width: 96.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="128" VALIGN="bottom" STYLE=
"width: 96.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Signaturerule" ALIGN="center" STYLE=
"text-align: center; line-height: normal; border: none; mso-style-name: Signature_rule; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
/s/ Robert L. Johnson</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Director</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="128" VALIGN="bottom" STYLE=
"width: 96.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
February 19, 2016</P>
</TD>
</TR>
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(Robert L. Johnson)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="128" VALIGN="bottom" STYLE=
"width: 96.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="128" VALIGN="bottom" STYLE=
"width: 96.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Signaturerule" ALIGN="center" STYLE=
"text-align: center; line-height: normal; border: none; mso-style-name: Signature_rule; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
/s/ Todd A. Milano</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Director</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="128" VALIGN="bottom" STYLE=
"width: 96.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
February 19, 2016</P>
</TD>
</TR>
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(Todd A. Milano)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="128" VALIGN="bottom" STYLE=
"width: 96.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="128" VALIGN="bottom" STYLE=
"width: 96.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Signaturerule" ALIGN="center" STYLE=
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/s/ G. Thomas Waite, III</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Director</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="128" VALIGN="bottom" STYLE=
"width: 96.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
February 19, 2016</P>
</TD>
</TR>
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(G. Thomas Waite, III)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="128" VALIGN="bottom" STYLE=
"width: 96.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="128" VALIGN="bottom" STYLE=
"width: 96.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Signaturerule" ALIGN="center" STYLE=
"text-align: center; line-height: normal; border: none; mso-style-name: Signature_rule; margin: 0in; margin-bottom: .0001pt; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
/s/ J. David Wargo</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Director</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="128" VALIGN="bottom" STYLE=
"width: 96.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
February 19, 2016</P>
</TD>
</TR>
<TR>
<TD WIDTH="208" VALIGN="bottom" STYLE=
"width: 156.0pt; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="center" STYLE=
"text-align: center; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
(J. David Wargo)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="290" VALIGN="bottom" STYLE=
"width: 217.2pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="128" VALIGN="bottom" STYLE=
"width: 96.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
</TABLE>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
85</P>
<P CLASS="H1" STYLE=
"margin-bottom: 10.0pt; mso-style-name: H1; margin-top: 12.0pt; margin-right: 0in; margin-left: 0in; text-align: center; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Exhibit Index</FONT></P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Exhibit Number</P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Description</P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="right" STYLE=
"text-align: right; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
3.1</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Amended Articles of Incorporation and Articles
Supplementary of the Company (incorporated by reference to Exhibit
3.01 of the Company&rsquo;s Annual Report on Form 10-K (File No.
000-21039) filed with the Commission on March 28, 2002).</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="right" STYLE=
"text-align: right; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
3.2</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Amended and Restated Bylaws of the Company
(incorporated by reference to Exhibit 3.1 of the Company&rsquo;s
Current Report on Form 8-K filed with the Commission on November 4,
2010).</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="right" STYLE=
"text-align: right; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
4.1</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Specimen Stock Certificate (incorporated by
reference to Exhibit 4.01 of Amendment No. 3 to the Company&rsquo;s
Registration Statement on Form S-1 (File No. 333-3967) filed with
the Commission on July 16, 1996).</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="right" STYLE=
"text-align: right; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10.1</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Second Amended and Restated Revolving Credit and
Term Loan Agreement, dated as of November 8, 2012, among the
Company, SunTrust Bank, as Administrative Agent, and the other
lenders and agents party thereto (incorporated by reference to
Exhibit 10.1 of the Company&rsquo;s Current Report on Form 8-K
filed with the Commission on November 9, 2012).</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="right" STYLE=
"text-align: right; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10.2</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">First Amendment to Second Amended and Restated
Revolving Credit and Term Loan Agreement, dated as of July 2, 2015,
among the Company, Strayer University, LLC, SunTrust Bank, as
Administrative Agent, and the other lenders party thereto
(incorporated by reference to Exhibit 10.1 of the Company&rsquo;s
Current Report on Form 8-K filed with the Commission on July 8,
2015).</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="right" STYLE=
"text-align: right; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10.3</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Supplement and Joinder Agreement, dated as of
July 2, 2015, among the Company, Strayer University, LLC, SunTrust
Bank, as Administrative Agent, and other lenders party thereto
(incorporated by reference to Exhibit 10.2 of the Company&rsquo;s
Current Report on Form 8-K filed with the Commission on July 8,
2015).</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="right" STYLE=
"text-align: right; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10.4&dagger;</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Employment Agreement, dated as of April 6, 2001,
between Strayer Education, Inc. and Robert S. Silberman
(incorporated by reference to Exhibit 10.03 of the Company&rsquo;s
Annual Report on Form 10-K (File No. 000-21039) filed with the
Commission on March 28, 2002).</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="right" STYLE=
"text-align: right; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10.5&dagger;</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Strayer Education, Inc. 2011 Equity Compensation
Plan (incorporated by reference to Exhibit A to the Company&rsquo;s
definitive Proxy Statement (File No. 000-21039) filed with the
Commission on March 29, 2011).</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="right" STYLE=
"text-align: right; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10.6&dagger;</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Strayer Education, Inc. 2015 Equity Compensation
Plan (incorporated by reference to Exhibit A to the Company&rsquo;s
definitive proxy statement filed on March 13, 2015).</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="right" STYLE=
"text-align: right; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10.7&dagger;</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Form of Restricted Stock Award Agreement &mdash;
Time Based &mdash; under the 2015 Equity Compensation Plan
(incorporated by reference to Exhibit 99.2 to the Company&rsquo;s
Registration Statement on Form S-8 filed with the Commission on May
5, 2015).</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="right" STYLE=
"text-align: right; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10.8&dagger;</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Form of Restricted Stock Award Agreement &mdash;
Performance Based &mdash; under the 2015 Equity Compensation Plan
(incorporated by reference to Exhibit 99.3 to the Company&rsquo;s
Registration Statement on Form S-8 filed with the Commission on May
5, 2015).</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="right" STYLE=
"text-align: right; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10.9&dagger;</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Form of Nonqualified Stock Option Agreement
under the 2015 Equity Compensation Plan (incorporated by reference
to Exhibit 99.5 to the Company&rsquo;s Registration Statement on
Form S-8 filed with the Commission on May 5, 2015).</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="right" STYLE=
"text-align: right; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10.10&dagger;</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Form of Restricted Stock Award Agreement for
Non-Employee Directors under the 2011 Equity Compensation Plan
(incorporated by reference to Exhibit 99.4 to the Company&rsquo;s
Registration Statement on Form S-8 filed with the Commission on May
5, 2015.</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="right" STYLE=
"text-align: right; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
21.1*</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Subsidiaries of Registrant.</P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="right" STYLE=
"text-align: right; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
23.1*</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Consent of PricewaterhouseCoopers
LLP.</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="right" STYLE=
"text-align: right; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
24.1*</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Power of Attorney (included in signature page
hereto).</FONT></P>
</TD>
</TR>
</TABLE>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
86</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Exhibit Number</P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Description</P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="right" STYLE=
"text-align: right; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
31.1*</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Certification of Chief Executive Officer
pursuant to Rule 13a-14(a) of the Securities Act.</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="right" STYLE=
"text-align: right; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
31.2*</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Certification of Chief Financial Officer
pursuant to Rule 13a-14(a) of the Securities Act.</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="right" STYLE=
"text-align: right; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
32.1**</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Certification of Chief Executive Officer
pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section
906 of the Sarbanes-Oxley Act of 2002.</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="right" STYLE=
"text-align: right; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
32.2**</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Certification of Chief Financial Officer
pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section
906 of the Sarbanes-Oxley Act of 2002.</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="right" STYLE=
"text-align: right; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
101.INS*</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
XBRL Instance Document</P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="right" STYLE=
"text-align: right; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
101.SCH*</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
XBRL Schema Document</P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="right" STYLE=
"text-align: right; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
101.CAL*</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
XBRL Calculation Linkbase Document</P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="right" STYLE=
"text-align: right; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
101.LAB*</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
XBRL Labels Linkbase Document</P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="right" STYLE=
"text-align: right; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
101.PRE*</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
XBRL Presentation Linkbase Document</P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="64" VALIGN="top" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" ALIGN="right" STYLE=
"text-align: right; line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
101.DEF*</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="8" VALIGN="bottom" STYLE=
"width: 6.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="552" VALIGN="bottom" STYLE=
"width: 5.75in; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
XBRL Definition Linkbase Document</P>
</TD>
</TR>
</TABLE>
<P CLASS="Tablefootnotef" STYLE=
"margin-top: 0in; line-height: normal; border: none; mso-style-name: Tablefootnote_f; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -20.0pt; text-autospace: none; padding: 0in; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT STYLE="font-size: 10.0pt;">____________</FONT></P>
<P CLASS="Tablefootnotef" STYLE=
"margin-top: 0in; line-height: normal; border: none; mso-style-name: Tablefootnote_f; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -20.0pt; text-autospace: none; padding: 0in; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT STYLE="font-size: 10.0pt;">*</FONT><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
<FONT STYLE="font-size: 10.0pt;">Filed herewith.</FONT></P>
<P CLASS="Tablefootnotem" STYLE=
"mso-style-name: Tablefootnote_m; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -20.0pt; line-height: 10.0pt; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT STYLE="font-size: 10.0pt;">**</FONT><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
<FONT STYLE="font-size: 10.0pt;">Furnished herewith.</FONT></P>
<P CLASS="Tablefootnotem" STYLE=
"mso-style-name: Tablefootnote_m; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -20.0pt; line-height: 10.0pt; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT STYLE="font-size: 10.0pt;">&dagger;</FONT><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
<FONT STYLE="font-size: 10.0pt;">Denotes management contract or
compensation plan or arrangement.</FONT></P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
87</P>
<P CLASS="Textflush" ALIGN="right" STYLE=
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<DOCUMENT>
<TYPE>EX-21.1
<SEQUENCE>2
<FILENAME>f10k2015ex21i_strayer.htm
<DESCRIPTION>SUBSIDIARIES OF THE REGISTRANT
<TEXT>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<DIV CLASS="WordSection1" STYLE=
"width: 600px; margin: 0 auto; page: WordSection1;"><P CLASS="Textflush" ALIGN="right" STYLE=
"text-align: right; mso-style-name: Text_flush; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;"><FONT CLASS="Bold" STYLE="mso-style-name: Bold; font-weight: bold">Exhibit 21.1</FONT></P>
<P CLASS="H1" STYLE="margin: 12pt 0in 10pt; mso-style-name: H1; text-align: center; font: bold 10pt/12pt TimesNewRomanPSStd-Bold; page-break-after: avoid; text-autospace: none; color: black">
<FONT CLASS="Bold" STYLE="mso-style-name: Bold; font-weight: bold">Subsidiaries of the
Registrant</FONT></P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="100%" STYLE="width: 100%; border-collapse: collapse; border: #000 0px solid; border-width: 0px; margin: 0 auto">
<TR>
<TD WIDTH="67%" VALIGN="BOTTOM" STYLE="width: 67.66%; padding: 0in">
<P CLASS="NoParagraphStyle" STYLE="font: 12pt/normal MinionPro-Regular; mso-style-name: \[No Paragraph Style\]; margin: 0in; margin-bottom: 0pt; text-autospace: none; color: black">
<FONT STYLE="font-family: TimesNewRomanPSStd-Bold; color: windowtext">&nbsp;</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="BOTTOM" STYLE="width: 2.18%; padding: 0in">
<P CLASS="NoParagraphStyle" STYLE="font: 12pt/normal MinionPro-Regular; mso-style-name: \[No Paragraph Style\]; margin: 0in; margin-bottom: 0pt; text-autospace: none; color: black">
<FONT STYLE="font-family: TimesNewRomanPSStd-Bold; color: windowtext">&nbsp;</FONT></P>
</TD>
<TD WIDTH="30%" VALIGN="BOTTOM" STYLE="width: 30.16%; padding: 0in">
<DIV STYLE="border-top-style: none; border-right-style: none; border-bottom: windowtext 1pt none; border-left-style: none; padding: 0in; border-bottom-style: solid">
<P CLASS="TCH" STYLE="margin: 0in 0in 0pt; font: bold 8pt/normal TimesNewRomanPSStd-Bold; border-style: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; text-align: center; text-autospace: none; color: black">
Jurisdiction of Incorporation</P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="67%" VALIGN="BOTTOM" STYLE="width: 67.66%; padding: 0in">
<P CLASS="Tbody" STYLE="font: 10pt/normal TimesNewRomanPSStd-Regular; padding-bottom: 3px; mso-style-name: Tbody; margin: 0in 0in 0pt 10pt; text-indent: -10pt; text-autospace: none; color: black">
Strayer University, LLC</P>
</TD>
<TD WIDTH="2%" VALIGN="BOTTOM" STYLE="width: 2.18%; padding: 0in">
<P CLASS="NoParagraphStyle" STYLE="font: 12pt/normal MinionPro-Regular; mso-style-name: \[No Paragraph Style\]; margin: 0in; margin-bottom: 0pt; text-autospace: none; color: black">
<FONT STYLE="font-family: TimesNewRomanPSStd-Bold; color: windowtext">&nbsp;</FONT></P>
</TD>
<TD WIDTH="30%" VALIGN="BOTTOM" STYLE="width: 30.16%; padding: 0in">
<P CLASS="Tbodyrightalign" ALIGN="CENTER" STYLE="text-align: center; font: 10pt/normal TimesNewRomanPSStd-Regular; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: 0pt; text-autospace: none; color: black">
Maryland</P>
</TD>
</TR>
<TR>
<TD WIDTH="67%" VALIGN="BOTTOM" STYLE="width: 67.66%; padding: 0in">
<P CLASS="Tbody" STYLE="font: 10pt/normal TimesNewRomanPSStd-Regular; padding-bottom: 3px; mso-style-name: Tbody; margin: 0in 0in 0pt 10pt; text-indent: -10pt; text-autospace: none; color: black">
<FONT LANG="EN-GB">New York Code and Design Academy
(NYCDA)</FONT></P>
</TD>
<TD WIDTH="2%" VALIGN="BOTTOM" STYLE="width: 2.18%; padding: 0in">
<P CLASS="NoParagraphStyle" STYLE="font: 12pt/normal MinionPro-Regular; mso-style-name: \[No Paragraph Style\]; margin: 0in; margin-bottom: 0pt; text-autospace: none; color: black">
<FONT STYLE="font-family: TimesNewRomanPSStd-Bold; color: windowtext">&nbsp;</FONT></P>
</TD>
<TD WIDTH="30%" VALIGN="BOTTOM" STYLE="width: 30.16%; padding: 0in">
<P CLASS="Tbodyrightalign" ALIGN="CENTER" STYLE="text-align: center; font: 10pt/normal TimesNewRomanPSStd-Regular; padding-bottom: 3px; mso-style-name: Tbody_rightalign; margin: 0in; margin-bottom: 0pt; text-autospace: none; color: black">
Delaware</P>
</TD>
</TR>
</TABLE>
<P CLASS="LRH" STYLE="margin: 10px 0px 0pt; margin-bottom: 10px;border-bottom-style: solid; border-bottom-width: 1px; mso-style-name: LRH; margin-top: 10pt; margin-right: 0in; margin-left: 0in; text-align: center; text-autospace: none; font: 10pt TimesNewRomanPSStd-Regular; color: black">
&nbsp;</P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>3
<FILENAME>f10k2015ex23i_strayer.htm
<DESCRIPTION>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
<TEXT>
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<DIV CLASS="WordSection1" STYLE=
"width: 600px; margin: 0 auto; page: WordSection1;"><P CLASS="Textflush" ALIGN="RIGHT" STYLE="text-align: right; mso-style-name: Text_flush; margin: 6pt 0in 0pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black"><FONT CLASS="Bold" STYLE="mso-style-name: Bold; font-weight: bold">Exhibit 23.1</FONT></P>
<P CLASS="H1" STYLE="mso-style-name: H1; margin: 12pt 0in 0pt; text-align: center; font: bold 10pt/12pt TimesNewRomanPSStd-Bold; page-break-after: avoid; text-autospace: none; color: black">
<FONT CLASS="Bold" STYLE="mso-style-name: Bold; font-weight: bold">CONSENT OF INDEPENDENT
REGISTERED PUBLIC ACCOUNTING FIRM</FONT></P>
<P CLASS="Textind" STYLE="mso-style-name: Text_ind; margin: 6pt 0in 0pt; text-indent: 20pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
We hereby consent to the incorporation by reference in the
Registration Statements on Form S-8 (Nos. 333-203860, 333-173732,
No. 333-71182 and No. 333-71104) of Strayer Education, Inc. of our
report dated February 19, 2016 relating to the financial statements
and the effectiveness of internal control over financial reporting,
which appears in this Form 10-K.</P>
<P CLASS="Textflush" STYLE="mso-style-name: Text_flush; margin: 6pt 0in 0pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
PricewaterhouseCoopers LLP<BR>
McLean, Virginia<BR>
February 19, 2016</P>
<P CLASS="RRH" STYLE="margin: 0in; margin-bottom: 0pt; border-bottom-style: solid; border-bottom-width: 1px; mso-style-name: RRH; margin-top: 10pt; margin-right: 0in; margin-left: 0in; text-align: center; text-autospace: none; font: 10pt TimesNewRomanPSStd-Regular; color: black">
&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-31.1
<SEQUENCE>4
<FILENAME>f10k2015ex31i_strayer.htm
<DESCRIPTION>CERTIFICATION
<TEXT>
<HTML>
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<DIV CLASS="WordSection1" STYLE=
"width: 600px; margin: 0 auto; page: WordSection1;"><P CLASS="Textflush" ALIGN="RIGHT" STYLE="text-align: right; mso-style-name: Text_flush; margin: 6pt 0in 0pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black"><FONT CLASS="Bold" STYLE="mso-style-name: Bold; font-weight: bold">Exhibit 31.1</FONT></P>
<P CLASS="Textflush" STYLE="mso-style-name: Text_flush; margin: 6pt 0in 0pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
<B><U><FONT STYLE="font-family: TimesNewRomanPSStd-Bold">CERTIFICATION</FONT></U></B></P>
<P CLASS="Textflush" STYLE="mso-style-name: Text_flush; margin: 6pt 0in 0pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
I, Karl McDonnell, certify that:</P>
<P CLASS="NLmNoindent" STYLE="mso-style-name: NL_m No indent; margin: 8pt 0in 0pt 24pt; text-indent: -24pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
1.<FONT STYLE="font-size: 8.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT> I
have reviewed this annual report on Form 10-K of Strayer Education,
Inc. (the &ldquo;registrant&rdquo;);</P>
<P CLASS="NLmNoindent" STYLE="mso-style-name: NL_m No indent; margin: 8pt 0in 0pt 24pt; text-indent: -24pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
2.<FONT STYLE="font-size: 8.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
Based on my knowledge, this report does not contain any untrue
statement of a material fact or omit to state a material fact
necessary to make the statements made, in light of the
circumstances under which such statements were made, not misleading
with respect to the period covered by this report;</P>
<P CLASS="NLmNoindent" STYLE="mso-style-name: NL_m No indent; margin: 8pt 0in 0pt 24pt; text-indent: -24pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
3.<FONT STYLE="font-size: 8.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
Based on my knowledge, the financial statements, and other
financial information included in this report, fairly present in
all material respects the financial condition, results of
operations and cash flows of the registrant as of, and for, the
periods presented in this report;</P>
<P CLASS="NLmNoindent" STYLE="mso-style-name: NL_m No indent; margin: 8pt 0in 0pt 24pt; text-indent: -24pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
4.<FONT STYLE="font-size: 8.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT> The
registrant&rsquo;s other certifying officer and I are responsible
for establishing and maintaining disclosure controls and procedures
(as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and
internal control over financial reporting (as defined in Exchange
Act Rules 13a-15(f) and 15d-(f)) for the registrant and have:</P>
<P CLASS="NLmlevel1" STYLE="mso-style-name: NL_m level1; margin: 8pt 0in 0pt 48pt; text-indent: -24pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
(a)<FONT STYLE="font-size: 8.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT> Designed
such disclosure controls and procedures, or caused such disclosure
controls and procedures to be designed under our supervision, to
ensure that material information relating to the registrant,
including its consolidated subsidiaries, is made known to us by
others within those entities, particularly during the period in
which this report is being prepared;</P>
<P CLASS="NLmlevel1" STYLE="mso-style-name: NL_m level1; margin: 8pt 0in 0pt 48pt; text-indent: -24pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
(b)<FONT STYLE="font-size: 8.5pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
Designed such internal control over financial reporting, or caused
such internal control over financial reporting to be designed under
our supervision, to provide reasonable assurance regarding the
reliability of financial reporting and the preparation of financial
statements for external purpose in accordance with generally
accepted accounting principles;</P>
<P CLASS="NLmlevel1" STYLE="mso-style-name: NL_m level1; margin: 8pt 0in 0pt 48pt; text-indent: -24pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
(c)<FONT STYLE="font-size: 8.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT> Evaluated
the effectiveness of the registrant&rsquo;s disclosure controls and
procedures and presented in this report our conclusions about the
effectiveness of the disclosure controls and procedures, as of the
end of the period covered by this report based on such evaluation;
and</P>
<P CLASS="NLmlevel1" STYLE="mso-style-name: NL_m level1; margin: 8pt 0in 0pt 48pt; text-indent: -24pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
(d)<FONT STYLE="font-size: 8.5pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
Disclosed in this report any change in the registrant&rsquo;s
internal control over financial reporting that occurred during the
registrant&rsquo;s most recent fiscal quarter (the
registrant&rsquo;s fourth fiscal quarter in the case of an annual
report) that has materially affected, or is reasonably likely to
materially affect, the registrant&rsquo;s internal control over
financial reporting; and</P>
<P CLASS="NLmNoindent" STYLE="mso-style-name: NL_m No indent; margin: 8pt 0in 0pt 24pt; text-indent: -24pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
5.<FONT STYLE="font-size: 8.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT> The
registrant&rsquo;s other certifying officer and I have disclosed,
based on our most recent evaluation of internal control over
financial reporting, to the registrant&rsquo;s auditors and the
audit committee of the registrant&rsquo;s board of directors (or
persons performing the equivalent functions):</P>
<P CLASS="NLmlevel1" STYLE="mso-style-name: NL_m level1; margin: 8pt 0in 0pt 48pt; text-indent: -24pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
(a)<FONT STYLE="font-size: 8.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT> All
significant deficiencies and material weaknesses in the design or
operation of internal control over financial reporting which are
reasonably likely to adversely affect the registrant&rsquo;s
ability to record, process, summarize and report financial
information; and</P>
<P CLASS="NLmlevel1" STYLE="mso-style-name: NL_m level1; margin: 8pt 0in 0pt 48pt; text-indent: -24pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
(b)<FONT STYLE="font-size: 8.5pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
Any fraud, whether or not material, that involves management or
other employees who have a significant role in the
registrant&rsquo;s internal control over financial reporting.</P>
<P CLASS="Textflush" STYLE="margin: 6pt 0in 10pt; mso-style-name: Text_flush; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
Date: February 19, 2016</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="margin: 0 auto 0 0.4pt; border-collapse: collapse; border: #000 0px solid; border-width: 0px; margin-left: auto">
<TR>
<TD WIDTH="320" VALIGN="BOTTOM" STYLE="width: 240pt; padding: 0in">
<P CLASS="NoParagraphStyle" STYLE="font: 12pt/normal MinionPro-Regular; margin: 0in; mso-style-name: \[No Paragraph Style\]; margin-bottom: 0pt; text-autospace: none; color: black">
<FONT STYLE="font-family: TimesNewRomanPSStd-Bold; color: windowtext">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="BOTTOM" STYLE="width: 8pt; padding: 0in">
<P CLASS="NoParagraphStyle" STYLE="font: 12pt/normal MinionPro-Regular; margin: 0in; mso-style-name: \[No Paragraph Style\]; margin-bottom: 0pt; text-autospace: none; color: black">
<FONT STYLE="font-family: TimesNewRomanPSStd-Bold; color: windowtext">&nbsp;</FONT></P>
</TD>
<TD WIDTH="144" VALIGN="BOTTOM" STYLE="width: 1.5in; border-top-style: none; border-right-style: none; border-bottom: windowtext 1pt none; padding: 0in; border-left-style: none; border-bottom-style: solid">
<P CLASS="Signaturerule" STYLE="font: 10pt/normal TimesNewRomanPSStd-Regular; margin: 0in; padding: 0in; border-style: none; mso-style-name: Signature_rule; margin-bottom: 0pt; text-autospace: none; color: black">
/s/ Karl McDonnell</P>
</TD>
<TD WIDTH="11" VALIGN="BOTTOM" STYLE="width: 8pt; padding: 0in">
<P CLASS="NoParagraphStyle" STYLE="font: 12pt/normal MinionPro-Regular; margin: 0in; mso-style-name: \[No Paragraph Style\]; margin-bottom: 0pt; text-autospace: none; color: black">
<FONT STYLE="font-family: TimesNewRomanPSStd-Bold; color: windowtext">&nbsp;</FONT></P>
</TD>
<TD WIDTH="160" VALIGN="BOTTOM" STYLE="width: 120pt; padding: 0in">
<P CLASS="NoParagraphStyle" STYLE="font: 12pt/normal MinionPro-Regular; margin: 0in; mso-style-name: \[No Paragraph Style\]; margin-bottom: 0pt; text-autospace: none; color: black">
<FONT STYLE="font-family: TimesNewRomanPSStd-Bold; color: windowtext">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="320" VALIGN="BOTTOM" STYLE="width: 240pt; padding: 0in">
<P CLASS="NoParagraphStyle" STYLE="font: 12pt/normal MinionPro-Regular; margin: 0in; mso-style-name: \[No Paragraph Style\]; margin-bottom: 0pt; text-autospace: none; color: black">
<FONT STYLE="font-family: TimesNewRomanPSStd-Bold; color: windowtext">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="BOTTOM" STYLE="width: 8pt; padding: 0in">
<P CLASS="NoParagraphStyle" STYLE="font: 12pt/normal MinionPro-Regular; margin: 0in; mso-style-name: \[No Paragraph Style\]; margin-bottom: 0pt; text-autospace: none; color: black">
<FONT STYLE="font-family: TimesNewRomanPSStd-Bold; color: windowtext">&nbsp;</FONT></P>
</TD>
<TD WIDTH="144" VALIGN="BOTTOM" STYLE="width: 1.5in; border-style: none; padding: 0in">
<P CLASS="Texttable" STYLE="font: 10pt/normal TimesNewRomanPSStd-Regular; margin: 0in; mso-style-name: Texttable; margin-bottom: 0pt; text-autospace: none; color: black">
Karl McDonnell</P>
</TD>
<TD WIDTH="11" VALIGN="BOTTOM" STYLE="width: 8pt; padding: 0in">
<P CLASS="NoParagraphStyle" STYLE="font: 12pt/normal MinionPro-Regular; margin: 0in; mso-style-name: \[No Paragraph Style\]; margin-bottom: 0pt; text-autospace: none; color: black">
<FONT STYLE="font-family: TimesNewRomanPSStd-Bold; color: windowtext">&nbsp;</FONT></P>
</TD>
<TD WIDTH="160" VALIGN="BOTTOM" STYLE="width: 120pt; padding: 0in">
<P CLASS="NoParagraphStyle" STYLE="font: 12pt/normal MinionPro-Regular; margin: 0in; mso-style-name: \[No Paragraph Style\]; margin-bottom: 0pt; text-autospace: none; color: black">
<FONT STYLE="font-family: TimesNewRomanPSStd-Bold; color: windowtext">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="320" VALIGN="BOTTOM" STYLE="width: 240pt; padding: 0in">
<P CLASS="NoParagraphStyle" STYLE="font: 12pt/normal MinionPro-Regular; margin: 0in; mso-style-name: \[No Paragraph Style\]; margin-bottom: 0pt; text-autospace: none; color: black">
<FONT STYLE="font-family: TimesNewRomanPSStd-Bold; color: windowtext">&nbsp;</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="BOTTOM" STYLE="width: 8pt; padding: 0in">
<P CLASS="NoParagraphStyle" STYLE="font: 12pt/normal MinionPro-Regular; margin: 0in; mso-style-name: \[No Paragraph Style\]; margin-bottom: 0pt; text-autospace: none; color: black">
<FONT STYLE="font-family: TimesNewRomanPSStd-Bold; color: windowtext">&nbsp;</FONT></P>
</TD>
<TD WIDTH="144" VALIGN="BOTTOM" STYLE="width: 1.5in; padding: 0in">
<P CLASS="Texttable" STYLE="font: 10pt/normal TimesNewRomanPSStd-Regular; margin: 0in; mso-style-name: Texttable; margin-bottom: 0pt; text-autospace: none; color: black">
Chief Executive Officer</P>
</TD>
<TD WIDTH="11" VALIGN="BOTTOM" STYLE="width: 8pt; padding: 0in">
<P CLASS="NoParagraphStyle" STYLE="font: 12pt/normal MinionPro-Regular; margin: 0in; mso-style-name: \[No Paragraph Style\]; margin-bottom: 0pt; text-autospace: none; color: black">
<FONT STYLE="font-family: TimesNewRomanPSStd-Bold; color: windowtext">&nbsp;</FONT></P>
</TD>
<TD WIDTH="160" VALIGN="BOTTOM" STYLE="width: 120pt; padding: 0in">
<P CLASS="NoParagraphStyle" STYLE="font: 12pt/normal MinionPro-Regular; margin: 0in; mso-style-name: \[No Paragraph Style\]; margin-bottom: 0pt; text-autospace: none; color: black">
<FONT STYLE="font-family: TimesNewRomanPSStd-Bold; color: windowtext">&nbsp;</FONT></P>
</TD>
</TR>
</TABLE>
<P CLASS="LRH" STYLE="margin: 10px 0px 0pt; margin-bottom: 10px; border-bottom-style: solid; border-bottom-width: 1px; mso-style-name: LRH; margin-top: 10pt; margin-right: 0in; margin-left: 0in; text-align: center; text-autospace: none; font: 10pt TimesNewRomanPSStd-Regular; color: black">&nbsp;</P>
<P CLASS="Textind" STYLE="margin: 6pt 0in 10pt; mso-style-name: Text_ind; text-indent: 20pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black"></P>
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<DOCUMENT>
<TYPE>EX-31.2
<SEQUENCE>5
<FILENAME>f10k2015ex31ii_strayer.htm
<DESCRIPTION>CERTIFICATION
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<DIV CLASS="WordSection1" STYLE=
"width: 600px; margin: 0 auto; page: WordSection1;"><P CLASS="Textflush" ALIGN="RIGHT" STYLE="text-align: right; mso-style-name: Text_flush; margin: 6pt 0in 0pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black"><FONT CLASS="Bold" STYLE="mso-style-name: Bold; font-weight: bold">Exhibit 31.2</FONT></P>
<P CLASS="Textflush" STYLE="mso-style-name: Text_flush; margin: 6pt 0in 0pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
<B><U><FONT STYLE="font-family: TimesNewRomanPSStd-Bold">CERTIFICATION</FONT></U></B></P>
<P CLASS="Textflush" STYLE="mso-style-name: Text_flush; margin: 6pt 0in 0pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
I, Daniel W. Jackson, certify that:</P>
<P CLASS="NLmNoindent" STYLE="mso-style-name: NL_m No indent; margin: 8pt 0in 0pt 24pt; text-indent: -24pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
1.<FONT STYLE="font-size: 8.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT> I
have reviewed this annual report on Form 10-K of Strayer Education,
Inc. (the &ldquo;registrant&rdquo;);</P>
<P CLASS="NLmNoindent" STYLE="mso-style-name: NL_m No indent; margin: 8pt 0in 0pt 24pt; text-indent: -24pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
2.<FONT STYLE="font-size: 8.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
Based on my knowledge, this report does not contain any untrue
statement of a material fact or omit to state a material fact
necessary to make the statements made, in light of the
circumstances under which such statements were made, not misleading
with respect to the period covered by this report;</P>
<P CLASS="NLmNoindent" STYLE="mso-style-name: NL_m No indent; margin: 8pt 0in 0pt 24pt; text-indent: -24pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
3.<FONT STYLE="font-size: 8.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
Based on my knowledge, the financial statements, and other
financial information included in this report, fairly present in
all material respects the financial condition, results of
operations and cash flows of the registrant as of, and for, the
periods presented in this report;</P>
<P CLASS="NLmNoindent" STYLE="mso-style-name: NL_m No indent; margin: 8pt 0in 0pt 24pt; text-indent: -24pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
4.<FONT STYLE="font-size: 8.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT> The
registrant&rsquo;s other certifying officer and I are responsible
for establishing and maintaining disclosure controls and procedures
(as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and
internal control over financial reporting (as defined in Exchange
Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:</P>
<P CLASS="NLmlevel1" STYLE="mso-style-name: NL_m level1; margin: 8pt 0in 0pt 48pt; text-indent: -24pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
(a)<FONT STYLE="font-size: 8.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT> Designed
such disclosure controls and procedures, or caused such disclosure
controls and procedures to be designed under our supervision, to
ensure that material information relating to the registrant,
including its consolidated subsidiaries, is made known to us by
others within those entities, particularly during the period in
which this report is being prepared;</P>
<P CLASS="NLmlevel1" STYLE="mso-style-name: NL_m level1; margin: 8pt 0in 0pt 48pt; text-indent: -24pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
(b)<FONT STYLE="font-size: 8.5pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
Designed such internal control over financial reporting, or caused
such internal control over financial reporting to be designed under
our supervision, to provide reasonable assurance regarding the
reliability of financial reporting and the preparation of financial
statements for external purposes in accordance with generally
accepted accounting principles;</P>
<P CLASS="NLmlevel1" STYLE="mso-style-name: NL_m level1; margin: 8pt 0in 0pt 48pt; text-indent: -24pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
(c)<FONT STYLE="font-size: 8.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT> Evaluated
the effectiveness of the registrant&rsquo;s disclosure controls and
procedures and presented in this report our conclusions about the
effectiveness of the disclosure controls and procedures, as of the
end of the period covered by this report based on such evaluation;
and</P>
<P CLASS="NLmlevel1" STYLE="mso-style-name: NL_m level1; margin: 8pt 0in 0pt 48pt; text-indent: -24pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
(d)<FONT STYLE="font-size: 8.5pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
Disclosed in this report any change in the registrant&rsquo;s
internal control over financial reporting that occurred during the
registrant&rsquo;s most recent fiscal quarter (the
registrant&rsquo;s fourth fiscal quarter in the case of an annual
report) that has materially affected, or is reasonably likely to
materially affect, the registrant&rsquo;s internal control over
financial reporting; and</P>
<P CLASS="NLmNoindent" STYLE="mso-style-name: NL_m No indent; margin: 8pt 0in 0pt 24pt; text-indent: -24pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
5.<FONT STYLE="font-size: 8.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT> The
registrant&rsquo;s other certifying officer and I have disclosed,
based on our most recent evaluation of internal control over
financial reporting, to the registrant&rsquo;s auditors and the
audit committee of the registrant&rsquo;s board of directors (or
person performing the equivalent functions):</P>
<P CLASS="NLmlevel1" STYLE="mso-style-name: NL_m level1; margin: 8pt 0in 0pt 48pt; text-indent: -24pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
(a)<FONT STYLE="font-size: 8.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT> All
significant deficiencies and material weaknesses in the design or
operation of internal control over financial reporting which are
reasonably likely to adversely affect the registrant&rsquo;s
ability to record, process, summarize and report financial
information; and</P>
<P CLASS="NLmlevel1" STYLE="mso-style-name: NL_m level1; margin: 8pt 0in 0pt 48pt; text-indent: -24pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
(b)<FONT STYLE="font-size: 8.5pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
Any fraud, whether or not material, that involves management or
other employees who have a significant role in the
registrant&rsquo;s internal control over financial reporting.</P>
<P CLASS="Textflush" STYLE="margin: 6pt 0in 10pt; mso-style-name: Text_flush; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
Date: February 19, 2016</P>
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/s/ Daniel W. Jackson</P>
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Daniel W. Jackson</P>
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<FONT LANG="EN-GB">Executive Vice President and<BR>
Chief Financial Officer</FONT></P>
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<DOCUMENT>
<TYPE>EX-32.1
<SEQUENCE>6
<FILENAME>f10k2015ex32i_strayer.htm
<DESCRIPTION>CERTIFICATION PURSUANT TO RULE 13B 14(B) OF THE SECURITIES EXCHANGE ACT AND 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES OXLEY ACT OF 2002
<TEXT>
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<DIV CLASS="WordSection1" STYLE=
"width: 600px; margin: 0 auto; page: WordSection1;"><P CLASS="Textflush" ALIGN="RIGHT" STYLE="text-align: right; mso-style-name: Text_flush; margin: 6pt 0in 0pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black"><FONT CLASS="Bold" STYLE="mso-style-name: Bold; font-weight: bold">Exhibit 32.1</FONT></P>
<P CLASS="H1" STYLE="mso-style-name: H1; margin: 12pt 0in 0pt; text-align: center; font: bold 10pt/12pt TimesNewRomanPSStd-Bold; page-break-after: avoid; text-autospace: none; color: black">
<U>CERTIFICATION PURSUANT TO RULE 13b &mdash; 14(b) OF THE
SECURITIES EXCHANGE ACT<BR>
AND 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF
THE<BR>
SARBANES &mdash; OXLEY ACT OF 2002</U></P>
<P CLASS="Textflush" STYLE="mso-style-name: Text_flush; margin: 6pt 0in 0pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
In connection with the Annual Report of Strayer Education, Inc.
(the &ldquo;Company&rdquo;) on Form 10-K for the year ended
December 31, 2015 as filed with the Securities and Exchange
Commission on the date hereof (the &ldquo;Report&rdquo;), I, Karl
McDonnell, Chief Executive Officer of the Company, certify,
pursuant to 18 U.S.C. &sect;1350, as adopted pursuant to &sect;906
of the Sarbanes-Oxley Act of 2002, that:</P>
<P CLASS="Textind" STYLE="mso-style-name: Text_ind; margin: 6pt 0in 0pt; text-indent: 20pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
(1) The Report fully complies with the requirements of section
13(a) or 15(d) of the Securities Exchange Act of 1934; and</P>
<P CLASS="Textind" STYLE="margin: 6pt 0in 10pt; mso-style-name: Text_ind; text-indent: 20pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
(2) The information contained in the Report fairly presents, in all
material respects, the financial condition and results of
operations of the Company.</P>
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/s/ Karl McDonnell</P>
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<P CLASS="Texttable" STYLE="font: 10pt/normal TimesNewRomanPSStd-Regular; margin: 0in; mso-style-name: Texttable; margin-bottom: 0pt; text-autospace: none; color: black">
Karl McDonnell</P>
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<FONT STYLE="font-family: TimesNewRomanPSStd-Bold; color: windowtext">&nbsp;</FONT></P>
</TD>
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<P CLASS="Texttable" STYLE="font: 10pt/normal TimesNewRomanPSStd-Regular; margin: 0in; mso-style-name: Texttable; margin-bottom: 0pt; text-autospace: none; color: black">
Chief Executive Officer</P>
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February 19, 2016</P>
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<DOCUMENT>
<TYPE>EX-32.2
<SEQUENCE>7
<FILENAME>f10k2015ex32ii_strayer.htm
<DESCRIPTION>CERTIFICATION PURSUANT TO RULE 13B 14(B) OF THE SECURITIES EXCHANGE ACT AND 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES OXLEY ACT OF 2002
<TEXT>
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<DIV CLASS="WordSection1" STYLE=
"width: 600px; margin: 0 auto; page: WordSection1;"><P CLASS="Textflush" ALIGN="RIGHT" STYLE="text-align: right; mso-style-name: Text_flush; margin: 6pt 0in 0pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black"><FONT CLASS="Bold" STYLE="mso-style-name: Bold; font-weight: bold">Exhibit 32.2</FONT></P>
<P CLASS="H1" STYLE="mso-style-name: H1; margin: 12pt 0in 0pt; text-align: center; font: bold 10pt/12pt TimesNewRomanPSStd-Bold; page-break-after: avoid; text-autospace: none; color: black">
<U>CERTIFICATION PURSUANT TO RULE 13b &mdash; 14(b) OF THE
SECURITIES EXCHANGE ACT<BR>
AND 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF
THE<BR>
SARBANES &mdash; OXLEY ACT OF 2002</U></P>
<P CLASS="Textflush" STYLE="mso-style-name: Text_flush; margin: 6pt 0in 0pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
In connection with the Annual Report of Strayer Education, Inc.
(the &ldquo;Company&rdquo;) on Form 10-K for the year ended
December 31, 2015 as filed with the Securities and Exchange
Commission on the date hereof (the &ldquo;Report&rdquo;), I, Daniel
W. Jackson, Executive Vice President and Chief Financial Officer of
the Company, certify, pursuant to 18 U.S.C. &sect;1350, as adopted
pursuant to &sect;906 of the Sarbanes-Oxley Act of 2002, that:</P>
<P CLASS="Textind" STYLE="mso-style-name: Text_ind; margin: 6pt 0in 0pt; text-indent: 20pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
(1) The Report fully complies with the requirements of section
13(a) or 15(d) of the Securities Exchange Act of 1934; and</P>
<P CLASS="Textind" STYLE="margin: 6pt 0in 10pt; mso-style-name: Text_ind; text-indent: 20pt; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
(2) The information contained in the Report fairly presents, in all
material respects, the financial condition and results of
operations of the Company.</P>
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/s/ Daniel W. Jackson</P>
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Daniel W. Jackson</P>
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<TD WIDTH="11" VALIGN="BOTTOM" STYLE="width: 8pt; padding: 0in">
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<FONT STYLE="font-family: TimesNewRomanPSStd-Bold; color: windowtext">&nbsp;</FONT></P>
</TD>
<TD WIDTH="304" VALIGN="BOTTOM" STYLE="width: 228pt; padding: 0in">
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<FONT STYLE="font-family: TimesNewRomanPSStd-Bold; color: windowtext">&nbsp;</FONT></P>
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<FONT LANG="EN-GB">Executive Vice President and Chief Financial
Officer</FONT></P>
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February 19, 2016</P>
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<us-gaap:IncreaseDecreaseInAccountsReceivable contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">1991000</us-gaap:IncreaseDecreaseInAccountsReceivable>
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<us-gaap:IncreaseDecreaseInOtherOperatingAssets contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">-219000</us-gaap:IncreaseDecreaseInOtherOperatingAssets>
<us-gaap:IncreaseDecreaseInOtherOperatingAssets contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">-22000</us-gaap:IncreaseDecreaseInOtherOperatingAssets>
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<us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">6550000</us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities>
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<us-gaap:IncreaseDecreaseInAccruedIncomeTaxesPayable contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">737000</us-gaap:IncreaseDecreaseInAccruedIncomeTaxesPayable>
<us-gaap:IncreaseDecreaseInAccruedIncomeTaxesPayable contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">1835000</us-gaap:IncreaseDecreaseInAccruedIncomeTaxesPayable>
<us-gaap:IncreaseDecreaseInDeferredRevenue contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00" unitRef="USD" decimals="-3">2059000</us-gaap:IncreaseDecreaseInDeferredRevenue>
<us-gaap:IncreaseDecreaseInDeferredRevenue contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">11783000</us-gaap:IncreaseDecreaseInDeferredRevenue>
<us-gaap:IncreaseDecreaseInDeferredRevenue contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">12465000</us-gaap:IncreaseDecreaseInDeferredRevenue>
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<us-gaap:IncreaseDecreaseInOtherNoncurrentLiabilities contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">-14373000</us-gaap:IncreaseDecreaseInOtherNoncurrentLiabilities>
<us-gaap:IncreaseDecreaseInOtherNoncurrentLiabilities contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">-3624000</us-gaap:IncreaseDecreaseInOtherNoncurrentLiabilities>
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<us-gaap:NetCashProvidedByUsedInOperatingActivities contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">77550000</us-gaap:NetCashProvidedByUsedInOperatingActivities>
<us-gaap:NetCashProvidedByUsedInOperatingActivities contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">76898000</us-gaap:NetCashProvidedByUsedInOperatingActivities>
<us-gaap:PaymentsToAcquirePropertyPlantAndEquipment contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00" unitRef="USD" decimals="-3">8726000</us-gaap:PaymentsToAcquirePropertyPlantAndEquipment>
<us-gaap:PaymentsToAcquirePropertyPlantAndEquipment contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">6902000</us-gaap:PaymentsToAcquirePropertyPlantAndEquipment>
<us-gaap:PaymentsToAcquirePropertyPlantAndEquipment contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">12692000</us-gaap:PaymentsToAcquirePropertyPlantAndEquipment>
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<us-gaap:NetCashProvidedByUsedInInvestingActivities contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">-6902000</us-gaap:NetCashProvidedByUsedInInvestingActivities>
<us-gaap:NetCashProvidedByUsedInInvestingActivities contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">-12692000</us-gaap:NetCashProvidedByUsedInInvestingActivities>
<us-gaap:RepaymentsOfLongTermDebt contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00" unitRef="USD" decimals="-3">3125000</us-gaap:RepaymentsOfLongTermDebt>
<us-gaap:RepaymentsOfLongTermDebt contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">3125000</us-gaap:RepaymentsOfLongTermDebt>
<us-gaap:RepaymentsOfLongTermDebt contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">118750000</us-gaap:RepaymentsOfLongTermDebt>
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<us-gaap:PaymentsOfFinancingCosts contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">850000</us-gaap:PaymentsOfFinancingCosts>
<us-gaap:PaymentsForRepurchaseOfCommonStock contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00" unitRef="USD" decimals="-3">24999000</us-gaap:PaymentsForRepurchaseOfCommonStock>
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<us-gaap:PaymentsForRepurchaseOfCommonStock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" xsi:nil="true"/>
<us-gaap:NetCashProvidedByUsedInFinancingActivities contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00" unitRef="USD" decimals="-3">-28124000</us-gaap:NetCashProvidedByUsedInFinancingActivities>
<us-gaap:NetCashProvidedByUsedInFinancingActivities contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">-3125000</us-gaap:NetCashProvidedByUsedInFinancingActivities>
<us-gaap:NetCashProvidedByUsedInFinancingActivities contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">-119600000</us-gaap:NetCashProvidedByUsedInFinancingActivities>
<us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00" unitRef="USD" decimals="-3">47243000</us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease>
<us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">67523000</us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease>
<us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">-55394000</us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease>
<us-gaap:FairValueOfAssetsAcquired contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00" unitRef="USD" decimals="-3">47000</us-gaap:FairValueOfAssetsAcquired>
<us-gaap:FairValueOfAssetsAcquired contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">412000</us-gaap:FairValueOfAssetsAcquired>
<us-gaap:FairValueOfAssetsAcquired contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">365000</us-gaap:FairValueOfAssetsAcquired>
<us-gaap:NatureOfOperations contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;p class="h2note" style="font: bold 10pt/12pt timesnewromanpsstd-bold; margin: 12pt 0in 0pt 20pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;1.&lt;/font&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&amp;#160;Nature of Operations&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;Strayer Education, Inc. (the &amp;#8220;Company&amp;#8221;), a Maryland corporation, conducts its operations through its wholly owned subsidiaries, Strayer University (the &amp;#8220;University&amp;#8221;) and New York Code and Design Academy (&amp;#8220;NYCDA&amp;#8221;). The University is an accredited institution of higher education that provides undergraduate and graduate degrees in various fields of study through physical campuses, predominantly located in the eastern United States, and online. With the Company&amp;#8217;s focus on the student, regardless of whether he or she chooses to take classes at a physical campus or online, it has only one reporting segment.&lt;/p&gt;</us-gaap:NatureOfOperations>
<us-gaap:SignificantAccountingPoliciesTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;p class="h2note" style="font: bold 10pt/12pt timesnewromanpsstd-bold; margin: 12pt 0in 0pt 20pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;2.&lt;/font&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&amp;#160;Significant Accounting Policies&lt;/font&gt;&lt;/p&gt;
&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Financial Statement Presentation&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, the University. On January 13, 2016, the Company acquired all of the outstanding stock of NYCDA, and the results of NYCDA will be included with the Company from the acquisition date. All intercompany accounts and transactions have been eliminated in the consolidated financial statements.&lt;/p&gt;
&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Revenue Recognition&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;The Company&amp;#8217;s educational programs are offered on a quarterly basis and such periods coincide with the Company&amp;#8217;s quarterly financial reporting periods. Approximately 96% of the Company&amp;#8217;s revenues during the year ended December 31, 2015 consisted of tuition revenue, which is recognized in the quarter of instruction. Tuition revenue is assessed for collectibility on a student-by-student basis throughout the quarter of instruction, and is shown net of any refunds, withdrawals, corporate discounts, scholarships and employee tuition discounts. This collectibility assessment considers available sources of funds for the student including Federal Financial Student Aid programs. The Company reassesses the collectibility of tuition revenue that it may earn based on new information and changes in the facts and circumstances relevant to a student&amp;#8217;s ability to pay, including the timing of a student&amp;#8217;s withdrawal from a program of study.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;At the start of each academic term, a liability (deferred revenue) is recorded for academic services to be provided and a tuition receivable is recorded for the portion of the tuition not paid in advance. Any cash received prior to the start of an academic term is recorded as deferred revenue. Some students may be eligible for scholarship awards, the estimated value of which will be realized in the future and is deducted from revenue when earned, based on historical student attendance and completion behavior. Deferred revenue is recorded as a current or long-term liability in the consolidated balance sheets based on when the benefit is expected to be realized. Revenues also include textbook-related income, certificate revenue, certain academic fees, licensing revenue, and other income, which are recognized when earned.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;The Company&amp;#8217;s refund policy typically permits students who complete less than half of a course to receive a partial refund of tuition for that course. Refunds reduce the tuition revenue that would have otherwise been recognized for that student. Since the Company&amp;#8217;s academic terms coincide with its financial reporting periods, nearly all refunds are processed and recorded within the same quarter as the corresponding revenue. The amount of tuition revenue refundable to students may vary based on the student&amp;#8217;s state of residence. Unused books and related academic materials may be returned for a full refund within 21 days of the start of class; however, purchases of electronic content are not refundable if downloaded. Revenues derived from fees are not eligible for a refund.&lt;/p&gt;
&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Graduation Fund&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;In the third quarter of 2013, the Company introduced the Graduation Fund, which allows new undergraduate students to earn tuition credits that are redeemable in the final year of a student&amp;#8217;s course of study if he or she successfully remains in the program. New students registering in credit-bearing courses in any undergraduate program for the summer 2013 term (fiscal third quarter) and subsequent terms qualify for the Graduation Fund. Students must meet all of the University&amp;#8217;s admission requirements, and must be enrolled in an undergraduate degree program. The Company&amp;#8217;s employees and their dependents are not eligible for the program. Students who have more than one consecutive term of
 non-attendance lose any Graduation Fund credits earned to date, but may earn and accumulate new credits if the student is reinstated or readmitted by the University in the future. In their final academic year, qualifying students will receive one free course for every three courses that were successfully completed.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;Revenue from students participating in the Graduation Fund is recorded in accordance with the Revenue Recognition Topic, ASC 605-50. The Company defers the value of benefits estimated to be redeemed in the future based on the underlying revenue transactions that result in progress by the student toward earning the benefit. The Company&amp;#8217;s estimate of the benefits that will be redeemed in the future is based on its historical experience of student persistence toward completion of a course of study within this program and similar programs. Each quarter, the Company assesses its methodologies and assumptions underlying these estimates and, to date, any adjustments to the estimates have not been material. The amount estimated to be redeemed in the next twelve months is $10.0 million and is included in deferred revenue as a current liability in the consolidated balance sheets.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;The table below presents activity in the Graduation Fund for the years ended December 31, 2014 and 2015 (in thousands):&lt;/p&gt;
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&lt;td width="472" valign="bottom" style="background: white; padding: 0in; width: 354pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="20" valign="bottom" style="background: white; padding: 0in; width: 15pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2014&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="20" valign="bottom" style="background: white; padding: 0in; width: 15pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2015&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="472" valign="bottom" style="background: #cceeff; padding: 0in; width: 354pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Balance at beginning of year&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="20" valign="bottom" style="background: #cceeff; padding: 0in; width: 15pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px;
 font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="40" valign="bottom" style="background: #cceeff; padding: 0in; width: 30pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;1,898&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="20" valign="bottom" style="background: #cceeff; padding: 0in; width: 15pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="40" valign="bottom" style="background: #cceeff; padding: 0in; width: 30pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;9,706&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="472" valign="bottom" style="background: white; padding: 0in; width: 354pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Revenue deferred&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="20" valign="bottom" style="background: white; padding: 0in; width: 15pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="40" valign="bottom" style="background: white; padding: 0in; width: 30pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;8,507&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="20" valign="bottom" style="background: white; padding: 0in; width: 15pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="40" valign="bottom" style="background: white; padding: 0in; width: 30pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;17,882&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="472" valign="bottom" style="background: #cceeff; padding: 0in; width: 354pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Benefit redeemed&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in;
 width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="20" valign="bottom" style="background: #cceeff; padding: 0in; width: 15pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="40" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 30pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(699&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="20" valign="bottom" style="background: #cceeff; padding: 0in; width: 15pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="40" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 30pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(6,651&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="472" valign="bottom" style="background: white; padding: 0in; width: 354pt;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Balance at end of year&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="20" valign="bottom" style="background: white; padding: 0in; width: 15pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="40" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 30pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;9,706&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="20" valign="bottom"
 style="background: white; padding: 0in; width: 15pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="40" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 30pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;20,937&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 10pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Cash and Cash Equivalents&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;Cash and cash equivalents consist of cash maintained in mostly FDIC-insured bank accounts and cash invested in bank overnight deposits and money market mutual funds. The Company places its cash and temporary cash investments with various financial institutions. The Company considers all highly liquid instruments purchased with a maturity of three months or less at the date of purchase to be cash equivalents.&lt;/p&gt;
&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Concentration of Credit Risk&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;The Company places its cash and temporary cash investments in bank overnight deposits and money market mutual funds with various financial institutions. Cash and cash equivalent balances are in excess of the FDIC insurance limit. The Company has not experienced any losses on its cash and cash equivalents.&lt;/p&gt;
&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Restricted Cash&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;A significant portion of the Company&amp;#8217;s revenues are funded by various federal and state government programs. The Company generally does not receive funds from these programs prior to the start of the corresponding academic term. The Company may be required to return certain funds for students who withdraw from the University during the academic term. There were no amounts payable for these obligations at December 31, 2015. At December 31, 2014, the Company had approximately $0.2 million of these unpaid obligations, which are recorded as restricted cash and included in other current assets in the consolidated balance sheet.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;As part of commencing operations in Pennsylvania in 2003, the Company was required to maintain a &amp;#8220;minimum protective endowment&amp;#8221; of at least $0.5 million in an interest-bearing account. These funds are required as long as the Company operates its campuses in the state. The Company holds these funds in an interest-bearing account which is included in other assets.&lt;/p&gt;
&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Tuition Receivable and Allowance for Doubtful Accounts&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font style="letter-spacing: -0.1pt;"&gt;The Company records tuition receivable and deferred revenue for its students upon the start of the academic term. Therefore, at the end of the quarter (and academic term), tuition receivable represents amounts due from students for educational services
 already provided and deferred revenue represents advance payments from students for academic services to be provided in the future. Tuition receivables are not collateralized; however, credit risk is minimized as a result of the diverse nature of the University&amp;#8217;s student base. An allowance for doubtful accounts is established primarily based upon historical collection rates by age of receivable, net of estimated recoveries. These collection rates &lt;/font&gt;&lt;font style="letter-spacing: -0.1pt;"&gt;incorporate historical performance based on a student&amp;#8217;s current enrollment status and likelihood of future enrollment. The Company periodically assesses its methodologies for estimating bad debts in consideration of actual experience.&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;The Company&amp;#8217;s tuition receivable and allowance for doubtful accounts were as follows as of December 31, 2014 and 2015 (in thousands):&lt;/p&gt;
&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 632px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="459" valign="bottom" style="background: white; padding: 0in; width: 344pt;"&gt;
&lt;p class="tchleft" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="59" valign="bottom" style="background: white; padding: 0in; width: 44pt;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;2014&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="24" valign="bottom" style="background: white; padding: 0in; width: 0.25in;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="59" valign="bottom" style="background: white; padding: 0in; width: 44pt;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;2015&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="459" valign="bottom" style="background: #cceeff; padding: 0in; width: 344pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Tuition receivable&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="43" valign="bottom" style="background: #cceeff; padding: 0in; width: 32pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;25,777&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="24" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.25in;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal;
 padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="43" valign="bottom" style="background: #cceeff; padding: 0in; width: 32pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;28,543&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="459" valign="bottom" style="background: white; padding: 0in; width: 344pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Allowance for doubtful accounts&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="43" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(8,835&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="24" valign="bottom" style="background: white; padding: 0in; width: 0.25in;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="43" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(10,024&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="459" valign="bottom" style="background: #cceeff; padding: 0in; width: 344pt;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Tuition receivable, net&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="43" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;16,942&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="24" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.25in;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular;
 font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="43" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;18,519&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 10pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;Approximately $1.6 million and $2.0 million of tuition receivable is included in other assets as of December 31, 2014 and 2015, respectively, because these amounts are expected to be collected after 12 months.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;The following table illustrates changes in the Company&amp;#8217;s allowance for doubtful accounts for each of the three years ended December 31, 2015 (in thousands):&lt;/p&gt;
&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="57%" valign="bottom" style="padding: 0in; width: 347px;"&gt;
&lt;p class="tchleft" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="padding: 0in; width: 59px;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2013&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="padding: 0in; width: 18px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="padding: 0in; width: 56px;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2014&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="padding: 0in; width: 18px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="padding: 0in; width: 56px;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2015&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="57%" valign="bottom" style="background: #cceeff; padding: 0in; width: 347px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular;
 font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Beginning allowance for doubtful accounts&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; width: 43px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;6,596&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 18px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; width: 42px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;10,303&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 18px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; width: 42px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;8,835&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="57%" valign="bottom" style="padding: 0in; width: 347px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Additions charged to expense&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 8px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="padding: 0in; width: 43px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;22,225&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 8px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="padding: 0in; width: 18px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color:
 black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="padding: 0in; width: 42px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;16,947&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="padding: 0in; width: 18px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="padding: 0in; width: 42px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;13,067&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="57%" valign="bottom" style="background: #cceeff; padding: 0in; width: 347px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Write-offs, net of recoveries&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 8px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 43px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(18,518&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 18px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 42px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(18,415&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family:
 timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 18px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 42px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(11,878&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="57%" valign="bottom" style="padding: 0in; width: 347px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Ending allowance for doubtful accounts&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none double; padding: 0in; width: 8px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="border-style: none none double; padding: 0in; width: 43px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;10,303&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 8px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="padding: 0in; width: 18px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="border-style: none none double; padding: 0in; width: 42px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;8,835&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="padding: 0in; width: 18px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext;
 border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="border-style: none none double; padding: 0in; width: 42px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;10,024&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 10pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Property and Equipment&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;Property and equipment are stated at cost less accumulated depreciation and amortization. In accordance with the Property, Plant and Equipment Topic, ASC 360, the carrying values of the Company&amp;#8217;s assets are re-evaluated when events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If it is determined that an impairment loss has occurred based on expected undiscounted future cash flows, then a loss is recognized using a fair value-based model. Through 2015, no such impairment loss had occurred. Depreciation and amortization of property and equipment is calculated using the straight-line method over the estimated useful lives ranging from 3 to 40 years. Depreciation and amortization amounted to $35.6 million, $20.6 million and $18.1 million for the years ended December 31, 2013, 2014, and 2015, respectively.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;Construction in progress includes costs of computer software developed for internal use, which is accounted for in accordance with the Internal-Use Software Topic, ASC 350-40. Computer software development costs that are incurred in the preliminary project stage are expensed as incurred. During the development stage, direct consulting costs, payroll, and payroll-related costs for employees that are directly associated with the project are capitalized and will be amortized over the estimated useful life of the software once placed into operation. Purchases of property and equipment and changes in accounts payable for each of the three years in the period ended December 31, 2015 in the Consolidated Statements of Cash Flows have been adjusted to exclude non-cash purchases of property and equipment transactions during that period.&lt;/p&gt;
&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Fair Value&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;The Fair Value Measurement Topic, ASC 820-10 (&amp;#8220;ASC 820-10&amp;#8221;), establishes a framework for measuring fair value, establishes a fair value hierarchy based upon the observability of inputs used to measure fair value, and expands disclosures about fair value measurements. Assets and liabilities are classified in their entirety within the fair value hierarchy based on the lowest level input that is significant to the fair value measurement. Under ASC 820-10, fair value of an investment is the price that would be received to sell an asset or to transfer a liability to an entity in an orderly transaction between market participants at the measurement date. The hierarchy gives the highest priority to assets and liabilities with readily available quoted prices in an active market and lowest priority to unobservable inputs which require a higher degree of judgment when measuring fair value, as follows:&lt;/p&gt;
&lt;p class="blm" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt 40pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 13pt;"&gt;&amp;#8226;&lt;/font&gt;&lt;/font&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/font&gt;&amp;#160;Level 1 assets or liabilities use quoted prices in active markets for identical assets or liabilities as of the measurement date;&lt;/p&gt;
&lt;p class="blm" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt 40pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 13pt;"&gt;&amp;#8226;&lt;/font&gt;&lt;/font&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/font&gt;&amp;#160;Level 2 assets or liabilities use observable inputs, other than quoted market prices, that are either directly or indirectly observable in the marketplace for identical or similar assets and liabilities; and&lt;/p&gt;
&lt;p class="blm" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 7pt 0in 0pt 40pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px;
 white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 13pt;"&gt;&amp;#8226;&lt;/font&gt;&lt;/font&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/font&gt;&amp;#160;Level 3 assets or liabilities use unobservable inputs that are supported by little or no market activity.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 7pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;The Company&amp;#8217;s assets and liabilities that are subject to fair value measurement are categorized in one of the three levels above. Fair values are based on the inputs available at the measurement dates, and may rely on certain assumptions that may affect the valuation of fair value for certain assets or liabilities.&lt;/p&gt;
&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Goodwill and Indefinite-Lived Intangible Assets&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 7pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;Goodwill represents the excess of the purchase price of an acquired business over the amount assigned to the assets acquired and liabilities assumed. Indefinite-lived intangible assets, which include a trade name, are recorded at fair market value on their acquisition date. An indefinite life was assigned to the trade name because it has the continued ability to generate cash flows indefinitely.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 7pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;Goodwill and the indefinite-lived intangible asset are assessed at least annually for impairment during the three-month period ending September 30, or more frequently if events occur or circumstances change between annual tests that would more likely than not reduce the fair value of the respective reporting unit below its carrying amount. Under Accounting Standards Update No. 2011-08,&amp;#160;&lt;font class="italic" style="font-style: italic;"&gt;Intangibles-Goodwill and Other (Topic 350): Testing Goodwill for Impairment&lt;/font&gt;, the Company is permitted, but not required, to first assess qualitative factors to determine whether it is necessary to perform the more thorough quantitative goodwill impairment test. Following its qualitative assessment, the Company determined it was not more likely than not that the fair value of its goodwill was less than the carrying amount and, accordingly, no impairment existed in 2015.&lt;/p&gt;
&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 13pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Long-Term Liabilities&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 7pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;Included in the Company&amp;#8217;s long-term liabilities are amounts related to the Company&amp;#8217;s operating leases, deferred payments related to an acquisition completed in 2011, the fair value of the Company&amp;#8217;s interest rate swap, and the non-current portion of deferred revenue. In conjunction with the opening of some campuses and other facilities, the Company was reimbursed by the lessors for improvements made to those leased properties. In accordance with the Operating Leases Subtopic, ASC 840-20 (&amp;#8220;ASC 840-20&amp;#8221;), these underlying assets were capitalized as leasehold improvements and a liability was established for the reimbursements. The leasehold improvements and the liability are amortized on a straight-line basis over the corresponding lease terms, which generally range from five to ten years. In accordance with ASC 840-20, the Company records rent expense on a straight-line basis over the initial term of a lease. The cumulative difference between the rent payment and the straight-line rent expense is recorded as a liability. The Company also records the non-current portion of the gain related to the sale and lease back of a campus facility as a long-term liability.&lt;/p&gt;
&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Accounting for Derivative Instruments and Hedging Activities&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 7pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;On the date that the Company enters into a derivative contract, it designates the derivative as a hedge of (a) a forecasted transaction or (b) the variability of cash flows that are to be received or paid in connection with a recognized asset or liability (a cash flow hedge). All derivatives are recognized in the balance sheet at their fair value.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 7pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;Changes in the fair value of a derivative that is highly effective and that is designated and qualifies as a cash flow hedge, to the extent that the hedge is effective, are recorded, net of income tax, in
 other comprehensive income, until earnings are affected by the variability of cash flows of the hedged transaction (e.g., until periodic settlements of a variable-rate asset or liability are recorded in earnings). Any hedge ineffectiveness (which represents the amount by which the changes in the fair value of the derivative exceed the variability in the cash flows of the forecasted transaction) is recorded in current-period earnings.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 7pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;The Company formally documents all relationships between hedging instruments and hedged items, as well as its risk-management objective and strategy for undertaking various hedge transactions. The Company also formally assesses (both at the hedge&amp;#8217;s inception and on an ongoing basis) whether the derivatives that are used in hedging transactions have been highly effective in offsetting changes in the fair value or cash flows of hedged items and whether those derivatives may be expected to remain highly effective in future periods. When it is determined that a derivative is not (or has ceased to be) highly effective as a hedge, the Company discontinues hedge accounting prospectively.&lt;/p&gt;
&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Authorized Stock&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;The Company has authorized 20,000,000 shares of common stock, par value $.01, of which 10,903,341 and 11,027,177 shares were issued and outstanding as of December 31, 2014 and 2015, respectively. The Company also has authorized 8,000,000 shares of preferred stock, none of which has been issued or outstanding since 2004. Before any preferred stock may be issued in the future, the Board of Directors would need to establish the preferences, conversion or other rights, voting powers, restrictions, limitations as to dividends, qualifications, and the terms or conditions of the redemption of the preferred stock.&lt;/p&gt;
&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Advertising Costs&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;The Company expenses advertising costs in the quarter incurred, except for costs associated with the production of media commercials which are expensed when the commercial is first aired.&lt;/p&gt;
&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Stock-Based Compensation&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;As required by the Stock Compensation Topic, ASC 718, the Company measures and recognizes compensation expense for all share-based payment awards made to employees and directors, including employee stock options, restricted stock, restricted stock units, and employee stock purchases related to the Company&amp;#8217;s Employee Stock Purchase Plan, based on estimated fair values. Stock-based compensation expense recognized in the Consolidated Statements of Income for each of the three years in the period ended December 31, 2015 is based on awards ultimately expected to vest and, therefore, has been adjusted for estimated forfeitures. The Company is required to estimate forfeitures at the time of grant and revise the estimate, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The forfeiture rate used is based on historical experience. The Company also assesses the likelihood that performance criteria associated with performance-based awards will be met. If it is determined that it is more likely than not that performance criteria will not be achieved, the Company revises its estimate of the number of shares it believes will ultimately vest.&lt;/p&gt;
&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Net Income Per Share&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;Basic earnings per share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the periods. Diluted earnings per share reflects the potential dilution that could occur assuming conversion or exercise of all dilutive unexercised stock options, restricted stock and restricted stock units. The dilutive effect of stock awards was determined using the treasury stock method. Under the treasury stock method, all of the following are assumed to be used to repurchase shares of the Company&amp;#8217;s common stock: (1) the proceeds received from the exercise of stock options, (2) the amount of compensation cost associated with the stock awards for future service not yet
 recognized by the Company, and (3) the amount of tax benefits that would be recorded in additional paid-in capital when the stock awards become deductible for income tax purposes. Stock options are not included in the computation of diluted earnings per share when the stock option exercise price of an individual grant exceeds the average market price for the period. During the year ended December 31, 2015, the Company had no issued and outstanding stock options that were excluded from the calculation.&amp;#160;&lt;font style="letter-spacing: -0.05pt;"&gt;Set forth below is a reconciliation of shares used to calculate basic and diluted earnings per share for each of the three years ended December 31, 2015 (in thousands):&lt;/font&gt;&lt;/p&gt;
&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="60%" valign="bottom" style="padding: 0in; width: 364px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 48px;"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2013&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="padding: 0in; width: 23px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 48px;"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2014&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="padding: 0in; width: 22px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 47px;"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2015&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="60%" valign="bottom" style="background: #cceeff; padding: 0in; width: 364px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Weighted average shares outstanding used to compute basic earnings per share&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 48px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;10,584&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 23px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 48px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black;
 line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;10,561&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 22px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 47px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;10,588&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="60%" valign="bottom" style="padding: 0in; width: 364px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Incremental shares issuable upon the assumed exercise of stock&lt;br /&gt;options&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 48px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="padding: 0in; width: 23px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 48px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;6&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="padding: 0in; width: 22px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 47px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;6&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="60%" valign="bottom" style="background: #cceeff; padding: 0in; width: 364px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Unvested restricted stock and restricted stock units&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 48px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;40&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 23px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 48px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt;
 padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;83&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 22px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 47px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;146&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="60%" valign="bottom" style="padding: 0in; width: 364px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Shares used to compute diluted earnings per share&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="border-style: none none double; padding: 0in; width: 48px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;10,624&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="padding: 0in; width: 23px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="border-style: none none double; padding: 0in; width: 48px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;10,650&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="padding: 0in; width: 22px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="border-style: none none double; padding: 0in; width: 47px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;10,740&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p&gt;&lt;/p&gt;
&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Income Taxes&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;The Company provides for deferred income taxes based on temporary differences between financial statement and income tax bases of assets and liabilities using enacted tax rates in effect in the year in which the differences are expected to reverse.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;The Income Taxes Topic, ASC 740, requires the company to determine whether uncertain tax positions should be recognized within the Company&amp;#8217;s financial statements. The Company recognizes interest and penalties, if any, related to uncertain tax positions in income tax expense. Uncertain tax positions are recognized when a tax position, based solely on its technical merits, is determined to be more likely than not to be sustained upon examination. Upon determination, uncertain tax positions
 are measured to determine the amount of benefit that is greater than 50% likely to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. A tax position is derecognized if it no longer meets the more likely than not threshold of being sustained.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;The tax years 2012-2015 remain open for Federal tax examination and the tax years 2011-2015 remain open to examination by state and local taxing jurisdictions in which the Company is subject.&lt;/p&gt;
&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Use of Estimates&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of expenses during the period reported. The most significant management estimates included allowances for doubtful accounts, the useful lives of property and equipment, fair value of future contractual operating lease obligations, potential sublease income and vacancy periods, accrued expenses, forfeiture rates and the likelihood of achieving performance criteria for stock-based awards, value of free courses earned by students that will be redeemed in the future, valuation of goodwill, intangible assets and the interest rate swap arrangement, and the provision for income taxes. Actual results could differ from those estimates.&lt;/p&gt;
&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Comprehensive Income&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;Comprehensive income consists of net income and the change in the fair value of the Company&amp;#8217;s interest rate swap, net of income taxes.&lt;/p&gt;
&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Recent Accounting Pronouncements&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;In May 2014, the FASB issued ASU No. 2014-09, &amp;#8220;Revenue from Contracts with Customers (Topic 606)&amp;#8221; (&amp;#8220;ASU 2014-09&amp;#8221;). The standard establishes a new recognition model that requires revenue to be recognized in a manner to depict the transfer of goods or services to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services. ASU 2014-09 is effective for fiscal years beginning after December 15, 2017. The Company currently is evaluating the impact that the standard will have on its financial condition, results of operations, and disclosures.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;In April 2015, the FASB issued ASU No. 2015-03, &amp;#8220;Interest - Imputation of Interest (Subtopic 835-30)&amp;#8221; (&amp;#8220;ASU 2015-03&amp;#8221;). The new guidance requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 is effective for financial statements issued for fiscal years beginning after December 15, 2015. The new guidance will be applied on a retrospective basis, and early adoption is permitted. The Company currently is evaluating the impact that the standard will have on its financial condition, results of operations, and disclosures.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;In November 2015, the FASB issued ASU No. 2015-17, &amp;#8220;Balance Sheet Classification of Deferred Taxes&amp;#8221; (&amp;#8220;ASU 2015-17&amp;#8221;). The new guidance requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The amendments in ASU 2015-17 are effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. The Company intends to adopt the standard during the first quarter of 2016.&lt;/p&gt;</us-gaap:SignificantAccountingPoliciesTextBlock>
<us-gaap:RestructuringAndRelatedActivitiesDisclosureTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;p class="h2note" style="color: black; font-style: normal; font-variant: normal; letter-spacing: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 12pt 0in 0.0001pt 20pt; text-indent: -20pt; line-height: 12pt; page-break-after: avoid; font-size: 10pt; font-family: timesnewromanpsstd-bold; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;3.&lt;/font&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&amp;#160;Restructuring and Related Charges&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="color: black; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 6pt 0in 0.0001pt; text-indent: 20pt; line-height: 12pt; font-size: 10pt; font-family: timesnewromanpsstd-regular;"&gt;In October 2013, the Company implemented a restructuring to better align the Company&amp;#8217;s resources with its current student enrollments. This restructuring included the closing of 20 physical locations and reductions in the number of campus-based and corporate employees.&lt;/p&gt;
&lt;p class="textind" style="color: black; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 6pt 0in 10pt; text-indent: 20pt; line-height: 12pt; font-size: 10pt; font-family: timesnewromanpsstd-regular;"&gt;T&lt;font style="font-family: 'times new roman', times, serif;"&gt;he following details the changes in the Company&amp;#8217;s restructuring liability by type of cost during the three years ended December 31, 2015 (in thousands):&lt;/font&gt;&lt;/p&gt;
&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 628px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: white;"&gt;
&lt;p class="tchleft" style="margin: 0in 0in 0.0001pt; line-height: normal; border: none; padding: 0in; font-size: 8pt; font-family: timesnewromanpsstd-bold; color: black; font-weight: bold;"&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="64" valign="bottom" style="width: 48pt; padding: 0in; background: white;" colspan="3"&gt;
&lt;div style="border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0.0001pt; line-height: normal; border: none; padding: 0in 0in 0pt; text-align: center; font-size: 8pt; font-family: timesnewromanpsstd-bold; color: black; font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Lease&lt;br /&gt;and Related&lt;br /&gt;Costs, Net&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="89" valign="bottom" style="width: 67pt; padding: 0in; background: white;" colspan="3"&gt;
&lt;div style="border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0.0001pt; line-height: normal; border: none; padding: 0in 0in 0pt; text-align: center; font-size: 8pt; font-family: timesnewromanpsstd-bold; color: black; font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Severance&lt;br /&gt;and Other&lt;br /&gt;Employee&lt;br /&gt;Separation Costs&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="64" valign="bottom" style="width: 48pt; padding: 0in; background: white;" colspan="3"&gt;
&lt;div style="border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0.0001pt; line-height: normal; border: none; padding: 0in 0in 0pt; text-align: center; font-size: 8pt; font-family: timesnewromanpsstd-bold; color: black; font-weight: bold;"&gt;Total&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbody" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 10pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;Balance at December 31, 2012&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodyrightalign" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt;
 padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodyrightalign" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="73" valign="bottom" style="width: 55pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodyrightalign" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyind1" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 20pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&lt;font lang="en-gb"&gt;Restructuring and other charges&lt;font class="superscript" style="font-size: 6pt; vertical-align: super;"&gt;(1)&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;47,792&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="73" valign="bottom" style="width: 55pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;6,898&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold;
 color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;54,690&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyind1" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 20pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;Payments&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;(103&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodybracket" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="73" valign="bottom" style="width: 55pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;(6,120&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodyrule1" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;(6,223&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodybracket" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyind1" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 20pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&lt;font lang="en-gb"&gt;Adjustments&lt;font class="superscript" style="font-size: 6pt; vertical-align: super;"&gt;(2)&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule1brack" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size:
 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule1brack" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;(5,139&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="73" valign="bottom" style="width: 55pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;1,438&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule1brack" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule1brack" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;(3,701&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbody" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 10pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;Balance at December 31, 2013&lt;font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 6pt; line-height: normal; font-family: timesnewromanpsstd-bold;"&gt;&lt;sup&gt;(1)&lt;/sup&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border: none; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; border: none; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;42,550&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font
 style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border: none; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="73" valign="bottom" style="width: 55pt; border: none; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;2,216&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border: none; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; border: none; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;44,766&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyind1" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 20pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;Payments&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: white;"&gt;
&lt;p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;(12,418&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p align="left" class="tbodybracket" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="73" valign="bottom" style="width: 55pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;(2,138&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p align="left" class="tbodybracket" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: white;"&gt;
&lt;p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;(14,556&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p align="left" class="tbodybracket" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="352" valign="bottom" style="width: 264pt; padding: 0in;
 background: #cceeff;"&gt;
&lt;p class="tbodyind1" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 20pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&lt;font lang="en-gb"&gt;Adjustments&lt;font class="superscript" style="font-size: 6pt; vertical-align: super;"&gt;(2)&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrule1brack" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrule1brack" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;(2,849&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="73" valign="bottom" style="width: 55pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;(78&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodyrule1" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrule1brack" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrule1brack" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;(2,927&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: white;"&gt;
&lt;p class="tbody" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 10pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;Balance at December 31, 2014&lt;font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 6pt; line-height: normal; font-family: timesnewromanpsstd-bold;"&gt;&lt;sup&gt;(1)&lt;/sup&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border: none; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; border: none; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;27,283&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font
 style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border: none; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="73" valign="bottom" style="width: 55pt; border: none; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border: none; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; border: none; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;27,283&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyind1" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 20pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;Payments&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;(7,754&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodybracket" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="73" valign="bottom" style="width: 55pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family:
 timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;(7,754&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodybracket" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyind1" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 20pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&lt;font lang="en-gb"&gt;Adjustments&lt;font class="superscript" style="font-size: 6pt; vertical-align: super;"&gt;(2)&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;526&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="73" valign="bottom" style="width: 55pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;526&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbody" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 10pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;Balance at December 31, 2015&lt;font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 6pt; line-height: normal; font-family: timesnewromanpsstd-bold;"&gt;&lt;sup&gt;(1)&lt;/sup&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in
 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodyrule2" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrule2" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;20,055&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodyrule2" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="73" valign="bottom" style="width: 55pt; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrule2" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodyrule2" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrule2" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;20,055&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p class="tablefootnotef" style="color: black; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 0in 0in 0.0001pt 20pt; border: none; text-indent: -20pt; padding: 0in; font-size: 8pt; font-family: timesnewromanpsstd-regular;"&gt;____________&lt;/p&gt;
&lt;p class="tablefootnotef" style="color: black; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 0in 0in 0.0001pt 20pt; border: none; text-indent: -20pt; padding: 0in; font-size: 8pt; font-family: timesnewromanpsstd-regular;"&gt;(1)&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&amp;#160;The current portion of restructuring liabilities was $6.0 million and $4.8 million as of December 31, 2014 and December 31, 2015, respectively, which are included in accounts payable and accrued expenses. The long-term portion is included in other long-term liabilities.&lt;/p&gt;
&lt;p class="tablefootnotem" style="color: black; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 1pt 0in 0.0001pt 20pt; text-indent: -20pt; line-height: 10pt; font-size: 8pt; font-family: timesnewromanpsstd-regular;"&gt;(2)&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&amp;#160;Adjustments for lease and related costs include accretion of interest on lease costs, partially offset by changes in the timing and expected income from sublease agreements signed during the period. Adjustments for severance and other employee separation costs include amounts related to employees who were re-hired to other roles within the Company and were not paid severance.&lt;/p&gt;
&lt;p class="textind" style="color: black; font-style:
 normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 6pt 0in 0.0001pt; text-indent: 20pt; line-height: 12pt; font-size: 10pt; font-family: timesnewromanpsstd-regular;"&gt;&lt;font class="bolditalic" style="font-weight: bold; font-style: italic;"&gt;Lease and Related Costs, Net&lt;/font&gt;&amp;#160;&lt;font class="italic" style="font-style: italic;"&gt;&amp;#8212;&lt;/font&gt;&amp;#160;The Company recorded approximately $36.0 million of aggregate charges representing the estimated fair value of future contractual operating lease obligations, which were recorded in the fourth quarter of 2013, when the Company ceased using the respective facilities. Lease obligations, some of which continue through 2022, are measured at fair value using a discounted cash flow approach encompassing significant unobservable inputs (Level 3). The estimation of future cash flows includes non-cancelable contractual lease costs over the remaining terms of the leases discounted at the Company&amp;#8217;s marginal borrowing rate of 4.5%, partially offset by estimated future sublease rental income, which involves significant judgment. The Company&amp;#8217;s estimate of the amount and timing of sublease rental income considers subleases that have been executed and subleases expected to be executed based on current commercial real estate market data and conditions, and other qualitative factors specific to the facilities. The estimates are subject to adjustment as market conditions change or as new information becomes available, including the execution of additional sublease agreements.&lt;/p&gt;
&lt;p class="textind" style="color: black; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 6pt 0in 0.0001pt; text-indent: 20pt; line-height: 12pt; font-size: 10pt; font-family: timesnewromanpsstd-regular;"&gt;&lt;font class="bolditalic" style="font-weight: bold; font-style: italic;"&gt;Severance and Other Employee Separation Costs&lt;/font&gt;&amp;#160;&amp;#8212; The Company implemented workforce reductions in order to better align its human capital resources with the evolving needs of students. A total of $6.9 million in severance and other employee separation costs were recorded in the year ended December 31, 2013, all of which has subsequently been paid.&lt;/p&gt;</us-gaap:RestructuringAndRelatedActivitiesDisclosureTextBlock>
<us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;p class="h2note" style="font: bold 10pt/12pt timesnewromanpsstd-bold; margin: 11.6pt 0in 0pt 20pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font style="font-size: 9.5pt;"&gt;4.&lt;/font&gt;&lt;/font&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/font&gt;&amp;#160;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font style="font-size: 9.5pt;"&gt;Property and Equipment&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 5.8pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font style="font-size: 9.5pt;"&gt;The composition of property and equipment as of December 31, 2014 and 2015 is as follows (in thousands):&lt;/font&gt;&lt;/p&gt;
&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 624px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="360" valign="bottom" style="background: white; padding: 0in; width: 3.75in;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="68" valign="bottom" style="background: white; padding: 0in; width: 51pt;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2014&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="68" valign="bottom" style="background: white; padding: 0in; width: 51pt;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2015&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="96" valign="bottom" style="background: white; padding: 0in; width: 1in;"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Estimated useful&lt;br /&gt;life (years)&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="360" valign="bottom" style="background: #cceeff; padding: 0in; width: 3.75in;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Land&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="52" valign="bottom" style="background: #cceeff; padding: 0in; width: 39pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;7,138&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="52" valign="bottom" style="background: #cceeff; padding: 0in; width: 39pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;7,138&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p
 class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="96" valign="bottom" style="background: #cceeff; padding: 0in; width: 1in;"&gt;
&lt;p class="tbodycenteralign" style="margin: 0in 0in 0pt; text-align: center; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="360" valign="bottom" style="background: white; padding: 0in; width: 3.75in;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Buildings and improvements&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="52" valign="bottom" style="background: white; padding: 0in; width: 39pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;18,998&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="52" valign="bottom" style="background: white; padding: 0in; width: 39pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;19,109&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="96" valign="bottom" style="background: white; padding: 0in; width: 1in;"&gt;
&lt;p class="tbodycenteralign" style="margin: 0in 0in 0pt; text-align: center; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;5&amp;#8211;40&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="360" valign="bottom" style="background: #cceeff; padding: 0in; width: 3.75in;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Furniture, equipment, and computer hardware and software&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="52" valign="bottom" style="background: #cceeff; padding: 0in; width: 39pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;153,417&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="52" valign="bottom" style="background: #cceeff; padding: 0in; width: 39pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;150,597&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font
 style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="96" valign="bottom" style="background: #cceeff; padding: 0in; width: 1in;"&gt;
&lt;p class="tbodycenteralign" style="margin: 0in 0in 0pt; text-align: center; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;5&amp;#8211;10&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="360" valign="bottom" style="background: white; padding: 0in; width: 3.75in;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Leasehold improvements&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="52" valign="bottom" style="background: white; padding: 0in; width: 39pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;38,732&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="52" valign="bottom" style="background: white; padding: 0in; width: 39pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;38,639&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="96" valign="bottom" style="background: white; padding: 0in; width: 1in;"&gt;
&lt;p class="tbodycenteralign" style="margin: 0in 0in 0pt; text-align: center; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;3&amp;#8211;10&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="360" valign="bottom" style="background: #cceeff; padding: 0in; width: 3.75in;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Construction in progress&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="52" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 39pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;1,942&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="52" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 39pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;4,251&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family:
 timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="96" valign="bottom" style="background: #cceeff; padding: 0in; width: 1in;"&gt;
&lt;p class="tbodycenteralign" style="margin: 0in 0in 0pt; text-align: center; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="360" valign="bottom" style="background: white; padding: 0in; width: 3.75in;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; border: currentcolor; border-image: none; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="52" valign="bottom" style="background: white; padding: 0in; border: currentcolor; border-image: none; width: 39pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;220,227&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; border: currentcolor; border-image: none; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="52" valign="bottom" style="background: white; padding: 0in; border: currentcolor; border-image: none; width: 39pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;219,734&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="96" valign="bottom" style="background: white; padding: 0in; width: 1in;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="360" valign="bottom" style="background: #cceeff; padding: 0in; width: 3.75in;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Accumulated depreciation and amortization&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="52" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 39pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(137,961&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="52" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 39pt;
 border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(142,595&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="96" valign="bottom" style="background: #cceeff; padding: 0in; width: 1in;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="360" valign="bottom" style="background: white; padding: 0in; width: 3.75in;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="52" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 39pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;82,266&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="52" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 39pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;77,139&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="96" valign="bottom" style="background: white; padding: 0in; width: 1in;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 10pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font style="font-size: 9.5pt;"&gt;Construction in progress includes costs associated with the construction and renovation of campuses and the development of information technology applications. In 2014 and 2015, the Company recorded leasehold improvements of $0.1 million and $2.9 million, respectively, which were reimbursed by lessors as lease incentives. In 2014 and 2015, the Company wrote off $13.6 million and $13.3 million, respectively, in fixed assets that were fully depreciated and no longer in service.&lt;/font&gt;&lt;/p&gt;</us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock>
<us-gaap:FairValueDisclosuresTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;p class="h2note" style="color: black; font-style: normal; font-variant: normal; letter-spacing: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 11.6pt 0in 0.0001pt 20pt; text-indent: -20pt; line-height: 12pt; page-break-after: avoid; font-size: 10pt; font-family: timesnewromanpsstd-bold; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font style="font-size: 9.5pt;"&gt;5.&lt;/font&gt;&lt;/font&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/font&gt;&amp;#160;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font style="font-size: 9.5pt;"&gt;Fair Value Measurement&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="color: black; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 5.8pt 0in 10pt; text-indent: 20pt; line-height: 12pt; font-size: 10pt; font-family: timesnewromanpsstd-regular;"&gt;&lt;font style="font-size: 9.5pt;"&gt;Assets and liabilities measured at fair value on a recurring basis consist of the following as of December 31, 2015 (in thousands):&lt;/font&gt;&lt;/p&gt;
&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="width: 215px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="width: 65px; padding: 0in;" colspan="2"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="width: 14px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="46%" valign="bottom" style="width: 279px; padding: 0in;" colspan="12"&gt;
&lt;div style="border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0.0001pt; line-height: normal; border: none; padding: 0in 0in 0pt; text-align: center; font-size: 8pt; font-family: timesnewromanpsstd-bold; color: black; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Fair Value Measurements at Reporting Date Using&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="width: 215px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="width: 65px; padding: 0in;" colspan="2"&gt;
&lt;div style="border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0.0001pt; line-height: normal; border: none; padding: 0in 0in 0pt; text-align: center; font-size: 8pt; font-family: timesnewromanpsstd-bold; color: black; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;December 31, 2015&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="width: 14px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="14%" valign="bottom" style="width: 85px; padding: 0in;" colspan="2"&gt;
&lt;div style="border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0.0001pt; line-height: normal; border: none; padding: 0in 0in 0pt; text-align: center; font-size: 8pt; font-family: timesnewromanpsstd-bold; color: black; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family:
 timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="width: 14px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="width: 63px; padding: 0in;" colspan="2"&gt;
&lt;div style="border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0.0001pt; line-height: normal; border: none; padding: 0in 0in 0pt; text-align: center; font-size: 8pt; font-family: timesnewromanpsstd-bold; color: black; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Significant&lt;br /&gt;Other&lt;br /&gt;Observable&lt;br /&gt;Inputs&lt;br /&gt;(Level 2)&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="width: 14px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="width: 67px; padding: 0in;" colspan="2"&gt;
&lt;div style="border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0.0001pt; line-height: normal; border: none; padding: 0in 0in 0pt; text-align: center; font-size: 8pt; font-family: timesnewromanpsstd-bold; color: black; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Significant Unobservable Inputs&lt;br /&gt;(Level 3)&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="width: 215px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbody" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 10pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Assets:&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 7px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="width: 58px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="width: 14px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 7px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="width: 78px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="width: 14px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 7px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family:
 timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="width: 56px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="width: 14px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 7px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="width: 60px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="width: 215px; padding: 0in;"&gt;
&lt;p class="tbody" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 10pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;Cash equivalents:&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 7px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="width: 58px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="width: 14px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 7px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="width: 78px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="width: 14px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 7px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="width: 56px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="width: 14px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width:
 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 7px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="width: 60px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="width: 215px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyind1" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 20pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;Money market funds&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 7px; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodyrule1" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="width: 58px; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;100&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="width: 14px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 7px; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodyrule1" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="width: 78px; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;100&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="width: 14px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 7px; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodyrule1" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="width: 56px; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="width: 14px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 7px; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in;
 background: #cceeff;"&gt;
&lt;p align="left" class="tbodyrule1" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="width: 60px; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="width: 215px; padding: 0in;"&gt;
&lt;p class="tbodyind1" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 20pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&lt;font lang="en-gb"&gt;Total assets at fair value on a recurring basis&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 7px; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in;"&gt;
&lt;p align="left" class="tbodyrule2" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="width: 58px; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in;"&gt;
&lt;p class="tbodyrule2" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;100&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="width: 14px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 7px; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in;"&gt;
&lt;p align="left" class="tbodyrule2" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="width: 78px; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in;"&gt;
&lt;p class="tbodyrule2" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;100&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="width: 14px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 7px; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in;"&gt;
&lt;p align="left" class="tbodyrule2" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="width: 56px; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in;"&gt;
&lt;p class="tbodyrule2" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="width: 14px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 7px; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in;"&gt;
&lt;p align="left" class="tbodyrule2" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="width: 60px; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in;"&gt;
&lt;p class="tbodyrule2" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size:
 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="width: 215px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbody" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 10pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Liabilities:&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 7px; border: none; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="width: 58px; border: none; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="width: 14px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 7px; border: none; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="width: 78px; border: none; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="width: 14px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 7px; border: none; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="width: 56px; border: none; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="width: 14px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 7px; border: none; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="width: 60px; border: none; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="width: 215px; padding: 0in;"&gt;
&lt;p class="tbody" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 10pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;Other long-term liabilities:&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family:
 minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 7px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="width: 58px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="width: 14px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 7px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="width: 78px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="width: 14px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 7px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="width: 56px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="width: 14px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 7px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="width: 60px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="width: 215px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyind1" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 20pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;Deferred payments&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 7px; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodyrule1" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="width: 58px; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;3,278&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family:
 minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="width: 14px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 7px; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodyrule1" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="width: 78px; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="width: 14px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 7px; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodyrule1" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="width: 56px; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="width: 14px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 7px; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodyrule1" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="width: 60px; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;3,278&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="width: 215px; padding: 0in;"&gt;
&lt;p class="tbodyind1" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 20pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&lt;font lang="en-gb"&gt;Total liabilities at fair value on a recurring basis&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 7px; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in;"&gt;
&lt;p align="left" class="tbodyrule2" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="width: 58px; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in;"&gt;
&lt;p class="tbodyrule2" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;3,278&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="width: 14px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in
 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 7px; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in;"&gt;
&lt;p align="left" class="tbodyrule2" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="width: 78px; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in;"&gt;
&lt;p class="tbodyrule2" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="width: 14px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 7px; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in;"&gt;
&lt;p align="left" class="tbodyrule2" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="width: 56px; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in;"&gt;
&lt;p class="tbodyrule2" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="width: 14px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 9px; padding: 0in;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="width: 7px; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in;"&gt;
&lt;p align="left" class="tbodyrule2" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="width: 60px; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in;"&gt;
&lt;p class="tbodyrule2" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;3,278&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&amp;#160;&lt;/div&gt;
&lt;div&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 5.8pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font style="font-size: 9.5pt;"&gt;Assets and liabilities measured at fair value on a recurring basis consist of the following as of December 31, 2014 (in thousands):&lt;/font&gt;&lt;/p&gt;
&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="padding: 0in; width: 211px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="padding: 0in; width: 66px;" colspan="2"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width:
 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="45%" valign="bottom" style="padding: 0in; width: 271px;" colspan="12"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Fair Value Measurements at Reporting Date Using&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="padding: 0in; width: 211px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="padding: 0in; width: 66px;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;December 31,&lt;br /&gt;2014&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="14%" valign="bottom" style="padding: 0in; width: 84px;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Quoted Prices in&lt;br /&gt;Active Markets for&lt;br /&gt;Identical&lt;br /&gt;Assets/Liabilities&lt;br /&gt;(Level 1)&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="padding: 0in; width: 61px;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Significant&lt;br /&gt;Other&lt;br /&gt;Observable&lt;br /&gt;Inputs&lt;br /&gt;(Level 2)&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="padding: 0in; width: 64px;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font
 class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Significant&lt;br /&gt;Unobservable&lt;br /&gt;Inputs&lt;br /&gt;(Level 3)&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 211px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Assets:&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 58px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="background: #cceeff; padding: 0in; width: 77px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 54px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 57px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="padding: 0in; width: 211px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Cash equivalents:&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%"
 valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 8px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="padding: 0in; width: 58px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="padding: 0in; width: 77px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="padding: 0in; width: 54px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="padding: 0in; width: 57px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 211px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Money market funds&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size:
 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 58px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;8,275&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="background: #cceeff; padding: 0in; width: 77px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;8,275&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 54px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 57px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="padding: 0in; width: 211px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Interest rate swaps&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 8px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 58px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;143&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family:
 timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 77px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 54px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;143&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 57px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 211px;"&gt;
&lt;p class="tbodyind2" style="margin: 0in 0in 0pt 30pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Total assets at fair value on a recurring basis&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 8px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 58px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;8,418&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family:
 timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 77px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;8,275&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 54px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;143&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 57px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="padding: 0in; width: 211px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Liabilities:&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 8px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 58px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family:
 minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 77px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 54px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 57px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 211px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Other long-term liabilities:&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 58px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p
 class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="background: #cceeff; padding: 0in; width: 77px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 54px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 57px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="padding: 0in; width: 211px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Deferred payments&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 8px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 58px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2,398&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none;
 text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 77px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 54px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 57px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2,398&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 211px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Total liabilities at fair value on a recurring basis&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 8px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 58px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2,398&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in
 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 77px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 54px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 57px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2,398&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 10pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The Company measures the above items on a recurring basis at fair value as follows:&lt;/p&gt;
&lt;p class="blm" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt 40pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 13pt;"&gt;&amp;#8226;&lt;/font&gt;&lt;/font&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/font&gt;&amp;#160;Money market funds &amp;#8212; Classified in Level 1 is excess cash the Company holds in both taxable and tax-exempt money market funds and are included in Cash and cash equivalents in the accompanying Consolidated Balance Sheets. The Company records any net unrealized gains and losses for changes in fair value as a component of Accumulated other comprehensive income in Stockholders&amp;#8217; equity. The Company&amp;#8217;s cash and cash equivalents held at December 31, 2014 and 2015, approximate fair value and are not disclosed in the above tables because of the short-term nature of the financial instruments.&lt;/p&gt;
&lt;p class="blm" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt 40pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 13pt;"&gt;&amp;#8226;&lt;/font&gt;&lt;/font&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/font&gt;&amp;#160;Interest rate swap &amp;#8212; The Company had an interest rate swap with a notional amount of $118.8 million as of December 31, 2014, used to minimize the interest rate exposure and fix the variable interest rate on a portion of the Company&amp;#8217;s variable rate debt. The swap was classified within Level 2 and was valued using readily available pricing sources which utilize market observable inputs including the current variable interest rate for similar types of instruments. The swap was terminated when the Company repaid all its outstanding debt in July 2015 upon completion of its Amended Credit Facility (see Note 6).&lt;/p&gt;
&lt;p class="blm" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt 40pt; color: black; text-transform: none; text-indent:
 -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 13pt;"&gt;&amp;#8226;&lt;/font&gt;&lt;/font&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/font&gt;&amp;#160;Deferred payments &amp;#8212; The Company acquired certain assets and entered into a deferred payment arrangement with one of the sellers in connection with an acquisition completed in 2011, which is classified within Level 3 as there is no liquid market for similarly priced instruments. The deferred payment is valued using a discounted cash flow model that encompasses significant unobservable inputs to estimate the operating results of the acquired assets. The assumptions used to prepare the discounted cash flows include estimates for interest rates, enrollment growth, retention rates and pricing strategies. These assumptions are subject to change as the underlying data sources evolve and the program matures.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The Company&amp;#8217;s lease loss liability incorporates an assessment of current sublease market conditions and uses Level 3 inputs, but is not deemed a fair value liability as the future lease payments are required to be discounted using the Company&amp;#8217;s incremental borrowing rate at the date of lease abandonment without subsequent adjustment. See Note 3 for further discussion of the Company&amp;#8217;s lease loss liability.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;At December 31, 2014, the carrying value of the Company&amp;#8217;s debt was $118.8 million, which approximated fair value. All of the Company&amp;#8217;s debt was variable interest rate debt and classified within Level 2 because it was valued using readily available pricing sources which utilize market observable inputs. The Company has no outstanding debt as of December 31, 2015.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The Company did not change its valuation techniques associated with recurring fair value measurements from prior periods, and no assets or liabilities were transferred between levels of the fair value hierarchy during the years ended December 31, 2014 or 2015. Changes in the fair value of the Company&amp;#8217;s Level 3 deferred payment liability that was outstanding throughout the years ended December 31, 2014 and 2015 are as follows (in thousands):&lt;/p&gt;
&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="496" valign="bottom" style="background: white; padding: 0in; width: 372pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;2014&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;2015&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="496" valign="bottom" style="background: #cceeff; padding: 0in; width: 372pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Balance at beginning of year&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.5in;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular;
 font-size: 10pt;"&gt;2,115&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.5in;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2,398&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="496" valign="bottom" style="background: white; padding: 0in; width: 372pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Amounts earned&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;"&gt;
&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(545&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;"&gt;
&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(756&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="496" valign="bottom" style="padding: 0in 0in 1pt; width: 372pt; background-color: #cceeff;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Adjustments to fair value&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="padding: 0in 0in 1pt; width: 8pt; background-color: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding-top: 0in; padding-right: 0in; padding-left: 0in; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; padding-top: 0in; padding-right: 0in; padding-left: 0in; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;828&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="padding: 0in 0in 1pt; width: 6pt; background-color: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="padding: 0in 0in 1pt; width: 8pt; background-color: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding-top: 0in; padding-right: 0in; padding-left: 0in; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; padding-top: 0in; padding-right: 0in;
 padding-left: 0in; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;1,636&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="padding: 0in 0in 1pt; width: 6pt; background-color: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="496" valign="bottom" style="background: white; padding: 0in; width: 372pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: 0pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Balance at end of year&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2,398&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;3,278&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;br class="apple-interchange-newline" /&gt;&amp;#160;&lt;/div&gt;</us-gaap:FairValueDisclosuresTextBlock>
<us-gaap:LongTermDebtTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;p class="h2note" style="font: bold 10pt/12pt timesnewromanpsstd-bold; margin: 10pt 0in 0pt 20pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;6.&lt;/font&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&amp;#160;Long Term Debt&lt;/font&gt;&lt;/p&gt;&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;On July 2, 2015, the Company entered into an amended credit facility (the &amp;#8220;Amended Credit Facility&amp;#8221;) which provides for a revolving line of credit (the &amp;#8220;Revolver&amp;#8221;) up to $150.0 million and provides the Company with an option, under certain conditions, to increase the commitments under the Revolver or establish one or more incremental term loans in an amount up to $50 million in the aggregate in the future. The maturity date of the Amended Credit Facility is July 2, 2020. The Amended Credit Facility replaced the Company&amp;#8217;s prior credit agreement (the &amp;#8220;Prior Credit Agreement&amp;#8221;), dated November 8, 2012, which had provided for both a term loan and revolving line of credit and an original maturity date of December 31, 2016. All amounts outstanding under the Prior Credit Agreement were repaid upon execution of the Amended Credit Facility. The Company paid approximately $0.9 million in debt financing costs associated with the Amended Credit Facility.&lt;/p&gt;&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;Borrowings under the Revolver will bear interest at a per annum rate equal to, at the Company&amp;#8217;s election, LIBOR or a base rate, plus a margin ranging from 1.75% to 2.25% (as compared to 2.00% to 2.50% under the Prior Credit Agreement), depending on the Company&amp;#8217;s leverage ratio. The Company also is subject to a quarterly unused commitment fee ranging from 0.25% to 0.35% per annum (as compared to 0.30% to 0.40% per annum under the Prior Credit Agreement), depending on the Company&amp;#8217;s leverage ratio, times the daily unused amount under the Revolver.&lt;/p&gt;&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;All other remaining terms of the Prior Credit Agreement remain in full force and effect. The Amended Credit Facility is guaranteed by the University and is secured by substantially all of the personal property and assets of the Company and the guarantor. The Amended Credit Facility contains customary affirmative and negative covenants, representations, warranties, events of default and remedies upon default, including acceleration and rights to foreclose on the collateral securing the Amended Credit Facility. In addition, as with the Prior Credit Agreement, the Amended Credit Facility requires that the Company satisfy certain financial maintenance covenants, including:&lt;/p&gt;&lt;p class="blm" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt 40pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 13pt;"&gt;&amp;#8226;&lt;/font&gt;&lt;/font&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/font&gt;&amp;#160;A leverage ratio of not greater than 2 to 1. Leverage ratio is defined as the ratio of total debt to trailing four-quarter EBITDA (earnings before interest, taxes, depreciation, amortization and non-cash charges such as stock-based compensation).&lt;/p&gt;&lt;p class="blm" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt 40pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 13pt;"&gt;&amp;#8226;&lt;/font&gt;&lt;/font&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/font&gt;&amp;#160;A coverage ratio of not less than 1.75 to 1. Coverage ratio is defined as the ratio of trailing four-quarter EBITDA and rent expense to trailing four-quarter interest and rent expense.&lt;/p&gt;&lt;p class="blm" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt 40pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 13pt;"&gt;&amp;#8226;&lt;/font&gt;&lt;/font&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/font&gt;&amp;#160;A Department of Education Financial Responsibility Composite Score of not less than 1.5.&lt;/p&gt;&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;The Company was in compliance with all the terms of the Amended Credit Facility at December 31, 2015.&lt;/p&gt;&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;During the years ended December 31, 2014 and 2015, the Company paid cash interest of $4.4 million and $2.4 million, respectively. The Company&amp;#8217;s average annual interest rate, including non-cash charges for the amortization of debt financing costs, was 4.3% in 2014, and 4.3% in 2015 during the period in which the Company had debt outstanding. The Company had no outstanding balance under
 Revolver as of December 31, 2015.&lt;/p&gt;&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Interest Rate Swap&lt;/font&gt;&lt;/p&gt;&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;Under the Prior Credit Agreement, the Company was party to an interest rate swap on the outstanding term loan balance in order to minimize the interest rate exposure on the balance of the term loan facility (the &amp;#8220;Swap&amp;#8221;). The Swap effectively fixed the variable interest rate on the associated term loan at a rate ranging from 2.85% to 3.35%, depending on the Company&amp;#8217;s leverage ratio, rather than being subject to fluctuations in the LIBOR rate. The term of the Swap effectively matched the term of the underlying term loan facility. The Swap was designated as a cash flow hedge and was deemed effective in accordance with the Derivatives and Hedging Topic, ASC 815. The fair value of the Swap was included in other assets in the Company&amp;#8217;s consolidated balance sheets, and was settled in full at the time of the payoff of the term loan under the Prior Credit Agreement.&lt;/p&gt;</us-gaap:LongTermDebtTextBlock>
<us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;p class="h2note" style="font: bold 10pt/12pt timesnewromanpsstd-bold; margin: 12pt 0in 0pt 20pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;7.&lt;/font&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&amp;#160;Stock Options, Restricted Stock and Restricted Stock Units&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;On May 5, 2015, the Company&amp;#8217;s shareholders approved the Strayer Education, Inc. 2015 Equity Compensation Plan (the &amp;#8220;2015 Plan&amp;#8221;), which replaced the Strayer Education, Inc. 2011 Equity Compensation Plan (the &amp;#8220;2011 Plan&amp;#8221;). The 2015 Plan provides for the granting of restricted stock, restricted stock units, stock options intended to qualify as incentive stock options, options that do not qualify as incentive stock options, and other forms of equity compensation and performance-based awards to employees, officers and directors of the Company, or to a consultant or advisor to the Company, at the discretion of the Board of Directors. Vesting provisions are at the discretion of the Board of Directors. Options may be granted at option prices based at or above the fair market value of the shares at the date of grant. The maximum term of the awards granted under the 2015 Plan is ten years. The number of shares of common stock reserved for issuance under the 2015 Plan is 500,000 authorized but unissued shares, plus the number of shares available for grant under the 2011 Plan at the time of stockholder approval of the 2015 Plan, and plus the number of shares which may in the future become available under the 2011 Plan due to forfeitures of outstanding awards.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;In February 2015, the Company&amp;#8217;s Board of Directors approved grants of 71,991 shares of restricted stock to certain employees. These shares, which vest 100% in February 2019, were granted pursuant to the 2011 Plan. The Company&amp;#8217;s stock price closed at $70.15 on the date of these restricted stock grants.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;In May 2015, the Company&amp;#8217;s Board of Directors approved grants of 40,867 shares of restricted stock, which vest in their entirety four years from the date of grant, and were granted pursuant to the 2015 Plan. The Company&amp;#8217;s Board of Directors also approved grants of 13,797 shares of restricted stock. These shares, which vest annually over a three-year period, were awarded to non-employee members of the Company&amp;#8217;s Board of Directors, as part of the Company&amp;#8217;s annual director compensation program and the 2015 Plan. The Company&amp;#8217;s stock price closed at $48.94 on the date of these restricted stock grants.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;Dividends paid on unvested restricted stock are reimbursed to the Company if the recipient forfeits his or her shares as a result&lt;/p&gt;
&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Restricted Stock and Restricted Stock Units&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The table below sets forth the restricted stock and restricted stock units activity for each of the three years in the period ended December 31, 2015:&lt;/p&gt;
&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="66%" valign="bottom" style="padding: 0in; width: 404px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="padding: 0in; width: 56px;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Number of&lt;br /&gt;shares&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height:
 normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="14%" valign="bottom" style="padding: 0in; width: 90px;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Weighted-average&lt;br /&gt;grant price&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="66%" valign="bottom" style="background: #cceeff; padding: 0in; width: 404px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Balance, December 31, 2012&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8%" valign="bottom" style="background: #cceeff; padding: 0in; width: 49px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;434,439&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; width: 83px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;178.88&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="66%" valign="bottom" style="padding: 0in; width: 404px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Grants&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8%" valign="bottom" style="padding: 0in; width: 49px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;225,741&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="padding: 0in; width: 83px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal;
 padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;57.90&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="66%" valign="bottom" style="background: #cceeff; padding: 0in; width: 404px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Vested shares&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8%" valign="bottom" style="background: #cceeff; padding: 0in; width: 49px;"&gt;
&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(51,916&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; width: 83px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;164.22&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="66%" valign="bottom" style="padding: 0in; width: 404px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Forfeitures&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 49px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(120,491&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 83px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;140.30&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="66%" valign="bottom" style="background: #cceeff; padding: 0in; width: 404px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Balance, December 31, 2013&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height:
 normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 49px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;487,773&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 83px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;131.51&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="66%" valign="bottom" style="padding: 0in; width: 404px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Grants&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8%" valign="bottom" style="padding: 0in; width: 49px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;108,606&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="padding: 0in; width: 83px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;38.95&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="66%" valign="bottom" style="background: #cceeff; padding: 0in; width: 404px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Vested shares&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8%" valign="bottom" style="background: #cceeff; padding: 0in; width: 49px;"&gt;
&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(69,434&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom"
 style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; width: 83px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;158.97&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="66%" valign="bottom" style="padding: 0in; width: 404px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Forfeitures&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 49px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(2,729&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 83px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;93.44&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="66%" valign="bottom" style="background: #cceeff; padding: 0in; width: 404px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Balance, December 31, 2014&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 49px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;524,216&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font
 style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 83px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;115.67&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="66%" valign="bottom" style="padding: 0in; width: 404px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Grants&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8%" valign="bottom" style="padding: 0in; width: 49px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;126,655&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="padding: 0in; width: 83px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;61.00&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="66%" valign="bottom" style="background: #cceeff; padding: 0in; width: 404px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Vested shares&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8%" valign="bottom" style="background: #cceeff; padding: 0in; width: 49px;"&gt;
&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(13,725&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt;
 text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; width: 83px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;52.94&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="66%" valign="bottom" style="padding: 0in; width: 404px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Forfeitures&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 49px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(2,819&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 83px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;115.55&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="66%" valign="bottom" style="background: #cceeff; padding: 0in; width: 404px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Balance, December 31, 2015&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 49px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;634,327&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 83px; border-bottom-color:
 windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;104.66&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 10pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Stock Options&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The table below sets forth the stock option activity for each of the three years in the period ended December 31, 2015 and other stock option information at December 31, 2015:&lt;/p&gt;
&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="padding: 0in; width: 216px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="padding: 0in; width: 57px;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Number of&lt;br /&gt;shares&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="padding: 0in; width: 83px;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Weighted-average exercise price&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="padding: 0in; width: 81px;"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Weighted-&lt;br /&gt;average&lt;br /&gt;remaining&lt;br /&gt;contractual&lt;br /&gt;life (years)&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="padding: 0in; width: 72px;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Aggregate&lt;br /&gt;intrinsic&lt;br
 /&gt;value&lt;/font&gt;&lt;/font&gt;&lt;font class="superscript" style="font-size: 6pt; vertical-align: super;"&gt;&lt;font lang="en-gb" style="font-size: 6pt;"&gt;(1)&lt;/font&gt;&lt;/font&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;&lt;br /&gt;(in thousands)&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 216px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Balance, December 31, 2012&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 50px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;100,000&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="background: #cceeff; padding: 0in; width: 76px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;107.28&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; width: 81px;"&gt;
&lt;p class="tbodyrightalign" style="font: 10pt/normal timesnewromanpsstd-regular; text-align: center; color: black; padding-bottom: 3px; margin-top: 0in; margin-bottom: 0pt; font-stretch: normal;"&gt;0.1&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="background: #cceeff; padding: 0in; width: 65px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="padding: 0in; width: 216px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Grants&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 50px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;100,000&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size:
 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="padding: 0in; width: 76px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;51.95&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="padding: 0in; width: 81px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="padding: 0in; width: 65px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 216px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Exercises&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 50px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="background: #cceeff; padding: 0in; width: 76px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal;
 padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; width: 81px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="background: #cceeff; padding: 0in; width: 65px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="padding: 0in; width: 216px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Forfeitures&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 50px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(100,000&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 76px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;107.28&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="border-style: none none solid; padding: 0in;
 width: 81px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 65px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 216px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Balance, December 31, 2013&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 50px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;100,000&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 76px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;51.95&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 81px;"&gt;
&lt;p class="tbodyrightalign" style="font: 10pt/normal timesnewromanpsstd-regular; text-align: center; color: black; padding-bottom: 3px; margin-top: 0in; margin-bottom: 0pt; font-stretch: normal;"&gt;7.0&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in;
 width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 65px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="padding: 0in; width: 216px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Grants&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 50px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="padding: 0in; width: 76px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="padding: 0in; width: 81px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="padding: 0in; width: 65px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 216px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Exercises&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 50px;"&gt;
&lt;p
 class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="background: #cceeff; padding: 0in; width: 76px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; width: 81px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="background: #cceeff; padding: 0in; width: 65px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="padding: 0in; width: 216px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Forfeitures&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 50px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin:
 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 76px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 81px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 65px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 216px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Balance, December 31, 2014&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 50px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;100,000&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 76px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;51.95&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff;
 padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 81px;"&gt;
&lt;p class="tbodyrightalign" style="font: 10pt/normal timesnewromanpsstd-regular; text-align: center; color: black; padding-bottom: 3px; margin-top: 0in; margin-bottom: 0pt; font-stretch: normal;"&gt;6.0&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 65px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2,233&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="padding: 0in; width: 216px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Grants&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 50px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="padding: 0in; width: 76px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="padding: 0in; width: 81px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family:
 timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="padding: 0in; width: 65px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 216px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Exercises&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 50px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="background: #cceeff; padding: 0in; width: 76px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; width: 81px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="background: #cceeff; padding: 0in; width: 65px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td
 width="35%" valign="bottom" style="padding: 0in; width: 216px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Forfeitures/Expirations&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 50px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 76px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 81px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 65px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 216px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Balance, December 31, 2015&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 50px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family:
 timesnewromanpsstd-regular; font-size: 10pt;"&gt;100,000&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 76px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;51.95&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 81px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="font: 10pt/normal timesnewromanpsstd-regular; padding: 0in; text-align: center; color: black; margin-top: 0in; margin-bottom: 0pt; font-stretch: normal;"&gt;5.1&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 65px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;817&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="padding: 0in; width: 216px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Exercisable, December 31, 2015&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 50px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;100,000&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in
 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 76px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;51.95&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 81px;"&gt;
&lt;p class="tbodyrightalign" style="font: 10pt/normal timesnewromanpsstd-regular; text-align: center; color: black; padding-bottom: 3px; margin-top: 0in; margin-bottom: 0pt; font-stretch: normal;"&gt;5.1&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 65px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;817&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p class="tablefootnotef" style="font: 8pt/normal timesnewromanpsstd-regular; margin: 0in 0in 0pt 20pt; padding: 0in; border: currentcolor; border-image: none; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;____________&lt;/p&gt;
&lt;p class="tablefootnotef" style="font: 8pt/normal timesnewromanpsstd-regular; margin: 0in 0in 0pt 20pt; padding: 0in; border: currentcolor; border-image: none; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;(1)&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&amp;#160;The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between the Company&amp;#8217;s closing stock price on the respective trading day and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holder had all options been exercised on the respective trading day. The amount of intrinsic value will change based on the fair market value of the Company&amp;#8217;s common stock.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The number of shares exercisable as of December 31, 2013, 2014 and 2015 are as follows:&lt;/p&gt;
&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="432" valign="bottom" style="background: white; padding: 0in; width: 4.5in;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="61" valign="bottom" style="background: white; padding: 0in; width: 46pt;"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Number of&lt;br /&gt;shares&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom"
 style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="96" valign="bottom" style="background: white; padding: 0in; width: 1in;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Weighted-average&lt;br /&gt;exercise price&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="432" valign="bottom" style="background: #cceeff; padding: 0in; width: 4.5in;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Exercisable, December 31, 2013&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="61" valign="bottom" style="background: #cceeff; padding: 0in; width: 46pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="88" valign="bottom" style="background: #cceeff; padding: 0in; width: 66pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;51.95&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="432" valign="bottom" style="background: white; padding: 0in; width: 4.5in;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Exercisable, December 31, 2014&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="61" valign="bottom" style="background: white; padding: 0in; width: 46pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="88" valign="bottom" style="background: white; padding: 0in; width: 66pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;51.95&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="432" valign="bottom" style="background: #cceeff; padding: 0in; width: 4.5in;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Exercisable, December 31, 2015&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="61" valign="bottom" style="background: #cceeff; padding: 0in; width: 46pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;100,000&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="88" valign="bottom" style="background: #cceeff; padding: 0in; width: 66pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;51.95&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 10pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Valuation and Expense Information under Stock Compensation Topic ASC 718&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal;
 word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;At December 31, 2015, total stock-based compensation cost which has not yet been recognized was $25.7 million for unvested restricted stock, restricted stock units, and stock option awards. This cost is expected to be recognized over the next 33 months on a weighted-average basis. Awards of approximately 467,000 shares of restricted stock and restricted stock units are subject to performance conditions. The accrual for stock-based compensation for performance awards is based on the Company&amp;#8217;s estimates that such performance criteria are probable of being achieved over the respective vesting periods. Such a determination involves significant judgment surrounding the Company&amp;#8217;s ability to maintain regulatory compliance. If the performance targets are not reached during the respective vesting period, or it is determined it is more likely than not that the performance criteria will not be achieved, related compensation expense is adjusted.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The following table sets forth the amount of stock-based compensation expense recorded in each of the expense line items for the years ended December 31, 2013, 2014 and 2015 (in thousands):&lt;/p&gt;
&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="59%" valign="bottom" style="padding: 0in; width: 360px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 49px;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;2013&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 47px;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;2014&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 47px;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;2015&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="59%" valign="bottom" style="background: #cceeff; padding: 0in; width: 360px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Instruction and educational support&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal;
 font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; width: 41px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;1,976&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; width: 40px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;1,736&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; width: 40px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2,134&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="59%" valign="bottom" style="padding: 0in; width: 360px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Marketing&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 8px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="padding: 0in; width: 41px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black;
 line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="padding: 0in; width: 40px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="padding: 0in; width: 40px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="59%" valign="bottom" style="background: #cceeff; padding: 0in; width: 360px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Admissions advisory&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; width: 41px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; width: 40px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; width: 40px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in
 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="59%" valign="bottom" style="padding: 0in; width: 360px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;General and administration&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 8px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 41px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;7,315&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 40px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;7,717&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 40px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;8,079&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="59%" valign="bottom" style="background: #cceeff; padding: 0in; width: 360px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Stock-based compensation expense included in operating expense&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor;
 border-image: none; width: 8px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 41px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;9,291&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 40px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;9,453&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 40px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;10,213&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="59%" valign="bottom" style="padding: 0in; width: 360px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Tax benefit&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 8px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 41px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;3,698&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor;
 border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 40px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;3,734&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 40px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;4,032&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="59%" valign="bottom" style="background: #cceeff; padding: 0in; width: 360px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Stock-based compensation expense, net of tax&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 8px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 41px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;5,593&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 40px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;5,719&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle"
 style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 40px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;6,181&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 10pt 0in; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The following table summarizes information regarding share-based payment arrangements for the years ended December 31, 2013, 2014 and 2015 (in thousands):&lt;/p&gt;
&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="59%" valign="bottom" style="padding: 0in; width: 360px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 50px;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2013&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 48px;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2014&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 46px;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2015&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="59%" valign="bottom" style="background: #cceeff; padding: 0in; width: 360px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Proceeds from stock options exercised&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle"
 style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="5%" valign="bottom" style="background: #cceeff; padding: 0in; width: 36px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="5%" valign="bottom" style="background: #cceeff; padding: 0in; width: 35px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="5%" valign="bottom" style="background: #cceeff; padding: 0in; width: 33px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="59%" valign="bottom" style="padding: 0in; width: 360px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Tax shortfall related to share-based payment&lt;br /&gt;arrangements&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 8px;"&gt;
&lt;p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="5%" valign="bottom" style="padding: 0in; width: 36px;"&gt;
&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family:
 timesnewromanpsstd-regular; font-size: 10pt;"&gt;(3,567&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 6px;"&gt;
&lt;p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="5%" valign="bottom" style="padding: 0in; width: 35px;"&gt;
&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(2,039&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 6px;"&gt;
&lt;p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="5%" valign="bottom" style="padding: 0in; width: 33px;"&gt;
&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(24&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 6px;"&gt;
&lt;p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="59%" valign="bottom" style="background: #cceeff; padding: 0in; width: 360px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Intrinsic value of stock options exercised&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="5%" valign="bottom" style="background: #cceeff; padding: 0in; width: 36px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family:
 timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="5%" valign="bottom" style="background: #cceeff; padding: 0in; width: 35px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="5%" valign="bottom" style="background: #cceeff; padding: 0in; width: 33px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;</us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock>
<stra:OtherLiabilitiesNonCurrentDisclosureTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;p class="h2note" style="font: bold 10pt/12pt timesnewromanpsstd-bold; margin: 10pt 0in 0pt 20pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;8.&lt;/font&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&amp;#160;Other Long-Term Liabilities&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;Other long-term liabilities consist of the following as of December 31, 2014 and 2015 (in thousands):&lt;/p&gt;
&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="72%" valign="bottom" style="padding: 0in; width: 434px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8%" valign="bottom" style="padding: 0in; width: 50px;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;2014&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8%" valign="bottom" style="padding: 0in; width: 52px;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;2015&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="72%" valign="bottom" style="background: #cceeff; padding: 0in; width: 434px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Loss on facilities not in use&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 43px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;21,280&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding:
 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 45px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;15,229&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="72%" valign="bottom" style="padding: 0in; width: 434px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Deferred revenue, net of current portion&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 43px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;9,654&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 45px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;14,429&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="72%" valign="bottom" style="background: #cceeff; padding: 0in; width: 434px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Deferred rent and other facility costs&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 43px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;8,646&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%"
 valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 45px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;8,993&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="72%" valign="bottom" style="padding: 0in; width: 434px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Deferred payments related to acquisition&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 43px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;5,198&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 45px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;6,078&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="72%" valign="bottom" style="background: #cceeff; padding: 0in; width: 434px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Lease incentives&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 43px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;1,056&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background:
 #cceeff; padding: 0in; width: 45px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;3,125&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="72%" valign="bottom" style="padding: 0in; width: 434px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Deferred gain on sale of campus building&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 43px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;414&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 45px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;133&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="72%" valign="bottom" style="background: #cceeff; padding: 0in; width: 434px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 43px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;46,248&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font
 style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 45px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;47,987&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Loss on Facilities Not in Use and Deferred Rent and Other Facility Costs&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The Company records a liability for lease costs of campuses and non-campus facilities that are not currently in use (see Note 3). For facilities still in use, the Company records rent expense on a straight-line basis over the initial term of a lease. The difference between the rent payment and the straight-line rent expense is recorded as a liability.&lt;/p&gt;
&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Deferred Revenue&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The Company provides for certain scholarship and awards programs, such as the Graduation Fund (see Note 2 for additional information), that are earned by students when they successfully complete course requirements. The Company also has licensed certain of its non-credit bearing course content to a third party. Included in long-term deferred revenue is the amount of revenue under these arrangements that the Company expects will be realized after one year.&lt;/p&gt;
&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Deferred Payments Related to Acquisition&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The Company acquired certain assets and entered into deferred payment arrangements with one of the sellers in connection with an acquisition completed in 2011. The deferred payment arrangements are valued at approximately $2.4 million and $3.3 million as of December 31, 2014 and 2015, respectively. In addition, one of the sellers contributed $2.8 million to the Company representing the seller&amp;#8217;s continuing interest in the assets acquired.&lt;/p&gt;
&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Lease Incentives&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;In conjunction with the opening of new campuses or renovating existing ones, the Company, in some instances, was reimbursed by the lessors for improvements made to the leased properties. In accordance with ASC 840-20, the underlying assets were capitalized as leasehold improvements and a liability was established for the reimbursements. The leasehold improvements and the liability are amortized on a straight-line basis over the corresponding lease terms, which generally range from five to 10 years.&lt;/p&gt;
&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Deferred Gain on Sale of Campus Building&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;In June 2007, the Company sold one of its campus buildings for $5.8 million. The Company is leasing back most of the campus building over a 10-year period. In conjunction with this sale and lease back transaction, the Company realized a gain of $2.8 million before tax, which is deferred and recognized over the 10-year lease term.&lt;/p&gt;</stra:OtherLiabilitiesNonCurrentDisclosureTextBlock>
<us-gaap:PensionAndOtherPostretirementBenefitsDisclosureTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;p class="h2note" style="font: bold 10pt/12pt timesnewromanpsstd-bold; margin: 12pt 0in 0pt 20pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;9.&lt;/font&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&amp;#160;Other Employee Benefit Plans&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The Company has a 401(k) plan covering all eligible employees of the Company. Effective January 1, 2016, participants may contribute up to $18,000 of their base compensation annually. Employee contributions are voluntary. Discretionary contributions were made by the Company matching 50% of employee deferrals up to a maximum of 3% of the employee&amp;#8217;s annual salary. The Company&amp;#8217;s contributions, which vest immediately, totaled $1.1 million, $0.9 million and $1.1 million for the years ended December 31, 2013, 2014, and 2015, respectively.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;In May 1998, the Company adopted the Strayer Education, Inc. Employee Stock Purchase Plan (&amp;#8220;ESPP&amp;#8221;). Under the ESPP, eligible employees may purchase shares of the Company&amp;#8217;s common stock, subject to certain limitations, at 90% of its market value at the date of purchase. Purchases are limited to 10% of an employee&amp;#8217;s eligible compensation. The aggregate number of shares of common stock that may be made available for purchase by participating employees under the ESPP is 2,500,000 shares. Shares purchased in the open market for employees for the years ended December 31, 2013, 2014, and 2015 were as follows:&lt;/p&gt;
&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="456" valign="bottom" style="background: white; padding: 0in; width: 4.75in;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="61" valign="bottom" style="background: white; padding: 0in; width: 46pt;"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Shares&lt;br /&gt;purchased&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="75" valign="bottom" style="background: white; padding: 0in; width: 56pt;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Average price&lt;br /&gt;per share&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="456" valign="bottom" style="background: #cceeff; padding: 0in; width: 4.75in;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2013&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size:
 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="61" valign="bottom" style="background: #cceeff; padding: 0in; width: 46pt;"&gt;
&lt;p align="center" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: center; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;8,911&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="67" valign="bottom" style="background: #cceeff; padding: 0in; width: 50pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;42.27&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="456" valign="bottom" style="background: white; padding: 0in; width: 4.75in;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2014&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="61" valign="bottom" style="background: white; padding: 0in; width: 46pt;"&gt;
&lt;p align="center" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: center; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;5,872&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="67" valign="bottom" style="background: white; padding: 0in; width: 50pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;44.55&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="456" valign="bottom" style="background: #cceeff; padding: 0in; width: 4.75in;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2015&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="61" valign="bottom" style="background: #cceeff; padding: 0in; width: 46pt;"&gt;
&lt;p align="center" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: center; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;5,136&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family:
 timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="67" valign="bottom" style="background: #cceeff; padding: 0in; width: 50pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;49.10&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;</us-gaap:PensionAndOtherPostretirementBenefitsDisclosureTextBlock>
<us-gaap:TreasuryStockTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;div&gt;&lt;p class="h2note" style="font: bold 10pt/12pt timesnewromanpsstd-bold; margin: 12pt 0in 0pt 20pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;10.&lt;/font&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&lt;/font&gt;&amp;#160;Stock Repurchase Plan&lt;/font&gt;&lt;/p&gt;&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;In November 2003, the Company&amp;#8217;s Board of Directors authorized the Company to repurchase up to an aggregate of $15 million in value of common stock in open market purchases from time to time at the discretion of the Company&amp;#8217;s management depending on market conditions and other corporate considerations. The Company&amp;#8217;s Board of Directors amended the program on various dates, increasing the repurchase amount authorized and extending the expiration date. At December 31, 2015, approximately $70 million of the Company&amp;#8217;s share repurchase authorization was remaining for repurchases through December 31, 2016. All of the Company&amp;#8217;s share repurchases were effected in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended. This stock repurchase plan may be modified, suspended or terminated at any time by the Company without notice.&lt;/p&gt;&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;A summary of the Company&amp;#8217;s stock repurchase activity for the years ended December 31, 2013, 2014, and 2015, all of which was part of a publicly announced plan, is set forth in the table below:&lt;/p&gt;&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;&lt;tr&gt;&lt;td width="52%" valign="bottom" style="background: white; padding: 0in; width: 319.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="10%" valign="bottom" style="background: white; padding: 0in; width: 62.72px;"&gt;&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Number of&lt;br /&gt;shares&lt;br /&gt;repurchased&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="15%" valign="bottom" style="background: white; padding: 0in; width: 91.81px;" colspan="2"&gt;&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Average price paid&lt;br /&gt;per share&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="16%" valign="bottom" style="background: white; padding: 0in; width: 99.09px;" colspan="2"&gt;&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Amount available for future repurchases (in millions)&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="52%" valign="bottom" style="background: #cceeff; padding: 0in; width: 319.09px;"&gt;&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2013&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="10%" valign="bottom" style="background: #cceeff; padding: 0in; width: 62.72px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;495,085&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7.27px;"&gt;&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;&lt;/td&gt;&lt;td width="14%" valign="bottom" style="background: #cceeff; padding: 0in; width: 84.54px;"&gt;&lt;p class="tbodyrightalign"
 style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;50.49&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7.27px;"&gt;&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;&lt;/td&gt;&lt;td width="15%" valign="bottom" style="background: #cceeff; padding: 0in; width: 91.81px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;70.0&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="52%" valign="bottom" style="background: white; padding: 0in; width: 319.09px;"&gt;&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2014&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="10%" valign="bottom" style="background: white; padding: 0in; width: 62.72px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 7.27px;"&gt;&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;&lt;/td&gt;&lt;td width="14%" valign="bottom" style="background: white; padding: 0in; width: 84.54px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 7.27px;"&gt;&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;&lt;/td&gt;&lt;td width="15%" valign="bottom" style="background: white; padding: 0in; width: 91.81px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;70.0&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="52%" valign="bottom" style="background: #cceeff; padding: 0in; width: 319.09px;"&gt;&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2015&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="10%" valign="bottom" style="background: #cceeff; padding: 0in; width: 62.72px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7.27px;"&gt;&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;&lt;/td&gt;&lt;td width="14%" valign="bottom" style="background: #cceeff; padding: 0in; width: 84.54px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7.27px;"&gt;&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;&lt;/td&gt;&lt;td width="15%" valign="bottom" style="background: #cceeff; padding: 0in; width: 91.81px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;70.0&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 10pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;Repurchases of common stock are recorded as a reduction to additional paid-in capital. To the extent additional paid-in capital had
 been
 reduced to zero through stock repurchases, retained earnings was then reduced.&lt;/p&gt;&lt;/div&gt;</us-gaap:TreasuryStockTextBlock>
<us-gaap:CommitmentsAndContingenciesDisclosureTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;p class="h2note" style="font: bold 10pt/12pt timesnewromanpsstd-bold; margin: 12pt 0in 0pt 20pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;11.&lt;/font&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&lt;/font&gt;&amp;#160;Commitments and Contingencies&lt;/font&gt;&lt;/p&gt;&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The University participates in various federal student financial assistance programs which are subject to audit by agencies including the Department of Education, the Veterans Administration, and the Department of Defense. Management believes that the potential effects of audit adjustments, if any, for the periods currently under audit will not have a material adverse effect, individually or in the aggregate, on the Company&amp;#8217;s consolidated financial position, results of operations or cash flows.&lt;/p&gt;&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;As of December 31, 2015, the Company had 88 long-term, non-cancelable operating leases for campuses and other administrative facilities. Rent expense was $82.2 million, $35.7 million, and $37.5 million for the years ended December 31, 2013, 2014, and 2015, respectively. Rent expense for 2013 includes approximately $36.0 million in charges related to the closure of 20 campus locations. Rent expense for 2014 and 2015 includes benefits of approximately $4.1 million and $0.4 million, respectively, to reduce the Company&amp;#8217;s liability for losses on facilities no longer in use. The rents on the Company&amp;#8217;s leases are subject to annual increases.&lt;/p&gt;&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The minimum rental commitments for the Company as of December 31, 2015 are as follows (in thousands):&lt;/p&gt;&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;&lt;tr&gt;&lt;td width="82%" valign="bottom" style="background: white; padding: 0in; width: 495px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="11%" valign="bottom" style="background: white; padding: 0in; width: 73px;" colspan="2"&gt;&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tch" style="margin: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; padding-top: 0in; padding-right: 0in; padding-bottom: 0pt !important; padding-left: 0in; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Minimum&lt;br /&gt;rental&lt;br /&gt;commitments&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="82%" valign="bottom" style="background: #cceeff; padding: 0in; width: 495px;"&gt;&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px !important; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2016&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 11px;"&gt;&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px !important; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;&lt;/td&gt;&lt;td width="10%" valign="bottom" style="background: #cceeff; padding: 0in; width: 62px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt 6pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px !important; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;37,240&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="82%" valign="bottom" style="background: white; padding: 0in; width: 495px;"&gt;&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px !important; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2017&lt;/p&gt;&lt;/td&gt;&lt;td
 width="1%" valign="bottom" style="background:
 white; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 11px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt 6pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px !important; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td width="10%" valign="bottom" style="background: white; padding: 0in; width: 62px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt 6pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px !important; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;33,264&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="82%" valign="bottom" style="background: #cceeff; padding: 0in; width: 495px;"&gt;&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px !important; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2018&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 11px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt 6pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px !important; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td width="10%" valign="bottom" style="background: #cceeff; padding: 0in; width: 62px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt 6pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px !important; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;28,819&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="82%" valign="bottom" style="background: white; padding: 0in; width: 495px;"&gt;&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px !important; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2019&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 11px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt 6pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px !important; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td width="10%" valign="bottom" style="background: white; padding: 0in; width: 62px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt 6pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px !important; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;23,444&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="82%" valign="bottom" style="background: #cceeff; padding: 0in; width: 495px;"&gt;&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px !important; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2020&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 11px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt 6pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px !important; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td width="10%"
 valign="bottom" style="background: #cceeff; padding: 0in; width: 62px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in
 0in 0pt 6pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px !important; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;18,157&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="82%" valign="bottom" style="background: white; padding: 0in; width: 495px;"&gt;&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px !important; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Thereafter&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 11px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt 6pt; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; padding-top: 0in; padding-right: 0in; padding-bottom: 3px !important; padding-left: 0in; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td width="10%" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 62px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt 6pt; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; padding-top: 0in; padding-right: 0in; padding-bottom: 3px !important; padding-left: 0in; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;26,140&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="82%" valign="bottom" style="background: #cceeff; padding: 0in; width: 495px;"&gt;&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px !important; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Total&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 11px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; padding-top: 0in; padding-right: 0in; padding-bottom: 3px !important; padding-left: 0in; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;&lt;/td&gt;&lt;td width="10%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 62px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt 6pt; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; padding-top: 0in; padding-right: 0in; padding-bottom: 3px !important; padding-left: 0in; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;167,064&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:CommitmentsAndContingenciesDisclosureTextBlock>
<us-gaap:IncomeTaxDisclosureTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;p class="h2note" style="font: bold 10pt/12pt timesnewromanpsstd-bold; margin: 12pt 0in 0pt 20pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;12.&lt;/font&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&lt;/font&gt;&amp;#160;Income Taxes&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 4pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The income tax provision for the years ended December 31, 2013, 2014 and 2015 is summarized below (in thousands):&lt;/p&gt;
&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="400" valign="bottom" style="background: white; padding: 0in; width: 300pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="59" valign="bottom" style="background: white; padding: 0in; width: 44pt;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;2013&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="59" valign="bottom" style="background: white; padding: 0in; width: 44pt;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;2014&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="59" valign="bottom" style="background: white; padding: 0in; width: 44pt;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;2015&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="400" valign="bottom" style="background: #cceeff; padding: 0in; width: 300pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Current:&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family:
 timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="43" valign="bottom" style="background: #cceeff; padding: 0in; width: 32pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="51" valign="bottom" style="background: #cceeff; padding: 0in; width: 38pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="43" valign="bottom" style="background: #cceeff; padding: 0in; width: 32pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="400" valign="bottom" style="background: white; padding: 0in; width: 300pt;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Federal&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="43" valign="bottom" style="background: white; padding: 0in; width: 32pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;26,390&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color:
 windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="51" valign="bottom" style="background: white; padding: 0in; width: 38pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;25,285&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="43" valign="bottom" style="background: white; padding: 0in; width: 32pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;25,515&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="400" valign="bottom" style="background: #cceeff; padding: 0in; width: 300pt;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;State&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="43" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;4,582&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in;
 width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="51" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 38pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;4,490&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="43" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;4,538&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="400" valign="bottom" style="background: white; padding: 0in; width: 300pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Total current&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="43" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;30,972&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="51" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 38pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family:
 timesnewromanpsstd-regular; font-size: 10pt;"&gt;29,775&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="43" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;30,053&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="400" valign="bottom" style="background: #cceeff; padding: 0in; width: 300pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Deferred:&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="43" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 32pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="51" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 38pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color:
 black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="43" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 32pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="400" valign="bottom" style="background: white; padding: 0in; width: 300pt;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Federal&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="43" valign="bottom" style="background: white; padding: 0in; width: 32pt;"&gt;
&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(18,387&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="51" valign="bottom" style="background: white; padding: 0in; width: 38pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;141&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="43" valign="bottom" style="background: white; padding: 0in; width: 32pt;"&gt;
&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(3,634&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="400" valign="bottom" style="background: #cceeff; padding: 0in; width: 300pt;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family:
 timesnewromanpsstd-regular; font-size: 10pt;"&gt;State&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="43" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(1,726&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="51" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 38pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;344&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="43" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(311&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="400" valign="bottom" style="background: white; padding: 0in; width: 300pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Total deferred&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font
 style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="43" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(20,113&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="51" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 38pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;485&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="43" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(3,945&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="400" valign="bottom" style="background: #cceeff; padding: 0in; width: 300pt;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Total provision for income taxes&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left"
 class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="43" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;10,859&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="51" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 38pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;30,260&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="43" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;26,108&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 10pt 0in; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The tax effects of the principal temporary differences that give rise to the Company&amp;#8217;s deferred tax assets are as follows as of December 31, 2014 and 2015 (in thousands):&lt;/p&gt;
&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="464" valign="bottom" style="background: white; padding: 0in; width: 348pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="64"
 valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2014&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2015&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="464" valign="bottom" style="background: #cceeff; padding: 0in; width: 348pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Tuition receivable&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.5in;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;3,439&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.5in;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;3,908&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="464" valign="bottom" style="background: white; padding: 0in; width: 348pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Other facility-related costs&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background:
 white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2,824&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2,538&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="464" valign="bottom" style="background: #cceeff; padding: 0in; width: 348pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Employee-related liabilities&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(96&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width:
 0.5in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="464" valign="bottom" style="background: white; padding: 0in; width: 348pt;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Current net deferred tax asset&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;6,167&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;6,446&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="464" valign="bottom" style="background: #cceeff; padding: 0in; width: 348pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Stock-based compensation&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 0.5in;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right;
 color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;12,994&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 0.5in;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;16,742&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="464" valign="bottom" style="background: white; padding: 0in; width: 348pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Property and equipment&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;"&gt;
&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(11,622&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;"&gt;
&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(9,417&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="464" valign="bottom" style="background: #cceeff; padding: 0in; width: 348pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Other facility-related costs&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext;
 font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.5in;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;8,903&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.5in;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;6,534&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="464" valign="bottom" style="background: white; padding: 0in; width: 348pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Deferred revenue&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;3,758&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: white; padding: 0in;
 width: 0.5in;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;4,267&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="464" valign="bottom" style="background: #cceeff; padding: 0in; width: 348pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Deferred leasing costs&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.5in;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2,797&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.5in;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2,825&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="464" valign="bottom" style="background: white; padding: 0in; width: 348pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Interest rate swap&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;"&gt;
&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(56&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font
 style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="464" valign="bottom" style="background: #cceeff; padding: 0in; width: 348pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Other&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(533&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(948&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="464" valign="bottom" style="background: white; padding: 0in; width: 348pt;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Long-term net deferred tax asset&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin:
 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;16,241&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;20,003&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="464" valign="bottom" style="background: #cceeff; padding: 0in; width: 348pt;"&gt;
&lt;p class="tbodyind2" style="margin: 0in 0in 0pt 30pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Net deferred tax asset&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;22,408&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin:
 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;26,449&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 10pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;As of December 31, 2014 and 2015, the Company&amp;#8217;s liabilities for unrecognized tax benefits are included in income taxes payable in the Consolidated Balance Sheets. Interest and penalties, including those related to uncertain tax positions, are included in the provision for income taxes in the Consolidated Statements of Income. The Company recognized $0.1 million of benefits in 2014 and $0.1 million of expense in 2015, related to interest and penalties. The total amount of interest and penalties included in the Consolidated Balance Sheets was $0.3 million and $0.2 million as of December 31, 2014 and 2015, respectively.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 5pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The following table summarizes changes in unrecognized tax benefits, excluding interest and penalties, for the respective periods (in thousands):&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 5pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;/p&gt;
&lt;table style="width: 600px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="padding-bottom: 1pt; font-size: 12pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: bold 8pt/normal timesnewromanpsstd-bold; color: black; padding-bottom: 1pt; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: bold 8pt/normal timesnewromanpsstd-bold; text-align: center; color: black; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-stretch: normal;" colspan="6"&gt;Year Ended December 31,&lt;/td&gt;
&lt;td style="font: bold 8pt/normal timesnewromanpsstd-bold; color: black; padding-bottom: 1pt; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="padding-bottom: 1pt; font-size: 12pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: bold 8pt/normal timesnewromanpsstd-bold; color: black; padding-bottom: 1pt; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: bold 8pt/normal timesnewromanpsstd-bold; text-align: center; color: black; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-stretch: normal;" colspan="2"&gt;2014&lt;/td&gt;
&lt;td style="font: bold 8pt/normal timesnewromanpsstd-bold; color: black; padding-bottom: 1pt; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: bold 8pt/normal timesnewromanpsstd-bold; color: black; padding-bottom: 1pt; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: bold 8pt/normal timesnewromanpsstd-bold; text-align: center; color: black; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-stretch: normal;" colspan="2"&gt;2015&lt;/td&gt;
&lt;td style="font: bold 8pt/normal timesnewromanpsstd-bold; color: black; padding-bottom: 1pt; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; width: 442px; text-align: left; color: black; padding-left: 0in; font-stretch: normal;"&gt;Beginning unrecognized tax benefits&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; width: 6px; color: black; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; width: 7px; text-align: left; color: black; font-stretch: normal;"&gt;$&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; width: 60px; text-align: right; color: black; font-stretch: normal;"&gt;1,745&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; width: 6px; text-align: left; color: black; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; width: 6px; color: black; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; width: 7px; text-align: left; color: black; font-stretch: normal;"&gt;$&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; width: 60px; text-align: right; color: black; font-stretch: normal;"&gt;2,936&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; width: 6px; text-align: left; color: black; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; padding-left: 0in; font-stretch: normal;"&gt;Additions based on tax positions taken in the current year&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; color: black; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: right; color: black; font-stretch: normal;"&gt;2,085&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; color: black; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td
 style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: right; color: black; font-stretch: normal;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; padding-left: 0in; font-stretch: normal;"&gt;Reductions for tax positions taken in prior years&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; color: black; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: right; color: black; font-stretch: normal;"&gt;(565&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; font-stretch: normal;"&gt;)&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; color: black; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: right; color: black; font-stretch: normal;"&gt;(2,431&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; font-stretch: normal;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; padding-bottom: 1pt; padding-left: 0in; font-stretch: normal;"&gt;Settlements with taxing authorities&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; color: black; padding-bottom: 1pt; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: right; color: black; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-stretch: normal;"&gt;(329&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; padding-bottom: 1pt; font-stretch: normal;"&gt;)&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; color: black; padding-bottom: 1pt; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: right; color: black; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-stretch: normal;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; padding-bottom: 1pt; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; padding-bottom: 2.5pt; padding-left: 0in; font-stretch: normal;"&gt;Ending unrecognized tax benefits&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; color: black; padding-bottom: 2.5pt; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-stretch: normal;"&gt;$&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: right; color: black; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-stretch: normal;"&gt;2,936&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; padding-bottom: 2.5pt; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; color: black; padding-bottom: 2.5pt; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-stretch: normal;"&gt;$&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: right; color: black; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-stretch: normal;"&gt;505&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; padding-bottom: 2.5pt; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 10pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;It is reasonably possible that approximately $0.3 million of unrecognized tax benefits will be reduced in the next twelve months due to expiration of the applicable statutes of limitations. The Company does not anticipate significant changes to other unrecognized tax benefits.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;As of December 31, 2015, $0.5 million of the Company&amp;#8217;s total unrecognized tax benefits would favorably affect the Company&amp;#8217;s effective tax rate if recognized. If amounts accrued are less than amounts ultimately assessed by taxing authorities, the Company would record additional income tax expense.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;A reconciliation between the Company&amp;#8217;s statutory tax rate and the effective tax rate for the years ended December 31, 2013, 2014, and 2015 is as follows:&lt;/p&gt;
&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="432" valign="bottom" style="background: white; padding: 0in; width: 4.5in;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family:
 timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2013&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2014&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2015&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="432" valign="bottom" style="background: #cceeff; padding: 0in; width: 4.5in;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Statutory federal rate&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="35" valign="bottom" style="background: #cceeff; padding: 0in; width: 26.35pt;"&gt;
&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;35.0&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.65pt;"&gt;
&lt;p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;%&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p
 class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="35" valign="bottom" style="background: #cceeff; padding: 0in; width: 26.35pt;"&gt;
&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;35.0&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.65pt;"&gt;
&lt;p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;%&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="35" valign="bottom" style="background: #cceeff; padding: 0in; width: 26.35pt;"&gt;
&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;35.0&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.65pt;"&gt;
&lt;p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;%&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="432" valign="bottom" style="background: white; padding: 0in; width: 4.5in;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;State income taxes, net of federal benefits&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="35" valign="bottom" style="background: white; padding: 0in; width: 26.35pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;4.6&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13" valign="bottom" style="background: white; padding: 0in; width: 9.65pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="35" valign="bottom" style="background: white; padding: 0in; width: 26.35pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;4.2&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13" valign="bottom" style="background: white; padding: 0in; width: 9.65pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="35" valign="bottom" style="background: white; padding: 0in; width: 26.35pt;"&gt;
&lt;p class="tbodyrightalign"
 style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;4.2&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13" valign="bottom" style="background: white; padding: 0in; width: 9.65pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="432" valign="bottom" style="background: #cceeff; padding: 0in; width: 4.5in;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Other&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="35" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 26.35pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;0.2&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.65pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="35" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 26.35pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;0.3&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.65pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="35" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 26.35pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;0.3&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.65pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="432" valign="bottom" style="background: white; padding: 0in; width: 4.5in;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Effective tax rate&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p
 class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="35" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 26.35pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2brack" style="margin: 0in; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;39.8&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13" valign="bottom" style="background: white; padding: 0in; width: 9.65pt;"&gt;
&lt;p align="left" class="tbodyrule2brack" style="margin: 0in; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;%&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="35" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 26.35pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2brack" style="margin: 0in; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;39.5&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13" valign="bottom" style="background: white; padding: 0in; width: 9.65pt;"&gt;
&lt;p align="left" class="tbodyrule2brack" style="margin: 0in; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;%&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="35" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 26.35pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2brack" style="margin: 0in; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;39.5&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13" valign="bottom" style="background: white; padding: 0in; width: 9.65pt;"&gt;
&lt;p align="left" class="tbodyrule2brack" style="margin: 0in; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;%&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 10pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;Cash payments for income taxes were $26.5 million, $30.8 million, and $28.5 million in 2013, 2014, and 2015, respectively.&lt;/p&gt;</us-gaap:IncomeTaxDisclosureTextBlock>
<us-gaap:QuarterlyFinancialInformationTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;p class="h2note" style="font: bold 10pt/12pt timesnewromanpsstd-bold; margin: 12pt 0in 0pt 20pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;13.&lt;/font&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&lt;/font&gt;&amp;#160;Summarized Quarterly Financial Data (Unaudited)&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;Quarterly financial information for 2014 and 2015 is as follows (in thousands except per share data):&lt;/p&gt;
&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="304" valign="bottom" style="background: white; padding: 0in; width: 228pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="368" valign="bottom" style="background: white; padding: 0in; width: 276pt;" colspan="17"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;Quarter&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="304" valign="bottom" style="background: white; padding: 0in; width: 228pt;"&gt;
&lt;p class="tchleft" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;u&gt;&lt;font lang="en-gb"&gt;2014&lt;/font&gt;&lt;/u&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;First&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;Second&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p
 class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;Third&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;Fourth&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="304" valign="bottom" style="background: #cceeff; padding: 0in; width: 228pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Revenues&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;116,468&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;112,747&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt;
 text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;100,756&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;116,070&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="304" valign="bottom" style="background: white; padding: 0in; width: 228pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Income from operations&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;25,909&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;23,998&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;9,216&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td
 width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;22,624&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="304" valign="bottom" style="background: #cceeff; padding: 0in; width: 228pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Net income&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;14,783&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;13,677&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;4,953&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black;
 line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;12,943&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="304" valign="bottom" style="background: white; padding: 0in; width: 228pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Net income per share:&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color:
 black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="304" valign="bottom" style="background: #cceeff; padding: 0in; width: 228pt;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Basic&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;1.40&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;1.29&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;0.47&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family:
 timesnewromanpsstd-regular; font-size: 10pt;"&gt;1.22&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="304" valign="bottom" style="background: white; padding: 0in; width: 228pt;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Diluted&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;1.40&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;1.29&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;0.46&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;1.21&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 10pt 0in; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font style="font-size: 4pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none;
 text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="304" valign="bottom" style="background: white; padding: 0in; width: 228pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="368" valign="bottom" style="background: white; padding: 0in; width: 276pt;" colspan="17"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;Quarter&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="304" valign="bottom" style="background: white; padding: 0in; width: 228pt;"&gt;
&lt;p class="tchleft" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;u&gt;&lt;font lang="en-gb"&gt;2015&lt;/font&gt;&lt;/u&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;First&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;Second&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;Third&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext;
 font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;Fourth&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="304" valign="bottom" style="background: #cceeff; padding: 0in; width: 228pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Revenues&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;111,885&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;109,750&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;99,142&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height:
 normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;113,660&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="304" valign="bottom" style="background: white; padding: 0in; width: 228pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Income from operations&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;19,859&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;20,929&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;7,254&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom"
 style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;21,656&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="304" valign="bottom" style="background: #cceeff; padding: 0in; width: 228pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Net income&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;11,385&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;11,874&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;3,723&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;13,041&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="304" valign="bottom" style="background: white; padding: 0in; width: 228pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt;
 padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Net income per share:&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="304" valign="bottom" style="background: #cceeff; padding: 0in; width: 228pt;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Basic&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black;
 line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;1.08&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;1.12&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;0.35&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;1.23&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="304" valign="bottom" style="background: white; padding: 0in; width: 228pt;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Diluted&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family:
 timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;1.06&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;1.11&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;0.35&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;1.21&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;</us-gaap:QuarterlyFinancialInformationTextBlock>
<us-gaap:LegalMattersAndContingenciesTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;div&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&lt;b&gt;14.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Litigation&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;From time to time, the Company is involved in litigation and other legal proceedings arising out of the ordinary course of its business. There are no pending material legal proceedings to which the Company is subject or to which the Company&amp;#8217;s property is subject.&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;</us-gaap:LegalMattersAndContingenciesTextBlock>
<stra:RegulationDisclosureTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;p class="h2note" style="font: bold 10pt/12pt timesnewromanpsstd-bold; margin: 12pt 0in 0pt 20pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;15.&lt;/font&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&lt;/font&gt;&amp;#160;Regulation&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The Department of Education (the &amp;#8220;Department&amp;#8221;) previously attempted to define &amp;#8220;an eligible program of training to prepare students for gainful employment in a recognized occupation.&amp;#8221; After a federal court invalidated the Department&amp;#8217;s regulation, the Department established a negotiated rulemaking committee to consider the issue of gainful employment. The negotiations did not result in the required consensus. On March 25, 2014, the Department issued a Notice of Proposed Rulemaking for public comment, and on October 31, 2014, the Department published the final regulation which became effective on July 1, 2015.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The new requirements include two debt-to-earnings measures, consisting of an annual income rate and a discretionary income rate. The annual income rate measures student debt in relation to earnings, and the discretionary income rate measures student debt in relation to discretionary income. Under the new gainful employment regulation, a program would pass if the program&amp;#8217;s graduates:&lt;/p&gt;
&lt;p class="blm" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt 40pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 13pt;"&gt;&amp;#8226;&lt;/font&gt;&lt;/font&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/font&gt;&amp;#160;have an annual income rate that does not exceed 8%;&amp;#160;&lt;b&gt;&lt;u&gt;&lt;font style="font-family: timesnewromanpsstd-bold;"&gt;or&lt;/font&gt;&lt;/u&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p class="blm" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt 40pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 13pt;"&gt;&amp;#8226;&lt;/font&gt;&lt;/font&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/font&gt;&amp;#160;have a discretionary income rate that does not exceed 20%.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;In addition, a program that does not pass either of the debt-to-earnings metrics, and that has an annual income rate between 8% and 12%, or a discretionary income rate between 20% and 30%, would be considered to be in a warning zone. A program would fail if the program&amp;#8217;s graduates have an annual income rate of 12% or greater and a discretionary income rate of 30% or greater. A program would become Title IV-ineligible for three years if it fails both metrics for two out of three consecutive years, or fails to pass at least one metric for four consecutive award years.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;If an institution is notified by the Secretary that a program could become ineligible, based on its final rates, for the next award year:&lt;/p&gt;
&lt;p class="blm" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt 40pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 13pt;"&gt;&amp;#8226;&lt;/font&gt;&lt;/font&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/font&gt;&amp;#160;The institution must provide a warning with respect to the program to students and prospective students indicating, among other things, that students may not be able to use Title IV funds to attend or continue in the program; and&lt;/p&gt;
&lt;p class="blm" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt 40pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 13pt;"&gt;&amp;#8226;&lt;/font&gt;&lt;/font&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/font&gt;&amp;#160;The institution must not enroll, register or enter into a financial commitment with a prospective student until a specified time after providing the warning to the prospective student.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The new regulation also requires institutions to report student and program level data to the Department, and comply with additional disclosure requirements beginning in January 2017.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;In addition, the gainful employment regulation required institutions to certify by December 31, 2015, among other things, that each eligible gainful employment program is programmatically accredited if required by a federal governmental entity or a state governmental entity in the state in which it is located or is otherwise required to obtain state approval, and that
 the each eligible program satisfies the applicable educational prerequisites for professional licensure or certification requirements in each state in which it is located or is otherwise required to obtain state approval, so that a student who completes the program and seeks employment in that state qualifies to take any licensure or certification exam that is needed for the student to practice or find employment in an occupation that the program prepares students to enter. The Company timely made the required certification.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The requirements associated with the gainful employment regulations may substantially increase the Company&amp;#8217;s administrative burdens and could affect student enrollment, persistence and retention. Further, although the regulations provide opportunities for an institution to correct any potential deficiencies in a program prior to the loss of Title IV eligibility, the continuing eligibility of the Company&amp;#8217;s academic programs will be affected by factors beyond management&amp;#8217;s control such as changes in the Company&amp;#8217;s graduates&amp;#8217; income levels, changes in student borrowing levels, increases in interest rates, changes in the percentage of former students who are current in the repayment of their student loans, and various other factors. Even if the Company were able to correct any deficiency in the gainful employment metrics in a timely manner, the disclosure requirements associated with a program&amp;#8217;s failure to meet at least one metric may adversely affect student enrollments in that program and may adversely affect the reputation of the University.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;Strayer University must comply with the campus safety and security reporting requirements as well as other requirements in the Jeanne Clery Disclosure of Campus Security Policy and Campus Crime Statistics Act, or Clery Act, including recent changes made to the Clery Act by the Violence Against Women Reauthorization Act of 2013, which was signed into law on March 7, 2013. On April 1, 2014, a negotiated rulemaking committee reached consensus on proposed regulations, and on October 20, 2014, the Department promulgated regulations implementing the recent amendments to the Clery Act. In addition, the Department has interpreted Title IX to categorize sexual violence as a form of prohibited sex discrimination and to require institutions to follow certain disciplinary procedures with respect to such offenses. Failure to comply with the Clery Act or Title IX requirements or regulations thereunder could result in action by the Department to require correction action, fine the Company or limit or suspend its participation in Title IV programs, could lead to litigation, and could harm the Company&amp;#8217;s reputation. The Company is in compliance with these requirements.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;Strayer University is subject to announced and unannounced compliance reviews and audits by various external agencies, including the Department, its Office of Inspector General, state licensing agencies, and accrediting agencies. The Department conducted four campus-based program reviews of Strayer University campuses in three states and the District of Columbia, with one on-site review conducted August 18-20, 2014; one on-site review conducted September 8-11, 2014; and two on-site reviews conducted September 22-26, 2014. The reviews covered federal financial aid years 2012-2013 and 2013-2014, and two of the reviews also covered compliance with the Jeanne Clery Disclosure of Campus Security Policy and Campus Crime Statistics Act, the Drug-Free Schools and Communities Act, and regulations related thereto. On October 21, 2014, the Department issued an Expedited Final Program Review Determination Letter for one of the program reviews conducted the week of September 22, 2014, closing the program review with no further action required by the Company. On November 17, 2014, the Company received a Program Review Report for the program review conducted in August 2014, and provided a response to the Department on December 15, 2014. On January 7, 2015, the Company received a Final Program Review Determination letter from that review, closing the review with no further action required by the Company. On March 24, 2015, the Company received a Program Review Report for another program review, and provided a response to the Department on April 21, 2015. On April 29, 2015, the Company received a Final Program Review Determination Letter closing the review and identifying a payment of less than $500 due to the Department of Education based on an underpayment on a return to Title IV calculation. The Company remitted payment, and received a letter from the Department on May 26, 2015, indicating that no further action was required and that the matter was closed. On September 15, 2015, the Company received a Program Review report for the final program review, and provided a response to the Department on October 5, 2015. On January 5, 2016 the Company received a Final Program Review Determination letter for the final program review, indicating that the program review was closed and no further action was required.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;Each institution participating in Title IV programs must enter into a Program Participation Agreement with the Department. Under the agreement, the institution agrees to follow the Department&amp;#8217;s rules and regulations governing Title IV programs. On October 1, 2014, Strayer University received an executed provisional Program Participation Agreement from the Department allowing it to participate in Title IV programs until June 30, 2017. The Program Participation Agreement was issued on a provisional basis because of the Department&amp;#8217;s program reviews open at the time of issuance. Under the provisional agreement, the only material additional condition that the University must comply with is obtaining Department approval for substantial changes, including the addition of any new location, level of academic offering,
 non-degree program, or degree program.&lt;/p&gt;</stra:RegulationDisclosureTextBlock>
<us-gaap:SubsequentEventsTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;p class="h2note" style="font: bold 10pt/12pt timesnewromanpsstd-bold; margin: 12pt 0in 0pt 20pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;16.&lt;/font&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&lt;/font&gt;&amp;#160;Subsequent Event&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;On January 13, 2016, the Company acquired all of the outstanding shares of the New York Code and Design Academy, a provider of non-degree web and mobile app development courses. NYCDA will operate as a wholly owned subsidiary of the Company, and will maintain its current headquarters and management team based in New York City. The purchase price includes $7.0 million paid up front in cash, plus an additional contingent cash payment of up to $18.0 million based on the achievement of certain performance objectives including NYCDA&amp;#8217;s future revenue and results of operations for the five-year period ending December 31, 2020. NYCDA&amp;#8217;s operating results will be included in the Company&amp;#8217;s consolidated financial statements from the date of the acquisition.&lt;/p&gt;</us-gaap:SubsequentEventsTextBlock>
<us-gaap:ConsolidationPolicyTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Financial Statement Presentation&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, the University. On January 13, 2016, the Company acquired all of the outstanding stock of NYCDA, and the results of NYCDA will be included with the Company from the acquisition date. All intercompany accounts and transactions have been eliminated in the consolidated financial statements.&lt;/p&gt;</us-gaap:ConsolidationPolicyTextBlock>
<us-gaap:RevenueRecognitionSalesOfServices contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Revenue Recognition&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The Company&amp;#8217;s educational programs are offered on a quarterly basis and such periods coincide with the Company&amp;#8217;s quarterly financial reporting periods. Approximately 96% of the Company&amp;#8217;s revenues during the year ended December 31, 2015 consisted of tuition revenue, which is recognized in the quarter of instruction. Tuition revenue is assessed for collectibility on a student-by-student basis throughout the quarter of instruction, and is shown net of any refunds, withdrawals, corporate discounts, scholarships and employee tuition discounts. This collectibility assessment considers available sources of funds for the student including Federal Financial Student Aid programs. The Company reassesses the collectibility of tuition revenue that it may earn based on new information and changes in the facts and circumstances relevant to a student&amp;#8217;s ability to pay, including the timing of a student&amp;#8217;s withdrawal from a program of study.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;At the start of each academic term, a liability (deferred revenue) is recorded for academic services to be provided and a tuition receivable is recorded for the portion of the tuition not paid in advance. Any cash received prior to the start of an academic term is recorded as deferred revenue. Some students may be eligible for scholarship awards, the estimated value of which will be realized in the future and is deducted from revenue when earned, based on historical student attendance and completion behavior. Deferred revenue is recorded as a current or long-term liability in the consolidated balance sheets based on when the benefit is expected to be realized. Revenues also include textbook-related income, certificate revenue, certain academic fees, licensing revenue, and other income, which are recognized when earned.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The Company&amp;#8217;s refund policy typically permits students who complete less than half of a course to receive a partial refund of tuition for that course. Refunds reduce the tuition revenue that would have otherwise been recognized for that student. Since the Company&amp;#8217;s academic terms coincide with its financial reporting periods, nearly all refunds are processed and recorded within the same quarter as the corresponding revenue. The amount of tuition revenue refundable to students may vary based on the student&amp;#8217;s state of residence. Unused books and related academic materials may be returned for a full refund within 21 days of the start of class; however, purchases of electronic content are not refundable if downloaded. Revenues derived from fees are not eligible for a refund.&lt;/p&gt;</us-gaap:RevenueRecognitionSalesOfServices>
<stra:GraduationFundPolicyTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Graduation Fund&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;In the third quarter of 2013, the Company introduced the Graduation Fund, which allows new undergraduate students to earn tuition credits that are redeemable in the final year of a student&amp;#8217;s course of study if he or she successfully remains in the program. New students registering in credit-bearing courses in any undergraduate program for the summer 2013 term (fiscal third quarter) and subsequent terms qualify for the Graduation Fund. Students must meet all of the University&amp;#8217;s admission requirements, and must be enrolled in an undergraduate degree program. The Company&amp;#8217;s employees and their dependents are not eligible for the program. Students who have more than one consecutive term of non-attendance lose any Graduation Fund credits earned to date, but may earn and accumulate new credits if the student is reinstated or readmitted by the University in the future. In their final academic year, qualifying students will receive one free course for every three courses that were successfully completed.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;Revenue from students participating in the Graduation Fund is recorded in accordance with the Revenue Recognition Topic, ASC 605-50. The Company defers the value of benefits estimated to be redeemed in the future based on the underlying revenue transactions that result in progress by the student toward earning the benefit. The Company&amp;#8217;s estimate of the benefits that will be redeemed in the future is based on its historical experience of student persistence toward completion of a course of study within this program and similar programs. Each quarter, the Company assesses its methodologies and assumptions underlying these estimates and, to date, any adjustments to the estimates have not been material. The amount estimated to be redeemed in the next twelve months is $10.0 million and is included in deferred revenue as a current liability in the consolidated balance sheets.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The table below presents activity in the Graduation Fund for the years ended December 31, 2014 and 2015 (in thousands):&lt;/p&gt;
&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="472" valign="bottom" style="background: white; padding: 0in; width: 354pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="20" valign="bottom" style="background: white; padding: 0in; width: 15pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2014&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="20" valign="bottom" style="background: white; padding: 0in; width: 15pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2015&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="472" valign="bottom" style="background: #cceeff; padding: 0in; width: 354pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Balance
 at beginning of year&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="20" valign="bottom" style="background: #cceeff; padding: 0in; width: 15pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="40" valign="bottom" style="background: #cceeff; padding: 0in; width: 30pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;1,898&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="20" valign="bottom" style="background: #cceeff; padding: 0in; width: 15pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="40" valign="bottom" style="background: #cceeff; padding: 0in; width: 30pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;9,706&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="472" valign="bottom" style="background: white; padding: 0in; width: 354pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Revenue deferred&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="20" valign="bottom" style="background: white; padding: 0in; width: 15pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="40" valign="bottom" style="background: white; padding: 0in; width: 30pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;8,507&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="20" valign="bottom" style="background: white; padding: 0in; width: 15pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white;
 padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="40" valign="bottom" style="background: white; padding: 0in; width: 30pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;17,882&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="472" valign="bottom" style="background: #cceeff; padding: 0in; width: 354pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Benefit redeemed&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="20" valign="bottom" style="background: #cceeff; padding: 0in; width: 15pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="40" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 30pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(699&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="20" valign="bottom" style="background: #cceeff; padding: 0in; width: 15pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="40" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 30pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(6,651&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="472" valign="bottom" style="background: white; padding: 0in; width: 354pt;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Balance at end of year&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="20" valign="bottom" style="background: white; padding: 0in; width: 15pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor;
 border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="40" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 30pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;9,706&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="20" valign="bottom" style="background: white; padding: 0in; width: 15pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="40" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 30pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;20,937&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;</stra:GraduationFundPolicyTextBlock>
<us-gaap:CashAndCashEquivalentsPolicyTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 10pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Cash and Cash Equivalents&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;Cash and cash equivalents consist of cash maintained in mostly FDIC-insured bank accounts and cash invested in bank overnight deposits and money market mutual funds. The Company places its cash and temporary cash investments with various financial institutions. The Company considers all highly liquid instruments purchased with a maturity of three months or less at the date of purchase to be cash equivalents.&lt;/p&gt;</us-gaap:CashAndCashEquivalentsPolicyTextBlock>
<us-gaap:ConcentrationRiskCreditRisk contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Concentration of Credit Risk&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The Company places its cash and temporary cash investments in bank overnight deposits and money market mutual funds with various financial institutions. Cash and cash equivalent balances are in excess of the FDIC insurance limit. The Company has not experienced any losses on its cash and cash equivalents.&lt;/p&gt;</us-gaap:ConcentrationRiskCreditRisk>
<us-gaap:CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Restricted Cash&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;A significant portion of the Company&amp;#8217;s revenues are funded by various federal and state government programs. The Company generally does not receive funds from these programs prior to the start of the corresponding academic term. The Company may be required to return certain funds for students who withdraw from the University during the academic term. There were no amounts payable for these obligations at December 31, 2015. At December 31, 2014, the Company had approximately $0.2 million of these unpaid obligations, which are recorded as restricted cash and included in other current assets in the consolidated balance sheet.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;As part of commencing operations in Pennsylvania in 2003, the Company was required to maintain a &amp;#8220;minimum protective endowment&amp;#8221; of at least $0.5 million in an interest-bearing account. These funds are required as long as the Company operates its campuses in the state. The Company holds these funds in an interest-bearing account which is included in other assets.&lt;/p&gt;</us-gaap:CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy>
<us-gaap:ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Tuition Receivable and Allowance for Doubtful Accounts&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font style="letter-spacing: -0.1pt;"&gt;The Company records tuition receivable and deferred revenue for its students upon the start of the academic term. Therefore, at the end of the quarter (and academic term), tuition receivable represents amounts due from students for educational services already provided and deferred revenue represents advance payments from students for academic services to be provided in the future. Tuition receivables are not collateralized; however, credit risk is minimized as a result of the diverse nature of the University&amp;#8217;s student base. An allowance for doubtful accounts is established primarily based upon historical collection rates by age of receivable, net of estimated recoveries. These collection rates &lt;/font&gt;&lt;font style="letter-spacing: -0.1pt;"&gt;incorporate historical performance based on a student&amp;#8217;s current enrollment status and likelihood of future enrollment. The Company periodically assesses its methodologies for estimating bad debts in consideration of actual experience.&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The Company&amp;#8217;s tuition receivable and allowance for doubtful accounts were as follows as of December 31, 2014 and 2015 (in thousands):&lt;/p&gt;
&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 632px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="459" valign="bottom" style="background: white; padding: 0in; width: 344pt;"&gt;
&lt;p class="tchleft" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="59" valign="bottom" style="background: white; padding: 0in; width: 44pt;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;2014&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="24" valign="bottom" style="background: white; padding: 0in; width: 0.25in;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="59" valign="bottom" style="background: white; padding: 0in; width: 44pt;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;2015&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="459" valign="bottom" style="background: #cceeff; padding: 0in; width: 344pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Tuition receivable&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="43" valign="bottom" style="background: #cceeff; padding: 0in; width: 32pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;25,777&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family:
 timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="24" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.25in;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="43" valign="bottom" style="background: #cceeff; padding: 0in; width: 32pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;28,543&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="459" valign="bottom" style="background: white; padding: 0in; width: 344pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Allowance for doubtful accounts&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="43" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(8,835&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="24" valign="bottom" style="background: white; padding: 0in; width: 0.25in;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="43" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(10,024&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="459" valign="bottom" style="background: #cceeff; padding: 0in; width: 344pt;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Tuition receivable, net&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="43" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family:
 timesnewromanpsstd-regular; font-size: 10pt;"&gt;16,942&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="24" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.25in;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="43" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;18,519&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 10pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;Approximately $1.6 million and $2.0 million of tuition receivable is included in other assets as of December 31, 2014 and 2015, respectively, because these amounts are expected to be collected after 12 months.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The following table illustrates changes in the Company&amp;#8217;s allowance for doubtful accounts for each of the three years ended December 31, 2015 (in thousands):&lt;/p&gt;
&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="57%" valign="bottom" style="padding: 0in; width: 347px;"&gt;
&lt;p class="tchleft" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="padding: 0in; width: 59px;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2013&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="padding: 0in; width: 18px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="padding: 0in; width: 56px;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2014&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="padding: 0in; width: 18px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size:
 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="padding: 0in; width: 56px;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2015&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="57%" valign="bottom" style="background: #cceeff; padding: 0in; width: 347px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Beginning allowance for doubtful accounts&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; width: 43px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;6,596&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 18px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; width: 42px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;10,303&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 18px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; width: 42px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;8,835&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="57%" valign="bottom" style="padding: 0in; width: 347px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Additions charged to expense&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 8px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="padding: 0in; width: 43px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal;
 padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;22,225&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 8px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="padding: 0in; width: 18px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="padding: 0in; width: 42px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;16,947&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="padding: 0in; width: 18px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="padding: 0in; width: 42px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;13,067&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="57%" valign="bottom" style="background: #cceeff; padding: 0in; width: 347px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Write-offs, net of recoveries&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 8px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 43px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(18,518&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 18px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none;
 text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 42px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(18,415&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 18px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 42px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(11,878&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="57%" valign="bottom" style="padding: 0in; width: 347px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Ending allowance for doubtful accounts&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none double; padding: 0in; width: 8px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="border-style: none none double; padding: 0in; width: 43px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;10,303&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 8px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="padding: 0in; width: 18px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="border-style: none none double; padding: 0in; width: 42px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;8,835&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font
 style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="padding: 0in; width: 18px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="border-style: none none double; padding: 0in; width: 42px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;10,024&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;</us-gaap:ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy>
<us-gaap:PropertyPlantAndEquipmentPolicyTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;p class="h4" style="color: black; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 10pt 0in 0.0001pt; line-height: 12pt; page-break-after: avoid; font-size: 10pt; font-family: timesnewromanpsstd-italic; font-style: italic;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Property and Equipment&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="color: black; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 6pt 0in 0.0001pt; text-indent: 20pt; line-height: 12pt; font-size: 10pt; font-family: timesnewromanpsstd-regular;"&gt;Property and equipment are stated at cost less accumulated depreciation and amortization. In accordance with the Property, Plant and Equipment Topic, ASC 360, the carrying values of the Company&amp;#8217;s assets are re-evaluated when events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If it is determined that an impairment loss has occurred based on expected undiscounted future cash flows, then a loss is recognized using a fair value-based model. Through 2015, no such impairment loss had occurred. Depreciation and amortization of property and equipment is calculated using the straight-line method over the estimated useful lives ranging from 3 to 40 years. Depreciation and amortization amounted to $35.6 million, $20.6 million and $18.1 million for the years ended December 31, 2013, 2014, and 2015, respectively.&lt;/p&gt;
&lt;p class="textind" style="color: black; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 6pt 0in 0.0001pt; text-indent: 20pt; line-height: 12pt; font-size: 10pt; font-family: timesnewromanpsstd-regular;"&gt;Construction in progress includes costs of computer software developed for internal use, which is accounted for in accordance with the Internal-Use Software Topic, ASC 350-40. Computer software development costs that are incurred in the preliminary project stage are expensed as incurred. During the development stage, direct consulting costs, payroll, and payroll-related costs for employees that are directly associated with the project are capitalized and will be amortized over the estimated useful life of the software once placed into operation. Purchases of property and equipment and changes in accounts payable for each of the three years in the period ended December 31, 2015 in the Consolidated Statements of Cash Flows have been adjusted to exclude non-cash purchases of property and equipment transactions during that period.&lt;/p&gt;</us-gaap:PropertyPlantAndEquipmentPolicyTextBlock>
<us-gaap:FairValueOfFinancialInstrumentsPolicy contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Fair Value&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The Fair Value Measurement Topic, ASC 820-10 (&amp;#8220;ASC 820-10&amp;#8221;), establishes a framework for measuring fair value, establishes a fair value hierarchy based upon the observability of inputs used to measure fair value, and expands disclosures about fair value measurements. Assets and liabilities are classified in their entirety within the fair value hierarchy based on the lowest level input that is significant to the fair value measurement. Under ASC 820-10, fair value of an investment is the price that would be received to sell an asset or to transfer a liability to an entity in an orderly transaction between market participants at the measurement date. The hierarchy gives the highest priority to assets and liabilities with readily available quoted prices in an active market and lowest priority to unobservable inputs which require a higher degree of judgment when measuring fair value, as follows:&lt;/p&gt;
&lt;p class="blm" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt 40pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 13pt;"&gt;&amp;#8226;&lt;/font&gt;&lt;/font&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/font&gt;&amp;#160;Level 1 assets or liabilities use quoted prices in active markets for identical assets or liabilities as of the measurement date;&lt;/p&gt;
&lt;p class="blm" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt 40pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 13pt;"&gt;&amp;#8226;&lt;/font&gt;&lt;/font&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/font&gt;&amp;#160;Level 2 assets or liabilities use observable inputs, other than quoted market prices, that are either directly or indirectly observable in the marketplace for identical or similar assets and liabilities; and&lt;/p&gt;
&lt;p class="blm" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 7pt 0in 0pt 40pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 13pt;"&gt;&amp;#8226;&lt;/font&gt;&lt;/font&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/font&gt;&amp;#160;Level 3 assets or liabilities use unobservable inputs that are supported by little or no market activity.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 7pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The Company&amp;#8217;s assets and liabilities that are subject to fair value measurement are categorized in one of the three levels above. Fair values are based on the inputs available at the measurement dates, and may rely on certain assumptions that may affect the valuation of fair value for certain assets or liabilities.&lt;/p&gt;</us-gaap:FairValueOfFinancialInstrumentsPolicy>
<us-gaap:GoodwillAndIntangibleAssetsPolicyTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;p class="h4" style="color: black; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 12pt 0in 0.0001pt; line-height: 12pt; page-break-after: avoid; font-size: 10pt; font-family: timesnewromanpsstd-italic; font-style: italic;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Goodwill and Indefinite-Lived Intangible Assets&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="color: black; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 7pt 0in 0.0001pt; text-indent: 20pt; line-height: 12pt; font-size: 10pt; font-family: timesnewromanpsstd-regular;"&gt;Goodwill represents the excess of the purchase price of an acquired business over the amount assigned to the assets acquired and liabilities assumed. Indefinite-lived intangible assets, which include a trade name, are recorded at fair market value on their acquisition date. An indefinite life was assigned to the trade name because it has the continued ability to generate cash flows indefinitely.&lt;/p&gt;
&lt;p class="textind" style="color: black; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 7pt 0in 0.0001pt; text-indent: 20pt; line-height: 12pt; font-size: 10pt; font-family: timesnewromanpsstd-regular;"&gt;Goodwill and the indefinite-lived intangible asset are assessed at least annually for impairment during the three-month period ending September 30, or more frequently if events occur or circumstances change between annual tests that would more likely than not reduce the fair value of the respective reporting unit below its carrying amount. Under Accounting Standards Update No. 2011-08,&amp;#160;&lt;font class="italic" style="font-style: italic;"&gt;Intangibles-Goodwill and Other (Topic 350): Testing Goodwill for Impairment&lt;/font&gt;, the Company is permitted, but not required, to first assess qualitative factors to determine whether it is necessary to perform the more thorough quantitative goodwill impairment test. Following its qualitative assessment, the Company determined it was not more likely than not that the fair value of its goodwill was less than the carrying amount and, accordingly, no impairment existed in 2015.&lt;/p&gt;</us-gaap:GoodwillAndIntangibleAssetsPolicyTextBlock>
<stra:LongTermLiabilitiesPolicyTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 13pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Long-Term Liabilities&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 7pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;Included in the Company&amp;#8217;s long-term liabilities are amounts related to the Company&amp;#8217;s operating leases, deferred payments related to an acquisition completed in 2011, the fair value of the Company&amp;#8217;s interest rate swap, and the non-current portion of deferred revenue. In conjunction with the opening of some campuses and other facilities, the Company was reimbursed by the lessors for improvements made to those leased properties. In accordance with the Operating Leases Subtopic, ASC 840-20 (&amp;#8220;ASC 840-20&amp;#8221;), these underlying assets were capitalized as leasehold improvements and a liability was established for the reimbursements. The leasehold improvements and the liability are amortized on a straight-line basis over the corresponding lease terms, which generally range from five to ten years. In accordance with ASC 840-20, the Company records rent expense on a straight-line basis over the initial term of a lease. The cumulative difference between the rent payment and the straight-line rent expense is recorded as a liability. The Company also records the non-current portion of the gain related to the sale and lease back of a campus facility as a long-term liability.&lt;/p&gt;</stra:LongTermLiabilitiesPolicyTextBlock>
<us-gaap:DerivativesMethodsOfAccountingHedgingDerivatives contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Accounting for Derivative Instruments and Hedging Activities&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 7pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;On the date that the Company enters into a derivative contract, it designates the derivative as a hedge of (a) a forecasted transaction or (b) the variability of cash flows that are to be received or paid in connection with a recognized asset or liability (a cash flow hedge). All derivatives are recognized in the balance sheet at their fair value.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 7pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;Changes in the fair value of a derivative that is highly effective and that is designated and qualifies as a cash flow hedge, to the extent that the hedge is effective, are recorded, net of income tax, in other comprehensive income, until earnings are affected by the variability of cash flows of the hedged transaction (e.g., until periodic settlements of a variable-rate asset or liability are recorded in earnings). Any hedge ineffectiveness (which represents the amount by which the changes in the fair value of the derivative exceed the variability in the cash flows of the forecasted transaction) is recorded in current-period earnings.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 7pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The Company formally documents all relationships between hedging instruments and hedged items, as well as its risk-management objective and strategy for undertaking various hedge transactions. The Company also formally assesses (both at the hedge&amp;#8217;s inception and on an ongoing basis) whether the derivatives that are used in hedging transactions have been highly effective in offsetting changes in the fair value or cash flows of hedged items and whether those derivatives may be expected to remain highly effective in future periods. When it is determined that a derivative is not (or has ceased to be) highly effective as a hedge, the Company discontinues hedge accounting prospectively.&lt;/p&gt;</us-gaap:DerivativesMethodsOfAccountingHedgingDerivatives>
<stra:AuthorizedStockPolicyTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Authorized Stock&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The Company has authorized 20,000,000 shares of common stock, par value $.01, of which 10,903,341 and 11,027,177 shares were issued and outstanding as of December 31, 2014 and 2015, respectively. The Company also has authorized 8,000,000 shares of preferred stock, none of which has been issued or outstanding since 2004. Before any preferred stock may be issued in the future, the Board of Directors would need to establish the preferences, conversion or other rights, voting powers, restrictions, limitations as to dividends, qualifications, and the terms or conditions of the redemption of the preferred stock.&lt;/p&gt;</stra:AuthorizedStockPolicyTextBlock>
<us-gaap:AdvertisingCostsPolicyTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Advertising Costs&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The Company expenses advertising costs in the quarter incurred, except for costs associated with the production of media commercials which are expensed when the commercial is first aired.&lt;/p&gt;</us-gaap:AdvertisingCostsPolicyTextBlock>
<us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Stock-Based Compensation&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;As required by the Stock Compensation Topic, ASC 718, the Company measures and recognizes compensation expense for all share-based payment awards made to employees and directors, including employee stock options, restricted stock, restricted stock units, and employee stock purchases related to the Company&amp;#8217;s Employee Stock Purchase Plan, based on estimated fair values. Stock-based compensation expense recognized in the Consolidated Statements of Income for each of the three years in the period ended December 31, 2015 is based on awards ultimately expected to vest and, therefore, has been adjusted for estimated forfeitures. The Company is required to estimate forfeitures at the time of grant and revise the estimate, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The forfeiture rate used is based on historical experience. The Company also assesses the likelihood that performance criteria associated with performance-based awards will be met. If it is determined that it is more likely than not that performance criteria will not be achieved, the Company revises its estimate of the number of shares it believes will ultimately vest.&lt;/p&gt;</us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy>
<us-gaap:EarningsPerSharePolicyTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Net Income Per Share&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;Basic earnings per share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the periods. Diluted earnings per share reflects the potential dilution that could occur assuming conversion or exercise of all dilutive unexercised stock options, restricted stock and restricted stock units. The dilutive effect of stock awards was determined using the treasury stock method. Under the treasury stock method, all of the following are assumed to be used to repurchase shares of the Company&amp;#8217;s common stock: (1) the proceeds received from the exercise of stock options, (2) the amount of compensation cost associated with the stock awards for future service not yet recognized by the Company, and (3) the amount of tax benefits that would be recorded in additional paid-in capital when the stock awards become deductible for income tax purposes. Stock options are not included in the computation of diluted earnings per share when the stock option exercise price of an individual grant exceeds the average market price for the period. During the year ended December 31, 2015, the Company had no issued and outstanding stock options that were excluded from the calculation.&amp;#160;&lt;font style="letter-spacing: -0.05pt;"&gt;Set forth below is a reconciliation of shares used to calculate basic and diluted earnings per share for each of the three years ended December 31, 2015 (in thousands):&lt;/font&gt;&lt;/p&gt;
&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="60%" valign="bottom" style="padding: 0in; width: 364px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 48px;"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2013&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="padding: 0in; width: 23px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 48px;"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2014&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="padding: 0in; width: 22px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 47px;"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2015&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="60%" valign="bottom" style="background: #cceeff; padding: 0in; width: 364px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Weighted average shares outstanding used to compute basic earnings per share&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 48px;"&gt;
&lt;p
 class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;10,584&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 23px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 48px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;10,561&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 22px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 47px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;10,588&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="60%" valign="bottom" style="padding: 0in; width: 364px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Incremental shares issuable upon the assumed exercise of stock&lt;br /&gt;options&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 48px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="padding: 0in; width: 23px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 48px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;6&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="padding: 0in; width: 22px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 47px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;6&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="60%" valign="bottom" style="background: #cceeff; padding: 0in; width: 364px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Unvested restricted stock and restricted stock units&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 48px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border:
 currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;40&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 23px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 48px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;83&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 22px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 47px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;146&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="60%" valign="bottom" style="padding: 0in; width: 364px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Shares used to compute diluted earnings per share&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="border-style: none none double; padding: 0in; width: 48px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;10,624&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="padding: 0in; width: 23px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="border-style: none none double; padding: 0in; width: 48px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;10,650&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="padding: 0in; width: 22px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="border-style: none none double; padding: 0in; width: 47px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;10,740&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;</us-gaap:EarningsPerSharePolicyTextBlock>
<us-gaap:IncomeTaxPolicyTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Income Taxes&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The Company provides for deferred income taxes based on temporary differences between financial statement and income tax bases of assets and liabilities using enacted tax rates in effect in the year in which the differences are expected to reverse.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The Income Taxes Topic, ASC 740, requires the company to determine whether uncertain tax positions should be recognized within the Company&amp;#8217;s financial statements. The Company recognizes interest and penalties, if any, related to uncertain tax positions in income tax expense. Uncertain tax positions are recognized when a tax position, based solely on its technical merits, is determined to be more likely than not to be sustained upon examination. Upon determination, uncertain tax positions are measured to determine the amount of benefit that is greater than 50% likely to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. A tax position is derecognized if it no longer meets the more likely than not threshold of being sustained.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The tax years 2012-2015 remain open for Federal tax examination and the tax years 2011-2015 remain open to examination by state and local taxing jurisdictions in which the Company is subject.&lt;/p&gt;</us-gaap:IncomeTaxPolicyTextBlock>
<us-gaap:UseOfEstimates contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Use of Estimates&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of expenses during the period reported. The most significant management estimates included allowances for doubtful accounts, the useful lives of property and equipment, fair value of future contractual operating lease obligations, potential sublease income and vacancy periods, accrued expenses, forfeiture rates and the likelihood of achieving performance criteria for stock-based awards, value of free courses earned by students that will be redeemed in the future, valuation of goodwill, intangible assets and the interest rate swap arrangement, and the provision for income taxes. Actual results could differ from those estimates.&lt;/p&gt;</us-gaap:UseOfEstimates>
<us-gaap:ComprehensiveIncomePolicyPolicyTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Comprehensive Income&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;Comprehensive income consists of net income and the change in the fair value of the Company&amp;#8217;s interest rate swap, net of income taxes.&lt;/p&gt;</us-gaap:ComprehensiveIncomePolicyPolicyTextBlock>
<us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="italic" style="font-style: italic;"&gt;Recent Accounting Pronouncements&lt;/font&gt;&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;In May 2014, the FASB issued ASU No. 2014-09, &amp;#8220;Revenue from Contracts with Customers (Topic 606)&amp;#8221; (&amp;#8220;ASU 2014-09&amp;#8221;). The standard establishes a new recognition model that requires revenue to be recognized in a manner to depict the transfer of goods or services to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services. ASU 2014-09 is effective for fiscal years beginning after December 15, 2017. The Company currently is evaluating the impact that the standard will have on its financial condition, results of operations, and disclosures.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;In April 2015, the FASB issued ASU No. 2015-03, &amp;#8220;Interest - Imputation of Interest (Subtopic 835-30)&amp;#8221; (&amp;#8220;ASU 2015-03&amp;#8221;). The new guidance requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 is effective for financial statements issued for fiscal years beginning after December 15, 2015. The new guidance will be applied on a retrospective basis, and early adoption is permitted. The Company currently is evaluating the impact that the standard will have on its financial condition, results of operations, and disclosures.&lt;/p&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;In November 2015, the FASB issued ASU No. 2015-17, &amp;#8220;Balance Sheet Classification of Deferred Taxes&amp;#8221; (&amp;#8220;ASU 2015-17&amp;#8221;). The new guidance requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The amendments in ASU 2015-17 are effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. The Company intends to adopt the standard during the first quarter of 2016.&lt;/p&gt;</us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock>
<stra:ScheduleOfGraduationFundLiabilityTableTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;div&gt;
&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;/p&gt;
&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: center; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td style="text-align: center; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td style="text-align: center; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6"&gt;&lt;b&gt;Year Ended December 31,&lt;/b&gt;&lt;/td&gt;
&lt;td style="text-align: center; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: center; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td style="text-align: center; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td style="text-align: center; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;&lt;b&gt;2014&lt;/b&gt;&lt;/td&gt;
&lt;td style="text-align: center; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td style="text-align: center; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;td style="text-align: center; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;&lt;b&gt;2015&lt;/b&gt;&lt;/td&gt;
&lt;td style="text-align: center; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="width: 950.4px; text-align: left; text-indent: 0px; padding-left: 0px;"&gt;Balance at beginning of year&lt;/td&gt;
&lt;td style="width: 12.8px; text-indent: 0px; padding-left: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 12.8px; text-align: left; text-indent: 0px; padding-left: 0px;"&gt;$&lt;/td&gt;
&lt;td style="width: 112.8px; text-align: right; text-indent: 0px; padding-left: 0px;"&gt;1,898&lt;/td&gt;
&lt;td style="width: 12.8px; text-align: left; text-indent: 0px; padding-left: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 12.8px; text-indent: 0px; padding-left: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 12px; text-align: left; text-indent: 0px; padding-left: 0px;"&gt;$&lt;/td&gt;
&lt;td style="width: 112px; text-align: right; text-indent: 0px; padding-left: 0px;"&gt;9,706&lt;/td&gt;
&lt;td style="width: 12px; text-align: left; text-indent: 0px; padding-left: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left; text-indent: 0px; padding-left: 0px;"&gt;Revenue deferred&lt;/td&gt;
&lt;td style="text-indent: 0px; padding-left: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; text-indent: 0px; padding-left: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; text-indent: 0px; padding-left: 0px;"&gt;8,507&lt;/td&gt;
&lt;td style="text-align: left; text-indent: 0px; padding-left: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-indent: 0px; padding-left: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; text-indent: 0px; padding-left: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; text-indent: 0px; padding-left: 0px;"&gt;17,882&lt;/td&gt;
&lt;td style="text-align: left; text-indent: 0px; padding-left: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"&gt;Benefit redeemed&lt;/td&gt;
&lt;td style="text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;(699&lt;/td&gt;
&lt;td style="text-align: left; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"&gt;)&lt;/td&gt;
&lt;td style="text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;(6,651&lt;/td&gt;
&lt;td style="text-align: left; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left; text-indent: 0px; padding-bottom: 4pt; padding-left: 10pt;"&gt;Balance at end of year&lt;/td&gt;
&lt;td style="text-indent: 0px; padding-bottom: 4pt; padding-left: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;9,706&lt;/td&gt;
&lt;td style="text-align: left; text-indent: 0px; padding-bottom: 4pt; padding-left: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-indent: 0px; padding-bottom: 4pt; padding-left: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;20,937&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;/div&gt;</stra:ScheduleOfGraduationFundLiabilityTableTextBlock>
<us-gaap:ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 632px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="459" valign="bottom" style="background: white; padding: 0in; width: 344pt;"&gt;
&lt;p class="tchleft" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="59" valign="bottom" style="background: white; padding: 0in; width: 44pt;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;2014&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="24" valign="bottom" style="background: white; padding: 0in; width: 0.25in;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="59" valign="bottom" style="background: white; padding: 0in; width: 44pt;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;2015&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="459" valign="bottom" style="background: #cceeff; padding: 0in; width: 344pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Tuition receivable&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="43" valign="bottom" style="background: #cceeff; padding: 0in; width: 32pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;25,777&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="24" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.25in;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="43" valign="bottom" style="background: #cceeff; padding: 0in; width: 32pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;28,543&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="459" valign="bottom" style="background: white; padding: 0in; width: 344pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Allowance for doubtful accounts&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height:
 normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="43" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(8,835&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="24" valign="bottom" style="background: white; padding: 0in; width: 0.25in;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="43" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(10,024&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="459" valign="bottom" style="background: #cceeff; padding: 0in; width: 344pt;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Tuition receivable, net&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="43" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;16,942&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="24" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.25in;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="43" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal;
 font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;18,519&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;</us-gaap:ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock>
<stra:ScheduleOfAllowanceForDoubtfulAccountsTableTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="57%" valign="bottom" style="padding: 0in; width: 347px;"&gt;
&lt;p class="tchleft" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="padding: 0in; width: 59px;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2013&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="padding: 0in; width: 18px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="padding: 0in; width: 56px;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2014&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="padding: 0in; width: 18px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="padding: 0in; width: 56px;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2015&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="57%" valign="bottom" style="background: #cceeff; padding: 0in; width: 347px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Beginning allowance for doubtful accounts&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; width: 43px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;6,596&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 18px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size:
 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; width: 42px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;10,303&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 18px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; width: 42px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;8,835&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="57%" valign="bottom" style="padding: 0in; width: 347px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Additions charged to expense&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 8px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="padding: 0in; width: 43px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;22,225&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 8px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="padding: 0in; width: 18px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="padding: 0in; width: 42px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;16,947&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="padding: 0in; width: 18px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="padding: 0in; width: 42px;"&gt;
&lt;p
 class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;13,067&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="57%" valign="bottom" style="background: #cceeff; padding: 0in; width: 347px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Write-offs, net of recoveries&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 8px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 43px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(18,518&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 18px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 42px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(18,415&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 18px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 42px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(11,878&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="57%" valign="bottom" style="padding: 0in; width: 347px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Ending allowance for doubtful accounts&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom"
 style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none double; padding: 0in; width: 8px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="border-style: none none double; padding: 0in; width: 43px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;10,303&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 8px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="padding: 0in; width: 18px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="border-style: none none double; padding: 0in; width: 42px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;8,835&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="padding: 0in; width: 18px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="6%" valign="bottom" style="border-style: none none double; padding: 0in; width: 42px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;10,024&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;</stra:ScheduleOfAllowanceForDoubtfulAccountsTableTextBlock>
<us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="60%" valign="bottom" style="padding: 0in; width: 364px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 48px;"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2013&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="padding: 0in; width: 23px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 48px;"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2014&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="padding: 0in; width: 22px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 47px;"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2015&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="60%" valign="bottom" style="background: #cceeff; padding: 0in; width: 364px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Weighted average shares outstanding used to compute basic earnings per share&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 48px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;10,584&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 23px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 48px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;10,561&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 22px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family:
 timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 47px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;10,588&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="60%" valign="bottom" style="padding: 0in; width: 364px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Incremental shares issuable upon the assumed exercise of stock&lt;br /&gt;options&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 48px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="padding: 0in; width: 23px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 48px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;6&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="padding: 0in; width: 22px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 47px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;6&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="60%" valign="bottom" style="background: #cceeff; padding: 0in; width: 364px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Unvested restricted stock and restricted stock units&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 48px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;40&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 23px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 48px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;83&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 22px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular;
 font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 47px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;146&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="60%" valign="bottom" style="padding: 0in; width: 364px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Shares used to compute diluted earnings per share&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="border-style: none none double; padding: 0in; width: 48px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;10,624&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="padding: 0in; width: 23px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="border-style: none none double; padding: 0in; width: 48px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;10,650&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="3%" valign="bottom" style="padding: 0in; width: 22px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="border-style: none none double; padding: 0in; width: 47px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;10,740&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;</us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock>
<us-gaap:ScheduleOfRestructuringReserveByTypeOfCostTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 628px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="64" valign="bottom" style="width: 48pt; padding: 0in; background: white;" colspan="3"&gt;
&lt;div style="border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0.0001pt; line-height: normal; border: none; padding: 0in 0in 0pt; text-align: center; font-size: 8pt; font-family: timesnewromanpsstd-bold; color: black; font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Lease&lt;br /&gt;and Related&lt;br /&gt;Costs, Net&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="89" valign="bottom" style="width: 67pt; padding: 0in; background: white;" colspan="3"&gt;
&lt;div style="border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0.0001pt; line-height: normal; border: none; padding: 0in 0in 0pt; text-align: center; font-size: 8pt; font-family: timesnewromanpsstd-bold; color: black; font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Severance&lt;br /&gt;and Other&lt;br /&gt;Employee&lt;br /&gt;Separation Costs&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="64" valign="bottom" style="width: 48pt; padding: 0in; background: white;" colspan="3"&gt;
&lt;div style="border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0.0001pt; line-height: normal; border: none; padding: 0in 0in 0pt; text-align: center; font-size: 8pt; font-family: timesnewromanpsstd-bold; color: black; font-weight: bold;"&gt;Total&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbody" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 10pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;Balance at December 31, 2012&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodyrightalign" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodyrightalign" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="73" valign="bottom" style="width: 55pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td
 width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodyrightalign" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyind1" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 20pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&lt;font lang="en-gb"&gt;Restructuring and other charges&lt;font class="superscript" style="font-size: 6pt; vertical-align: super;"&gt;(1)&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;47,792&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="73" valign="bottom" style="width: 55pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;6,898&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;54,690&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyind1" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 20pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;Payments&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color:
 black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;(103&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodybracket" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="73" valign="bottom" style="width: 55pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;(6,120&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodyrule1" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;(6,223&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodybracket" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyind1" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 20pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&lt;font lang="en-gb"&gt;Adjustments&lt;font class="superscript" style="font-size: 6pt; vertical-align: super;"&gt;(2)&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule1brack" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule1brack" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;(5,139&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="73" valign="bottom" style="width: 55pt;
 border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;1,438&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule1brack" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule1brack" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;(3,701&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbody" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 10pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;Balance at December 31, 2013&lt;font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 6pt; line-height: normal; font-family: timesnewromanpsstd-bold;"&gt;&lt;sup&gt;(1)&lt;/sup&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border: none; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; border: none; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;42,550&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border: none; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="73" valign="bottom" style="width: 55pt; border: none; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;2,216&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border: none; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; border: none; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;44,766&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular;
 color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyind1" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 20pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;Payments&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: white;"&gt;
&lt;p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;(12,418&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p align="left" class="tbodybracket" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="73" valign="bottom" style="width: 55pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;(2,138&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p align="left" class="tbodybracket" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: white;"&gt;
&lt;p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;(14,556&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p align="left" class="tbodybracket" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyind1" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 20pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&lt;font lang="en-gb"&gt;Adjustments&lt;font class="superscript" style="font-size: 6pt; vertical-align: super;"&gt;(2)&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrule1brack" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrule1brack" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;(2,849&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: #cceeff;"&gt;
&lt;p
 class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="73" valign="bottom" style="width: 55pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;(78&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodyrule1" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrule1brack" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrule1brack" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;(2,927&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: white;"&gt;
&lt;p class="tbody" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 10pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;Balance at December 31, 2014&lt;font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 6pt; line-height: normal; font-family: timesnewromanpsstd-bold;"&gt;&lt;sup&gt;(1)&lt;/sup&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border: none; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; border: none; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;27,283&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border: none; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="73" valign="bottom" style="width: 55pt; border: none; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt;
 font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border: none; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; border: none; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;27,283&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyind1" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 20pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;Payments&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;(7,754&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodybracket" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="73" valign="bottom" style="width: 55pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;(7,754&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodybracket" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyind1" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 20pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&lt;font lang="en-gb"&gt;Adjustments&lt;font class="superscript" style="font-size: 6pt; vertical-align: super;"&gt;(2)&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; border-style: none none solid; border-bottom-color:
 windowtext; border-bottom-width: 1pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;526&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="73" valign="bottom" style="width: 55pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;526&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbody" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 10pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;Balance at December 31, 2015&lt;font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 6pt; line-height: normal; font-family: timesnewromanpsstd-bold;"&gt;&lt;sup&gt;(1)&lt;/sup&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodyrule2" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrule2" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;20,055&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font
 style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodyrule2" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="73" valign="bottom" style="width: 55pt; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrule2" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodyrule2" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrule2" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;20,055&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p class="tablefootnotef" style="color: black; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 0in 0in 0.0001pt 20pt; border: none; text-indent: -20pt; padding: 0in; font-size: 8pt; font-family: timesnewromanpsstd-regular;"&gt;____________&lt;/p&gt;
&lt;p class="tablefootnotef" style="color: black; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 0in 0in 0.0001pt 20pt; border: none; text-indent: -20pt; padding: 0in; font-size: 8pt; font-family: timesnewromanpsstd-regular;"&gt;(1)&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&amp;#160;The current portion of restructuring liabilities was $6.0 million and $4.8 million as of December 31, 2014 and December 31, 2015, respectively, which are included in accounts payable and accrued expenses. The long-term portion is included in other long-term liabilities.&lt;/p&gt;
&lt;p class="tablefootnotem" style="color: black; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 1pt 0in 0.0001pt 20pt; text-indent: -20pt; line-height: 10pt; font-size: 8pt; font-family: timesnewromanpsstd-regular;"&gt;(2)&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&amp;#160;Adjustments for lease and related costs include accretion of interest on lease costs, partially offset by changes in the timing and expected income from sublease agreements signed during the period. Adjustments for severance and other employee separation costs include amounts related to employees who were re-hired to other roles within the Company and were not paid severance.&lt;/p&gt;</us-gaap:ScheduleOfRestructuringReserveByTypeOfCostTextBlock>
<us-gaap:PropertyPlantAndEquipmentTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 624px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="360" valign="bottom" style="background: white; padding: 0in; width: 3.75in;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="68" valign="bottom" style="background: white; padding: 0in; width: 51pt;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2014&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="68" valign="bottom" style="background: white; padding: 0in; width: 51pt;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2015&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="96" valign="bottom" style="background: white; padding: 0in; width: 1in;"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Estimated useful&lt;br /&gt;life (years)&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="360" valign="bottom" style="background: #cceeff; padding: 0in; width: 3.75in;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Land&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="52" valign="bottom" style="background: #cceeff; padding: 0in; width: 39pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;7,138&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="52" valign="bottom" style="background: #cceeff; padding: 0in; width: 39pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;7,138&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="96" valign="bottom" style="background: #cceeff; padding: 0in; width: 1in;"&gt;
&lt;p class="tbodycenteralign" style="margin: 0in 0in 0pt; text-align: center; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="360" valign="bottom" style="background: white; padding: 0in; width: 3.75in;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Buildings and improvements&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal;
 font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="52" valign="bottom" style="background: white; padding: 0in; width: 39pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;18,998&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="52" valign="bottom" style="background: white; padding: 0in; width: 39pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;19,109&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="96" valign="bottom" style="background: white; padding: 0in; width: 1in;"&gt;
&lt;p class="tbodycenteralign" style="margin: 0in 0in 0pt; text-align: center; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;5&amp;#8211;40&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="360" valign="bottom" style="background: #cceeff; padding: 0in; width: 3.75in;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Furniture, equipment, and computer hardware and software&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="52" valign="bottom" style="background: #cceeff; padding: 0in; width: 39pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;153,417&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="52" valign="bottom" style="background: #cceeff; padding: 0in; width: 39pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;150,597&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="96" valign="bottom" style="background: #cceeff; padding: 0in; width: 1in;"&gt;
&lt;p class="tbodycenteralign" style="margin: 0in 0in 0pt; text-align: center; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;5&amp;#8211;10&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="360" valign="bottom" style="background: white; padding: 0in; width: 3.75in;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Leasehold improvements&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td
 width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="52" valign="bottom" style="background: white; padding: 0in; width: 39pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;38,732&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="52" valign="bottom" style="background: white; padding: 0in; width: 39pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;38,639&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="96" valign="bottom" style="background: white; padding: 0in; width: 1in;"&gt;
&lt;p class="tbodycenteralign" style="margin: 0in 0in 0pt; text-align: center; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;3&amp;#8211;10&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="360" valign="bottom" style="background: #cceeff; padding: 0in; width: 3.75in;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Construction in progress&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="52" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 39pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;1,942&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="52" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 39pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;4,251&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="96" valign="bottom" style="background: #cceeff; padding: 0in; width: 1in;"&gt;
&lt;p class="tbodycenteralign" style="margin: 0in 0in 0pt; text-align: center; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="360" valign="bottom" style="background: white; padding: 0in; width: 3.75in;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom"
 style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; border: currentcolor; border-image: none; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="52" valign="bottom" style="background: white; padding: 0in; border: currentcolor; border-image: none; width: 39pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;220,227&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; border: currentcolor; border-image: none; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="52" valign="bottom" style="background: white; padding: 0in; border: currentcolor; border-image: none; width: 39pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;219,734&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="96" valign="bottom" style="background: white; padding: 0in; width: 1in;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="360" valign="bottom" style="background: #cceeff; padding: 0in; width: 3.75in;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Accumulated depreciation and amortization&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="52" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 39pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(137,961&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="52" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 39pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(142,595&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="96" valign="bottom" style="background: #cceeff; padding: 0in; width: 1in;"&gt;
&lt;p
 class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="360" valign="bottom" style="background: white; padding: 0in; width: 3.75in;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="52" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 39pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;82,266&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="52" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 39pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;77,139&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="96" valign="bottom" style="background: white; padding: 0in; width: 1in;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
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<us-gaap:ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
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&lt;td width="35%" valign="bottom" style="padding: 0in; width: 215px;"&gt;
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&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
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&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="padding: 0in; width: 65px;" colspan="2"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
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&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
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&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="46%" valign="bottom" style="padding: 0in; width: 279px;" colspan="12"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Fair Value Measurements at Reporting Date Using&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="padding: 0in; width: 215px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="padding: 0in; width: 65px;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;December 31, 2015&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="14%" valign="bottom" style="padding: 0in; width: 85px;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="padding: 0in; width: 63px;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Significant&lt;br /&gt;Other&lt;br /&gt;Observable&lt;br /&gt;Inputs&lt;br /&gt;(Level 2)&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in;
 width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="padding: 0in; width: 67px;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Significant Unobservable Inputs&lt;br /&gt;(Level 3)&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 215px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Assets:&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 58px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="background: #cceeff; padding: 0in; width: 78px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 56px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td
 width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 60px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="padding: 0in; width: 215px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Cash equivalents:&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="padding: 0in; width: 58px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="padding: 0in; width: 78px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="padding: 0in; width: 56px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="padding: 0in; width: 60px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 215px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Money market funds&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family:
 timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 58px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;100&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 78px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;100&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 56px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 60px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="padding: 0in; width: 215px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Total assets at fair value on a recurring basis&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom"
 style="border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="border-style: none none double; padding: 0in; width: 58px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;100&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="border-style: none none double; padding: 0in; width: 78px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;100&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="border-style: none none double; padding: 0in; width: 56px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="border-style: none none double; padding: 0in; width: 60px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 215px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Liabilities:&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom"
 style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 58px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 78px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 56px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 60px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="padding: 0in; width: 215px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Other long-term liabilities:&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="padding: 0in; width: 58px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding:
 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="padding: 0in; width: 78px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="padding: 0in; width: 56px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="padding: 0in; width: 60px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 215px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Deferred payments&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 58px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;3,278&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family:
 timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 78px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 56px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 60px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;3,278&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="padding: 0in; width: 215px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Total liabilities at fair value on a recurring basis&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="border-style: none none double; padding: 0in; width: 58px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;3,278&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="border-style: none none double; padding: 0in; width: 78px; border-bottom-color: windowtext;
 border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="border-style: none none double; padding: 0in; width: 56px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="border-style: none none double; padding: 0in; width: 60px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;3,278&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="padding: 0in; width: 211px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&lt;br /&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="padding: 0in; width: 66px;" colspan="2"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="45%" valign="bottom" style="padding: 0in; width: 271px;" colspan="12"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Fair Value Measurements at Reporting Date
 Using&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="padding: 0in; width: 211px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="padding: 0in; width: 66px;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;December 31,&lt;br /&gt;2014&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="14%" valign="bottom" style="padding: 0in; width: 84px;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Quoted Prices in&lt;br /&gt;Active Markets for&lt;br /&gt;Identical&lt;br /&gt;Assets/Liabilities&lt;br /&gt;(Level 1)&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="padding: 0in; width: 61px;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Significant&lt;br /&gt;Other&lt;br /&gt;Observable&lt;br /&gt;Inputs&lt;br /&gt;(Level 2)&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="padding: 0in; width: 64px;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Significant&lt;br /&gt;Unobservable&lt;br /&gt;Inputs&lt;br /&gt;(Level 3)&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 211px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Assets:&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font
 style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 58px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="background: #cceeff; padding: 0in; width: 77px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 54px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 57px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="padding: 0in; width: 211px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Cash equivalents:&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 8px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="padding: 0in; width: 58px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size:
 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="padding: 0in; width: 77px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="padding: 0in; width: 54px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="padding: 0in; width: 57px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 211px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Money market funds&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 58px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;8,275&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color:
 black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="background: #cceeff; padding: 0in; width: 77px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;8,275&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 54px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 57px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="padding: 0in; width: 211px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Interest rate swaps&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 8px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 58px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;143&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 77px;
 border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 54px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;143&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 57px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 211px;"&gt;
&lt;p class="tbodyind2" style="margin: 0in 0in 0pt 30pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Total assets at fair value on a recurring basis&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 8px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 58px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;8,418&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="background: #cceeff;
 border-style: none none double; padding: 0in; width: 77px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;8,275&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 54px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;143&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 57px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="padding: 0in; width: 211px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Liabilities:&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 8px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 58px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width:
 77px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 54px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 57px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 211px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Other long-term liabilities:&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 58px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="background: #cceeff; padding: 0in; width: 77px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family:
 timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 54px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 57px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="padding: 0in; width: 211px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Deferred payments&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 8px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 58px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2,398&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 77px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom"
 style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 54px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 57px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2,398&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 211px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Total liabilities at fair value on a recurring basis&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 8px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 58px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2,398&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 77px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size:
 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 54px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 57px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2,398&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p&gt;&lt;br class="apple-interchange-newline" /&gt;&lt;br class="apple-interchange-newline" /&gt;&lt;/p&gt;</us-gaap:ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock>
<us-gaap:FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;p class="textind" style="color: black; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 6pt 0in 10pt; text-indent: 20pt; line-height: 12pt; font-size: 10pt; font-family: timesnewromanpsstd-regular;"&gt;&lt;/p&gt;
&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="496" valign="bottom" style="width: 372pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="64" valign="bottom" style="width: 48pt; padding: 0in; background: white;" colspan="3"&gt;
&lt;div style="border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0.0001pt; line-height: normal; border: none; padding: 0in 0in 0pt; text-align: center; font-size: 8pt; font-family: timesnewromanpsstd-bold; color: black; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;2014&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="64" valign="bottom" style="width: 48pt; padding: 0in; background: white;" colspan="3"&gt;
&lt;div style="border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0.0001pt; line-height: normal; border: none; padding: 0in 0in 0pt; text-align: center; font-size: 8pt; font-family: timesnewromanpsstd-bold; color: black; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;2015&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="496" valign="bottom" style="width: 372pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbody" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 10pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;Balance at beginning of year&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodyrightalign" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;2,115&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p align="left" class="tbodyrightalign" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: #cceeff;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;2,398&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="496" valign="bottom" style="width: 372pt; padding: 0in; background: white;"&gt;
&lt;p class="tbody" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 10pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;Amounts earned&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: white;"&gt;
&lt;p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;(545&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p align="left" class="tbodybracket" style="text-align: left; line-height:
 normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: white;"&gt;
&lt;p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;(756&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p align="left" class="tbodybracket" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="496" valign="bottom" style="width: 372pt; padding: 0in 0in 1pt; background-color: #cceeff;"&gt;
&lt;p class="tbody" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 10pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;Adjustments to fair value&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in 0in 1pt; background-color: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding-top: 0in; padding-right: 0in; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; padding-left: 0in; background-color: #cceeff;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; padding-top: 0in; padding-right: 0in; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; padding-left: 0in; background-color: #cceeff;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;828&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in 0in 1pt; background-color: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in 0in 1pt; background-color: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding-top: 0in; padding-right: 0in; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; padding-left: 0in; background-color: #cceeff;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; padding-top: 0in; padding-right: 0in; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; padding-left: 0in; background-color: #cceeff;"&gt;
&lt;p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;1,636&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in 0in 1pt; background-color: #cceeff;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="496" valign="bottom" style="width: 372pt; padding: 0in; background: white;"&gt;
&lt;p class="tbody" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 10pt; text-indent: 0pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;Balance at end of year&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in; background: white;"&gt;
&lt;p align="left" class="tbodyrule2" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule2" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;2,398&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; border-style: none none double; border-bottom-color: windowtext; border-bottom-width:
 2.25pt; padding: 0in; background: white;"&gt;
&lt;p align="left" class="tbodyrule2" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="width: 0.5in; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in; background: white;"&gt;
&lt;p class="tbodyrule2" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"&gt;3,278&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;"&gt;
&lt;p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"&gt;&lt;font style="font-family: timesnewromanpsstd-bold; color: windowtext;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&amp;#160;&lt;/div&gt;</us-gaap:FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock>
<us-gaap:ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="66%" valign="bottom" style="padding: 0in; width: 404px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="padding: 0in; width: 56px;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Number of&lt;br /&gt;shares&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="14%" valign="bottom" style="padding: 0in; width: 90px;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Weighted-average&lt;br /&gt;grant price&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="66%" valign="bottom" style="background: #cceeff; padding: 0in; width: 404px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Balance, December 31, 2012&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8%" valign="bottom" style="background: #cceeff; padding: 0in; width: 49px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;434,439&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; width: 83px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;178.88&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="66%" valign="bottom" style="padding: 0in; width: 404px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Grants&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family:
 timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8%" valign="bottom" style="padding: 0in; width: 49px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;225,741&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="padding: 0in; width: 83px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;57.90&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="66%" valign="bottom" style="background: #cceeff; padding: 0in; width: 404px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Vested shares&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8%" valign="bottom" style="background: #cceeff; padding: 0in; width: 49px;"&gt;
&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(51,916&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; width: 83px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;164.22&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="66%" valign="bottom" style="padding: 0in; width: 404px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Forfeitures&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 49px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(120,491&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color:
 black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 83px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;140.30&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="66%" valign="bottom" style="background: #cceeff; padding: 0in; width: 404px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Balance, December 31, 2013&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 49px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;487,773&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 83px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;131.51&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="66%" valign="bottom" style="padding: 0in; width: 404px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Grants&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8%" valign="bottom" style="padding: 0in; width: 49px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;108,606&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal;
 font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="padding: 0in; width: 83px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;38.95&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="66%" valign="bottom" style="background: #cceeff; padding: 0in; width: 404px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Vested shares&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8%" valign="bottom" style="background: #cceeff; padding: 0in; width: 49px;"&gt;
&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(69,434&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; width: 83px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;158.97&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="66%" valign="bottom" style="padding: 0in; width: 404px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Forfeitures&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 49px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(2,729&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size:
 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 83px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;93.44&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="66%" valign="bottom" style="background: #cceeff; padding: 0in; width: 404px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Balance, December 31, 2014&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 49px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;524,216&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 83px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;115.67&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="66%" valign="bottom" style="padding: 0in; width: 404px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Grants&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8%" valign="bottom" style="padding: 0in; width: 49px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;126,655&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="padding: 0in; width: 83px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;61.00&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="66%" valign="bottom" style="background: #cceeff; padding: 0in; width: 404px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Vested shares&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding:
 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8%" valign="bottom" style="background: #cceeff; padding: 0in; width: 49px;"&gt;
&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(13,725&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; width: 83px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;52.94&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="66%" valign="bottom" style="padding: 0in; width: 404px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Forfeitures&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 49px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(2,819&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 83px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;115.55&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="66%" valign="bottom" style="background: #cceeff; padding: 0in; width: 404px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Balance, December 31, 2015&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td
 width="8%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 49px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;634,327&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 83px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;104.66&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;</us-gaap:ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock>
<us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="padding: 0in; width: 216px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="9%" valign="bottom" style="padding: 0in; width: 57px;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Number of&lt;br /&gt;shares&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="padding: 0in; width: 83px;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Weighted-average exercise price&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="padding: 0in; width: 81px;"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Weighted-&lt;br /&gt;average&lt;br /&gt;remaining&lt;br /&gt;contractual&lt;br /&gt;life (years)&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="padding: 0in; width: 72px;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Aggregate&lt;br /&gt;intrinsic&lt;br /&gt;value&lt;/font&gt;&lt;/font&gt;&lt;font class="superscript" style="font-size: 6pt; vertical-align: super;"&gt;&lt;font lang="en-gb" style="font-size: 6pt;"&gt;(1)&lt;/font&gt;&lt;/font&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;&lt;br /&gt;(in thousands)&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 216px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Balance, December 31, 2012&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 50px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right;
 color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;100,000&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="background: #cceeff; padding: 0in; width: 76px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;107.28&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; width: 81px;"&gt;
&lt;p class="tbodyrightalign" style="font: 10pt/normal timesnewromanpsstd-regular; text-align: center; color: black; padding-bottom: 3px; margin-top: 0in; margin-bottom: 0pt; font-stretch: normal;"&gt;0.1&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="background: #cceeff; padding: 0in; width: 65px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="padding: 0in; width: 216px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Grants&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 50px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;100,000&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p
 class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="padding: 0in; width: 76px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;51.95&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="padding: 0in; width: 81px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="padding: 0in; width: 65px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 216px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Exercises&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 50px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="background: #cceeff; padding: 0in; width: 76px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%"
 valign="bottom" style="background: #cceeff; padding: 0in; width: 81px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="background: #cceeff; padding: 0in; width: 65px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="padding: 0in; width: 216px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Forfeitures&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 50px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(100,000&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 76px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;107.28&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 81px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal;
 font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 65px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 216px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Balance, December 31, 2013&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 50px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;100,000&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 76px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;51.95&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 81px;"&gt;
&lt;p class="tbodyrightalign" style="font: 10pt/normal timesnewromanpsstd-regular; text-align: center; color: black; padding-bottom: 3px; margin-top: 0in; margin-bottom: 0pt; font-stretch: normal;"&gt;7.0&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 65px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="padding: 0in; width: 216px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black;
 line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Grants&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 50px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="padding: 0in; width: 76px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="padding: 0in; width: 81px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="padding: 0in; width: 65px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 216px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Exercises&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 50px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size:
 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="background: #cceeff; padding: 0in; width: 76px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; width: 81px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="background: #cceeff; padding: 0in; width: 65px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="padding: 0in; width: 216px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Forfeitures&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 50px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 76px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p
 class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 81px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 65px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 216px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Balance, December 31, 2014&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 50px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;100,000&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 76px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;51.95&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 81px;"&gt;
&lt;p
 class="tbodyrightalign" style="font: 10pt/normal timesnewromanpsstd-regular; text-align: center; color: black; padding-bottom: 3px; margin-top: 0in; margin-bottom: 0pt; font-stretch: normal;"&gt;6.0&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 65px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2,233&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="padding: 0in; width: 216px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Grants&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 50px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="padding: 0in; width: 76px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="padding: 0in; width: 81px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="padding: 0in; width: 65px;"&gt;
&lt;p class="noparagraphstyle"
 style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 216px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Exercises&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 50px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="background: #cceeff; padding: 0in; width: 76px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; width: 81px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="background: #cceeff; padding: 0in; width: 65px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="padding: 0in; width: 216px;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Forfeitures/Expirations&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 50px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p
 class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 76px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 81px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 65px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 216px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Balance, December 31, 2015&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 50px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;100,000&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom"
 style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 76px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;51.95&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 81px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="font: 10pt/normal timesnewromanpsstd-regular; padding: 0in; text-align: center; color: black; margin-top: 0in; margin-bottom: 0pt; font-stretch: normal;"&gt;5.1&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 65px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;817&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="35%" valign="bottom" style="padding: 0in; width: 216px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Exercisable, December 31, 2015&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 50px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;100,000&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="12%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 76px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family:
 timesnewromanpsstd-regular; font-size: 10pt;"&gt;51.95&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="13%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 81px;"&gt;
&lt;p class="tbodyrightalign" style="font: 10pt/normal timesnewromanpsstd-regular; text-align: center; color: black; padding-bottom: 3px; margin-top: 0in; margin-bottom: 0pt; font-stretch: normal;"&gt;5.1&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="10%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 65px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;817&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p class="tablefootnotef" style="font: 8pt/normal timesnewromanpsstd-regular; margin: 0in 0in 0pt 20pt; padding: 0in; border: currentcolor; border-image: none; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;____________&lt;/p&gt;
&lt;p class="tablefootnotef" style="font: 8pt/normal timesnewromanpsstd-regular; margin: 0in 0in 0pt 20pt; padding: 0in; border: currentcolor; border-image: none; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;(1)&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&amp;#160;The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between the Company&amp;#8217;s closing stock price on the respective trading day and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holder had all options been exercised on the respective trading day. The amount of intrinsic value will change based on the fair market value of the Company&amp;#8217;s common stock.&lt;/p&gt;</us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableTableTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;
&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-size-adjust: none; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&lt;b&gt;Number of&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-size-adjust: none; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&lt;b&gt;shares&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;
&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-size-adjust: none; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&lt;b&gt;Weighted-&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-size-adjust: none; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&lt;b&gt;average&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-size-adjust: none; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&lt;b&gt;exercise&amp;#160;price&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="width: 1151px; text-indent: -29.7pt; padding-left: 29.7pt;"&gt;Exercisable, December 31, 2013&lt;/td&gt;
&lt;td style="width: 16px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 16px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 142px; text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="width: 16px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 15px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 15px; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="width: 141px; text-align: right;"&gt;51.95&lt;/td&gt;
&lt;td style="width: 15px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-indent: -29.7pt; padding-left: 29.7pt;"&gt;Exercisable, December 31, 2014&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;-&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;51.95&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-indent: -29.7pt; padding-left: 29.7pt;"&gt;Exercisable, December 31, 2015&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;100,000&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;51.95&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableTableTextBlock>
<us-gaap:ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; border-collapse: collapse; font-size-adjust: none; font-stretch: normal;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1.5pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;2013&lt;/td&gt;
&lt;td style="padding-bottom: 1.5pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1.5pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;2014&lt;/td&gt;
&lt;td style="padding-bottom: 1.5pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1.5pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;2015&lt;/td&gt;
&lt;td style="padding-bottom: 1.5pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="width: 963px; text-align: left; text-indent: -29.7pt; padding-left: 29.7pt;"&gt;Instruction and educational support&lt;/td&gt;
&lt;td style="width: 16px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 16px; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="width: 142px; text-align: right;"&gt;1,976&lt;/td&gt;
&lt;td style="width: 16px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 16px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 16px; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="width: 141px; text-align: right;"&gt;1,736&lt;/td&gt;
&lt;td style="width: 15px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 15px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 15px; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="width: 141px; text-align: right;"&gt;2,134&lt;/td&gt;
&lt;td style="width: 15px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-indent: -29.7pt; padding-left: 29.7pt;"&gt;Marketing&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8211;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8211;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8211;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; text-indent: -29.7pt; padding-left: 29.7pt;"&gt;Admissions advisory&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8211;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8211;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8211;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left; text-indent: -29.7pt; padding-bottom: 1.5pt; padding-left: 29.7pt;"&gt;General and administration&lt;/td&gt;
&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;7,315&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;7,717&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;8,079&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; padding-left: 19.8pt;"&gt;Stock-based compensation expense included in operating expense&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;9,291&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;9,453&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;10,213&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left; text-indent: -39.6pt; padding-bottom: 1.5pt; padding-left: 39.6pt;"&gt;Tax benefit&lt;/td&gt;
&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;3,698&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;3,734&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;4,032&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font: 13px/normal 'times new roman', times, serif; text-align: left; color: #000000; text-transform: none; text-indent: -19.8pt; letter-spacing: normal; padding-bottom: 4pt; padding-left: 39.6pt; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;Stock-based compensation expense, net of tax&lt;/td&gt;
&lt;td style="font: 13px/normal 'times new roman', times, serif; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; padding-bottom: 4pt; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width:
 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 13px/normal 'times new roman',; font-size-adjust: none; font-stretch: normal;"&gt;$&lt;/td&gt;
&lt;td style="font: 13px/normal 'times new roman', times, serif; text-align: right; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;5,593&lt;/td&gt;
&lt;td style="font: 13px/normal 'times new roman', times, serif; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; padding-bottom: 4pt; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 13px/normal 'times new roman', times, serif; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; padding-bottom: 4pt; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 13px/normal 'times new roman', times, serif; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;$&lt;/td&gt;
&lt;td style="font: 13px/normal 'times new roman', times, serif; text-align: right; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;5,719&lt;/td&gt;
&lt;td style="font: 13px/normal 'times new roman', times, serif; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; padding-bottom: 4pt; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 13px/normal 'times new roman', times, serif; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; padding-bottom: 4pt; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 13px/normal 'times new roman', times, serif; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;$&lt;/td&gt;
&lt;td style="font: 13px/normal 'times new roman', times, serif; text-align: right; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;6,181&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;</us-gaap:ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock>
<us-gaap:ScheduleOfCashProceedsReceivedFromShareBasedPaymentAwardsTableTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="59%" valign="bottom" style="padding: 0in; width: 360px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 50px;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2013&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 48px;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2014&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="7%" valign="bottom" style="padding: 0in; width: 46px;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2015&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="59%" valign="bottom" style="background: #cceeff; padding: 0in; width: 360px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Proceeds from stock options exercised&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="5%" valign="bottom" style="background: #cceeff; padding: 0in; width: 36px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6px;"&gt;
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&lt;/td&gt;
&lt;td width="1%" valign="bottom"
 style="background: #cceeff; padding: 0in; width: 9px;"&gt;
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&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
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&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="5%" valign="bottom" style="background: #cceeff; padding: 0in; width: 35px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
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&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6px;"&gt;
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&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
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&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
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&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
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&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="5%" valign="bottom" style="background: #cceeff; padding: 0in; width: 33px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
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&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="59%" valign="bottom" style="padding: 0in; width: 360px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Tax shortfall related to share-based payment&lt;br /&gt;arrangements&lt;/font&gt;&lt;/p&gt;
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&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
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&lt;td width="2%" valign="bottom" style="padding: 0in; width: 14px;"&gt;
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&lt;td width="1%" valign="bottom" style="padding: 0in; width: 10px;"&gt;
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&lt;td width="1%" valign="bottom" style="padding: 0in; width: 8px;"&gt;
&lt;p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="5%" valign="bottom" style="padding: 0in; width: 36px;"&gt;
&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(3,567&lt;/p&gt;
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&lt;td width="1%" valign="bottom" style="padding: 0in; width: 6px;"&gt;
&lt;p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
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&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
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&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
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&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
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&lt;/td&gt;
&lt;td width="5%" valign="bottom" style="padding: 0in; width: 35px;"&gt;
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&lt;td width="1%" valign="bottom" style="padding: 0in; width: 6px;"&gt;
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&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
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&lt;td width="2%" valign="bottom" style="padding: 0in; width: 13px;"&gt;
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&lt;td width="1%" valign="bottom" style="padding: 0in; width: 9px;"&gt;
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&lt;td width="1%" valign="bottom" style="padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="5%" valign="bottom" style="padding: 0in; width: 33px;"&gt;
&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(24&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="padding: 0in; width: 6px;"&gt;
&lt;p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="59%" valign="bottom" style="background: #cceeff; padding: 0in; width: 360px;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Intrinsic value of stock options exercised&lt;/font&gt;&lt;/p&gt;
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&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;
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&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;
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&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;"&gt;
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&lt;/td&gt;
&lt;td width="5%" valign="bottom" style="background: #cceeff; padding: 0in; width: 36px;"&gt;
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&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6px;"&gt;
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&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
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&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
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&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
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&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
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&lt;/td&gt;
&lt;td width="5%" valign="bottom" style="background: #cceeff; padding: 0in; width: 35px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6px;"&gt;
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&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size:
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&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="5%" valign="bottom" style="background: #cceeff; padding: 0in; width: 33px;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6px;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;</us-gaap:ScheduleOfCashProceedsReceivedFromShareBasedPaymentAwardsTableTextBlock>
<us-gaap:OtherNoncurrentLiabilitiesTableTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;/p&gt;&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;&lt;tr&gt;&lt;td width="72%" valign="bottom" style="background: white; padding: 0in; width: 434px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="8%" valign="bottom" style="background: white; padding: 0in; width: 50px;" colspan="2"&gt;&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;2014&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="8%" valign="bottom" style="background: white; padding: 0in; width: 52px;" colspan="2"&gt;&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;2015&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="72%" valign="bottom" style="background: #cceeff; padding: 0in; width: 434px;"&gt;&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Loss on facilities not in use&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;&lt;/td&gt;&lt;td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 43px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;21,280&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal;
 padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;&lt;/td&gt;&lt;td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 45px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;15,229&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="72%" valign="bottom" style="background: white; padding: 0in; width: 434px;"&gt;&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Deferred revenue, net of current portion&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 7px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td width="7%" valign="bottom" style="background: white; padding: 0in; width: 43px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;9,654&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 7px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td width="7%" valign="bottom" style="background: white; padding: 0in; width: 45px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;14,429&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="72%" valign="bottom" style="background: #cceeff; padding: 0in; width: 434px;"&gt;&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Deferred rent and other facility costs&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 43px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;8,646&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td width="7%"
 valign="bottom" style="background: #cceeff; padding: 0in; width: 45px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;8,993&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="72%" valign="bottom" style="background: white; padding: 0in; width: 434px;"&gt;&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Deferred payments related to acquisition&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 7px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td width="7%" valign="bottom" style="background: white; padding: 0in; width: 43px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;5,198&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 7px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td width="7%" valign="bottom" style="background: white; padding: 0in; width: 45px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;6,078&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="72%" valign="bottom" style="background: #cceeff; padding: 0in; width: 434px;"&gt;&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Lease incentives&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 43px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;1,056&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 45px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black;
 line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;3,125&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="72%" valign="bottom" style="background: white; padding: 0in; width: 434px;"&gt;&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;Deferred gain on sale of campus building&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td width="7%" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 43px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;414&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td width="7%" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 45px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;133&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="72%" valign="bottom" style="background: #cceeff; padding: 0in; width: 434px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;&lt;/td&gt;&lt;td width="7%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 43px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;46,248&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family:
 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;&lt;/td&gt;&lt;td width="7%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 45px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;47,987&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:OtherNoncurrentLiabilitiesTableTextBlock>
<us-gaap:ScheduleOfShareBasedCompensationEmployeeStockPurchasePlanActivityTableTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;div&gt;&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;/p&gt;&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;&lt;tr&gt;&lt;td width="68%" valign="bottom" style="background: white; padding: 0in; width: 412px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="9%" valign="bottom" style="background: white; padding: 0in; width: 55px;"&gt;&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Shares&lt;br /&gt;purchased&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="11%" valign="bottom" style="background: white; padding: 0in; width: 69px;" colspan="2"&gt;&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Average price&lt;br /&gt;per share&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="68%" valign="bottom" style="background: #cceeff; padding: 0in; width: 412px;"&gt;&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2013&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 55px;"&gt;&lt;p align="center" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: center; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;8,911&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;&lt;/td&gt;&lt;td width="10%" valign="bottom" style="background: #cceeff; padding: 0in; width: 62px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size:
 10pt;"&gt;42.27&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="68%" valign="bottom" style="background: white; padding: 0in; width: 412px;"&gt;&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2014&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="9%" valign="bottom" style="background: white; padding: 0in; width: 55px;"&gt;&lt;p align="center" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: center; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;5,872&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 7px;"&gt;&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;&lt;/td&gt;&lt;td width="10%" valign="bottom" style="background: white; padding: 0in; width: 62px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;44.55&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="68%" valign="bottom" style="background: #cceeff; padding: 0in; width: 412px;"&gt;&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2015&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 55px;"&gt;&lt;p align="center" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: center; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;5,136&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;&lt;/td&gt;&lt;td width="10%" valign="bottom" style="background: #cceeff; padding: 0in; width: 62px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;49.10&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</us-gaap:ScheduleOfShareBasedCompensationEmployeeStockPurchasePlanActivityTableTextBlock>
<us-gaap:ScheduleOfTreasuryStockByClassTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: bottom; font-stretch: normal;"&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-stretch: normal;" colspan="2"&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&lt;b&gt;Number of&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&lt;b&gt;shares&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&lt;b&gt;repurchased&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-stretch: normal;" colspan="2"&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&lt;b&gt;Average price&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&lt;b&gt;paid&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&lt;b&gt;per share&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-stretch: normal;" colspan="2"&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&lt;b&gt;Amount available&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&lt;b&gt;for future&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&lt;b&gt;repurchases&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&lt;b&gt;(in millions)&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: bottom; font-stretch: normal; background-color: #cceeff;"&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; width: 854.4px; text-indent: -29.7pt; padding-left: 29.7pt; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;2013&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; width: 79px; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; width: 126px; text-align: right; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;495,085&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; width: 47px; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; width: 125px; text-align: right; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;50.49&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; width: 15px; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; width: 15px; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; width: 78px; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; width: 125px; text-align: right; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size:
 10pt;"&gt;70.0&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; width: 15px; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: bottom; font-stretch: normal; background-color: white;"&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; text-indent: -29.7pt; padding-left: 29.7pt; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;2014&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&amp;#8211;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&amp;#8211;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;70.0&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: bottom; font-stretch: normal; background-color: #cceeff;"&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; text-indent: -29.7pt; padding-left: 29.7pt; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;2015&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&amp;#8211;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&amp;#8211;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;70.0&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&lt;font style="font-family: 'times new roman', times, serif; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:ScheduleOfTreasuryStockByClassTextBlock>
<us-gaap:ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;div&gt;&amp;#160;&lt;/div&gt;&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;&lt;tr&gt;&lt;td width="82%" valign="bottom" style="background: white; padding: 0in; width: 496px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 15px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="11%" valign="bottom" style="background: white; padding: 0in; width: 69px;" colspan="2"&gt;&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;Minimum&lt;br /&gt;rental&lt;br /&gt;commitments&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="82%" valign="bottom" style="background: #cceeff; padding: 0in; width: 496px;"&gt;&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2016&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 15px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;&lt;/td&gt;&lt;td width="10%" valign="bottom" style="background: #cceeff; padding: 0in; width: 62px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;37,240&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="82%" valign="bottom" style="background: white; padding: 0in; width: 496px;"&gt;&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2017&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 15px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 7px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td width="10%" valign="bottom" style="background: white; padding: 0in; width: 62px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;33,264&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="82%" valign="bottom" style="background: #cceeff; padding: 0in; width: 496px;"&gt;&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2018&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 15px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal;
 font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td width="10%" valign="bottom" style="background: #cceeff; padding: 0in; width: 62px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;28,819&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="82%" valign="bottom" style="background: white; padding: 0in; width: 496px;"&gt;&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2019&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 15px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 7px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td width="10%" valign="bottom" style="background: white; padding: 0in; width: 62px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;23,444&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="82%" valign="bottom" style="background: #cceeff; padding: 0in; width: 496px;"&gt;&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2020&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 15px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td width="10%" valign="bottom" style="background: #cceeff; padding: 0in; width: 62px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;18,157&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="82%" valign="bottom" style="background: white; padding: 0in; width: 496px;"&gt;&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Thereafter&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 15px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td width="10%" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 62px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;26,140&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="82%" valign="bottom" style="background: #cceeff; padding: 0in; width: 496px;"&gt;&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Total&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro',
 serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 15px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;&lt;/td&gt;&lt;td width="10%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 62px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;167,064&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock>
<us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;div&gt;&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;/p&gt;&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;&lt;tr&gt;&lt;td width="58%" valign="bottom" style="background: white; padding: 0in; width: 349.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14.54px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="8%" valign="bottom" style="background: white; padding: 0in; width: 53.63px;" colspan="3"&gt;&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;2013&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 13.63px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="8%" valign="bottom" style="background: white; padding: 0in; width: 50px;" colspan="2"&gt;&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;2014&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 13.63px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="8%" valign="bottom" style="background: white; padding: 0in; width: 49.09px;" colspan="3"&gt;&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;font lang="en-gb"&gt;2015&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="58%" valign="bottom" style="background: #cceeff; padding: 0in; width: 349.09px;"&gt;&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Current:&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14.54px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7.27px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size:
 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; width: 40px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6.36px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13.63px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6.36px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 43.63px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13.63px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6.36px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; width: 36.36px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6.36px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="58%" valign="bottom" style="background: white; padding: 0in; width: 349.09px;"&gt;&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Federal&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14.54px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 7.27px;"&gt;&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;&lt;/td&gt;&lt;td width="6%" valign="bottom" style="background: white; padding: 0in; width: 40px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;26,390&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 6.36px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 13.63px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black;
 line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 6.36px;"&gt;&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;&lt;/td&gt;&lt;td width="7%" valign="bottom" style="background: white; padding: 0in; width: 43.63px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;25,285&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 13.63px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 6.36px;"&gt;&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;&lt;/td&gt;&lt;td width="6%" valign="bottom" style="background: white; padding: 0in; width: 36.36px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;25,515&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 6.36px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="58%" valign="bottom" style="background: #cceeff; padding: 0in; width: 349.09px;"&gt;&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;State&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14.54px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 7.27px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td width="6%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 40px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;4,582&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6.36px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13.63px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6.36px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td width="7%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 43.63px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tbodyrule1" style="margin: 0in
 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;4,490&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13.63px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6.36px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td width="6%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 36.36px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;4,538&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6.36px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="58%" valign="bottom" style="background: white; padding: 0in; width: 349.09px;"&gt;&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Total current&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14.54px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 7.27px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td width="6%" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 40px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;30,972&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 6.36px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 13.63px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6.36px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td width="7%" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 43.63px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;29,775&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 13.63px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt;
 color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6.36px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td width="6%" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 36.36px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;30,053&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 6.36px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="58%" valign="bottom" style="background: #cceeff; padding: 0in; width: 349.09px;"&gt;&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Deferred:&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14.54px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7.27px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 40px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6.36px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13.63px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 6.36px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 43.63px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13.63px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 6.36px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family:
 timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 36.36px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6.36px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="58%" valign="bottom" style="background: white; padding: 0in; width: 349.09px;"&gt;&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Federal&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14.54px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 7.27px;"&gt;&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td width="6%" valign="bottom" style="background: white; padding: 0in; width: 40px;"&gt;&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(18,387&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 6.36px;"&gt;&lt;p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 13.63px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 6.36px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td width="7%" valign="bottom" style="background: white; padding: 0in; width: 43.63px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;141&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 13.63px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 6.36px;"&gt;&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td width="6%" valign="bottom" style="background: white; padding: 0in; width: 36.36px;"&gt;&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(3,634&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 6.36px;"&gt;&lt;p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="58%" valign="bottom" style="background: #cceeff; padding: 0in; width: 349.09px;"&gt;&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;State&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14.54px;"&gt;&lt;p
 class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 7.27px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td width="6%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 40px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(1,726&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6.36px;"&gt;&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13.63px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6.36px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td width="7%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 43.63px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;344&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13.63px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6.36px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td width="6%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 36.36px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(311&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6.36px;"&gt;&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="58%" valign="bottom" style="background: white; padding: 0in; width: 349.09px;"&gt;&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Total deferred&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14.54px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background:
 white; border-style: none none solid; padding: 0in; width: 7.27px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td width="6%" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 40px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(20,113&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 6.36px;"&gt;&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 13.63px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6.36px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td width="7%" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 43.63px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;485&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 13.63px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6.36px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td width="6%" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 36.36px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(3,945&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 6.36px;"&gt;&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="58%" valign="bottom" style="background: #cceeff; padding: 0in; width: 349.09px;"&gt;&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Total provision for income taxes&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14.54px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7.27px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;&lt;/td&gt;&lt;td width="6%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 40px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt;
 padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;10,859&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6.36px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13.63px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 6.36px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;&lt;/td&gt;&lt;td width="7%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 43.63px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;30,260&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13.63px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 6.36px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;&lt;/td&gt;&lt;td width="6%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 36.36px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;26,108&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock>
<us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="464" valign="bottom" style="background: white; padding: 0in; width: 348pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2014&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="3"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2015&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="464" valign="bottom" style="background: #cceeff; padding: 0in; width: 348pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Tuition receivable&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.5in;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;3,439&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size:
 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.5in;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;3,908&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="464" valign="bottom" style="background: white; padding: 0in; width: 348pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Other facility-related costs&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2,824&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2,538&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="464" valign="bottom" style="background: #cceeff; padding: 0in; width: 348pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Employee-related liabilities&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(96&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border:
 currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="464" valign="bottom" style="background: white; padding: 0in; width: 348pt;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Current net deferred tax asset&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;6,167&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;6,446&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="464" valign="bottom" style="background: #cceeff; padding: 0in; width: 348pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height:
 normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Stock-based compensation&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 0.5in;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;12,994&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 0.5in;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;16,742&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="464" valign="bottom" style="background: white; padding: 0in; width: 348pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Property and equipment&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;"&gt;
&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(11,622&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in
 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;"&gt;
&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(9,417&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="464" valign="bottom" style="background: #cceeff; padding: 0in; width: 348pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Other facility-related costs&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.5in;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;8,903&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.5in;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;6,534&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="464" valign="bottom" style="background: white; padding: 0in; width: 348pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Deferred revenue&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size:
 10pt;"&gt;3,758&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;4,267&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="464" valign="bottom" style="background: #cceeff; padding: 0in; width: 348pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Deferred leasing costs&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.5in;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2,797&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.5in;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;2,825&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="464" valign="bottom" style="background: white; padding: 0in; width: 348pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Interest rate swap&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width:
 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;"&gt;
&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(56&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#8212;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="464" valign="bottom" style="background: #cceeff; padding: 0in; width: 348pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Other&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(533&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none;
 text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;(948&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;)&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="464" valign="bottom" style="background: white; padding: 0in; width: 348pt;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Long-term net deferred tax asset&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;16,241&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;20,003&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="464" valign="bottom" style="background: #cceeff; padding: 0in; width: 348pt;"&gt;
&lt;p class="tbodyind2" style="margin: 0in 0in 0pt 30pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Net deferred tax asset&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor;
 border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;22,408&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="48" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;
&lt;p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;26,449&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;</us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock>
<us-gaap:SummaryOfIncomeTaxContingenciesTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;table style="width: 600px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="padding-bottom: 1pt; font-size: 12pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: bold 8pt/normal timesnewromanpsstd-bold; color: black; padding-bottom: 1pt; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: bold 8pt/normal timesnewromanpsstd-bold; text-align: center; color: black; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-stretch: normal;" colspan="6"&gt;Year Ended December 31,&lt;/td&gt;
&lt;td style="font: bold 8pt/normal timesnewromanpsstd-bold; color: black; padding-bottom: 1pt; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="padding-bottom: 1pt; font-size: 12pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: bold 8pt/normal timesnewromanpsstd-bold; color: black; padding-bottom: 1pt; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: bold 8pt/normal timesnewromanpsstd-bold; text-align: center; color: black; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-stretch: normal;" colspan="2"&gt;2014&lt;/td&gt;
&lt;td style="font: bold 8pt/normal timesnewromanpsstd-bold; color: black; padding-bottom: 1pt; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: bold 8pt/normal timesnewromanpsstd-bold; color: black; padding-bottom: 1pt; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: bold 8pt/normal timesnewromanpsstd-bold; text-align: center; color: black; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-stretch: normal;" colspan="2"&gt;2015&lt;/td&gt;
&lt;td style="font: bold 8pt/normal timesnewromanpsstd-bold; color: black; padding-bottom: 1pt; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; width: 442px; text-align: left; color: black; padding-left: 0in; font-stretch: normal;"&gt;Beginning unrecognized tax benefits&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; width: 6px; color: black; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; width: 7px; text-align: left; color: black; font-stretch: normal;"&gt;$&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; width: 60px; text-align: right; color: black; font-stretch: normal;"&gt;1,745&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; width: 6px; text-align: left; color: black; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; width: 6px; color: black; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; width: 7px; text-align: left; color: black; font-stretch: normal;"&gt;$&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; width: 60px; text-align: right; color: black; font-stretch: normal;"&gt;2,936&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; width: 6px; text-align: left; color: black; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; padding-left: 0in; font-stretch: normal;"&gt;Additions based on tax positions taken in the current year&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; color: black; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: right; color: black; font-stretch: normal;"&gt;2,085&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; color: black; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: right; color: black; font-stretch: normal;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; padding-left: 0in; font-stretch: normal;"&gt;Reductions for tax positions taken in prior years&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; color: black; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: right; color: black; font-stretch: normal;"&gt;(565&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; font-stretch: normal;"&gt;)&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; color: black; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: right; color: black; font-stretch: normal;"&gt;(2,431&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; font-stretch: normal;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; padding-bottom: 1pt; padding-left: 0in; font-stretch: normal;"&gt;Settlements with taxing authorities&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; color: black; padding-bottom: 1pt; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: right; color: black; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-stretch: normal;"&gt;(329&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; padding-bottom: 1pt; font-stretch: normal;"&gt;)&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; color: black; padding-bottom: 1pt; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: right; color: black;
 border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-stretch: normal;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; padding-bottom: 1pt; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; padding-bottom: 2.5pt; padding-left: 0in; font-stretch: normal;"&gt;Ending unrecognized tax benefits&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; color: black; padding-bottom: 2.5pt; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-stretch: normal;"&gt;$&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: right; color: black; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-stretch: normal;"&gt;2,936&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; padding-bottom: 2.5pt; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; color: black; padding-bottom: 2.5pt; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-stretch: normal;"&gt;$&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: right; color: black; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-stretch: normal;"&gt;505&lt;/td&gt;
&lt;td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; padding-bottom: 2.5pt; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;</us-gaap:SummaryOfIncomeTaxContingenciesTextBlock>
<us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;div&gt;&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;/p&gt;&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;&lt;tr&gt;&lt;td width="62%" valign="bottom" style="background: white; padding: 0in; width: 377.27px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14.54px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="6%" valign="bottom" style="background: white; padding: 0in; width: 42.72px;" colspan="2"&gt;&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2013&lt;/p&gt;&lt;/div&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 13.63px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="6%" valign="bottom" style="background: white; padding: 0in; width: 40.9px;" colspan="2"&gt;&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2014&lt;/p&gt;&lt;/div&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 13.63px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="6%" valign="bottom" style="background: white; padding: 0in; width: 40.9px;" colspan="2"&gt;&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;2015&lt;/p&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="62%" valign="bottom" style="background: #cceeff; padding: 0in; width: 377.27px;"&gt;&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Statutory federal rate&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14.54px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="5%" valign="bottom" style="background: #cceeff; padding: 0in; width: 30.9px;"&gt;&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;35.0&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 11.81px;"&gt;&lt;p align="left" class="tbodybracket" style="margin: 0in 0in 0pt;
 text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;%&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13.63px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="5%" valign="bottom" style="background: #cceeff; padding: 0in; width: 30px;"&gt;&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;35.0&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10.9px;"&gt;&lt;p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;%&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13.63px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="5%" valign="bottom" style="background: #cceeff; padding: 0in; width: 30px;"&gt;&lt;p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;35.0&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10.9px;"&gt;&lt;p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;%&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="62%" valign="bottom" style="background: white; padding: 0in; width: 377.27px;"&gt;&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&lt;font lang="en-gb"&gt;State income taxes, net of federal benefits&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14.54px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="5%" valign="bottom" style="background: white; padding: 0in; width: 30.9px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;4.6&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 11.81px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 13.63px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="5%" valign="bottom" style="background: white; padding: 0in; width: 30px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;4.2&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10.9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif;
 font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 13.63px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="5%" valign="bottom" style="background: white; padding: 0in; width: 30px;"&gt;&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;4.2&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10.9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="62%" valign="bottom" style="background: #cceeff; padding: 0in; width: 377.27px;"&gt;&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Other&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14.54px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="5%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 30.9px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;0.2&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 11.81px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13.63px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="5%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 30px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;0.3&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10.9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13.63px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="5%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 30px; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;&lt;p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;0.3&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10.9px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td width="62%" valign="bottom" style="background: white; padding: 0in; width: 377.27px;"&gt;&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent:
 -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Effective tax rate&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14.54px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="5%" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 30.9px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;&lt;p class="tbodyrule2brack" style="margin: 0in; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;39.8&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 11.81px;"&gt;&lt;p align="left" class="tbodyrule2brack" style="margin: 0in; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;%&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 13.63px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="5%" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 30px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;&lt;p class="tbodyrule2brack" style="margin: 0in; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;39.5&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10.9px;"&gt;&lt;p align="left" class="tbodyrule2brack" style="margin: 0in; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;%&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="2%" valign="bottom" style="background: white; padding: 0in; width: 13.63px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"&gt;&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td width="5%" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 30px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"&gt;&lt;p class="tbodyrule2brack" style="margin: 0in; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;39.5&lt;/p&gt;&lt;/td&gt;&lt;td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10.9px;"&gt;&lt;p align="left" class="tbodyrule2brack" style="margin: 0in; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;%&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock>
<us-gaap:ScheduleOfQuarterlyFinancialInformationTableTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="304" valign="bottom" style="background: white; padding: 0in; width: 228pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="368" valign="bottom" style="background: white; padding: 0in; width: 276pt;" colspan="17"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;Quarter&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="304" valign="bottom" style="background: white; padding: 0in; width: 228pt;"&gt;
&lt;p class="tchleft" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;u&gt;&lt;font lang="en-gb"&gt;2014&lt;/font&gt;&lt;/u&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;First&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;Second&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;Third&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black;
 line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;Fourth&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="304" valign="bottom" style="background: #cceeff; padding: 0in; width: 228pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Revenues&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;116,468&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;112,747&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;100,756&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding:
 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;116,070&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="304" valign="bottom" style="background: white; padding: 0in; width: 228pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Income from operations&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;25,909&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;23,998&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;9,216&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family:
 timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;22,624&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="304" valign="bottom" style="background: #cceeff; padding: 0in; width: 228pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Net income&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;14,783&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;13,677&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;4,953&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;12,943&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="304" valign="bottom" style="background: white; padding: 0in; width: 228pt;"&gt;
&lt;p
 class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Net income per share:&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="304" valign="bottom" style="background: #cceeff; padding: 0in; width: 228pt;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Basic&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background:
 #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;1.40&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;1.29&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;0.47&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;1.22&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="304" valign="bottom" style="background: white; padding: 0in; width: 228pt;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Diluted&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal;
 font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;1.40&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;1.29&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;0.46&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;1.21&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 10pt 0in; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font style="font-size: 4pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td width="304" valign="bottom" style="background: white; padding: 0in; width: 228pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family:
 timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="368" valign="bottom" style="background: white; padding: 0in; width: 276pt;" colspan="17"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;Quarter&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="304" valign="bottom" style="background: white; padding: 0in; width: 228pt;"&gt;
&lt;p class="tchleft" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;&lt;font class="bold" style="font-weight: bold;"&gt;&lt;u&gt;&lt;font lang="en-gb"&gt;2015&lt;/font&gt;&lt;/u&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;First&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;Second&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="2"&gt;
&lt;div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;Third&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="2"&gt;
&lt;div style="border-style: none
 none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"&gt;
&lt;p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"&gt;Fourth&lt;/p&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="304" valign="bottom" style="background: #cceeff; padding: 0in; width: 228pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Revenues&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;111,885&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;109,750&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;99,142&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;113,660&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="304" valign="bottom" style="background: white; padding: 0in; width:
 228pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Income from operations&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;19,859&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;20,929&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;7,254&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;21,656&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="304" valign="bottom" style="background: #cceeff; padding: 0in; width: 228pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Net income&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family:
 timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;11,385&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;11,874&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;3,723&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;13,041&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="304" valign="bottom" style="background: white; padding: 0in; width: 228pt;"&gt;
&lt;p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Net income per share:&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p
 class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="304" valign="bottom" style="background: #cceeff; padding: 0in; width: 228pt;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Basic&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom"
 style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;1.08&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;1.12&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;0.35&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;1.23&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width="304" valign="bottom" style="background: white; padding: 0in; width: 228pt;"&gt;
&lt;p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;Diluted&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height:
 normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;1.06&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;1.11&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;0.35&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;"&gt;
&lt;p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"&gt;&lt;font style="color: windowtext; font-family: timesnewromanpsstd-bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;"&gt;
&lt;p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;$&lt;/p&gt;
&lt;/td&gt;
&lt;td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;"&gt;
&lt;p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"&gt;1.21&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;</us-gaap:ScheduleOfQuarterlyFinancialInformationTableTextBlock>
<us-gaap:NumberOfReportableSegments contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="Segments" decimals="INF">1</us-gaap:NumberOfReportableSegments>
<stra:GraduationFundLiability contextRef="Context_As_Of_31_Dec_2013T00_00_00_TO_31_Dec_2013T00_00_00" unitRef="USD" decimals="-3">1898000</stra:GraduationFundLiability>
<stra:GraduationFundLiability contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">9706000</stra:GraduationFundLiability>
<stra:GraduationFundLiability contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">20937000</stra:GraduationFundLiability>
<stra:RevenueDeferred contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">8507000</stra:RevenueDeferred>
<stra:RevenueDeferred contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">17882000</stra:RevenueDeferred>
<stra:BenefitRedeemed contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">-699000</stra:BenefitRedeemed>
<stra:BenefitRedeemed contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">-6651000</stra:BenefitRedeemed>
<us-gaap:AccountsReceivableGrossCurrent contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">25777000</us-gaap:AccountsReceivableGrossCurrent>
<us-gaap:AccountsReceivableGrossCurrent contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">28543000</us-gaap:AccountsReceivableGrossCurrent>
<us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent contextRef="Context_As_Of_31_Dec_2012T00_00_00_TO_31_Dec_2012T00_00_00" unitRef="USD" decimals="-3">6596000</us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent>
<us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent contextRef="Context_As_Of_31_Dec_2013T00_00_00_TO_31_Dec_2013T00_00_00" unitRef="USD" decimals="-3">10303000</us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent>
<us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">8835000</us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent>
<us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">10024000</us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent>
<us-gaap:ProvisionForDoubtfulAccounts contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00" unitRef="USD" decimals="-3">22225000</us-gaap:ProvisionForDoubtfulAccounts>
<us-gaap:ProvisionForDoubtfulAccounts contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">16947000</us-gaap:ProvisionForDoubtfulAccounts>
<us-gaap:ProvisionForDoubtfulAccounts contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">13067000</us-gaap:ProvisionForDoubtfulAccounts>
<us-gaap:AllowanceForDoubtfulAccountsReceivableWriteOffs contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00" unitRef="USD" decimals="-3">18518000</us-gaap:AllowanceForDoubtfulAccountsReceivableWriteOffs>
<us-gaap:AllowanceForDoubtfulAccountsReceivableWriteOffs contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">18415000</us-gaap:AllowanceForDoubtfulAccountsReceivableWriteOffs>
<us-gaap:AllowanceForDoubtfulAccountsReceivableWriteOffs contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">11878000</us-gaap:AllowanceForDoubtfulAccountsReceivableWriteOffs>
<us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00" unitRef="shares" xsi:nil="true"/>
<us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="shares" decimals="-3">6000</us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements>
<us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="shares" decimals="-3">6000</us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements>
<us-gaap:IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00" unitRef="shares" decimals="-3">40000</us-gaap:IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends>
<us-gaap:IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="shares" decimals="-3">83000</us-gaap:IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends>
<us-gaap:IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="shares" decimals="-3">146000</us-gaap:IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends>
<stra:PercentageOfTuitionRevenueInRevenue contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="pure" decimals="2">0.96</stra:PercentageOfTuitionRevenueInRevenue>
<stra:UnusedBooksAndAcademicMaterialRefundablePeriod contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">P21D</stra:UnusedBooksAndAcademicMaterialRefundablePeriod>
<us-gaap:RestrictedCashAndCashEquivalentsAtCarryingValue contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-5">200000</us-gaap:RestrictedCashAndCashEquivalentsAtCarryingValue>
<us-gaap:AccountsReceivableNetNoncurrent contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-5">1600000</us-gaap:AccountsReceivableNetNoncurrent>
<us-gaap:AccountsReceivableNetNoncurrent contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-5">2000000</us-gaap:AccountsReceivableNetNoncurrent>
<stra:ExpectedCollectionPeriodOfTuitionReceivable contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">After 12 months</stra:ExpectedCollectionPeriodOfTuitionReceivable>
<us-gaap:RestrictedCashAndCashEquivalentsNoncurrent contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-5">500000</us-gaap:RestrictedCashAndCashEquivalentsNoncurrent>
<us-gaap:PreferredStockSharesAuthorized contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="shares" decimals="INF">8000000</us-gaap:PreferredStockSharesAuthorized>
<us-gaap:PreferredStockSharesIssued contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="shares" xsi:nil="true"/>
<us-gaap:PreferredStockSharesOutstanding contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="shares" xsi:nil="true"/>
<us-gaap:IncomeTaxExaminationDescription contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">Upon determination, uncertain tax positions are measured to determine the amount of benefit that is greater than 50% likely to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. A tax position is derecognized if it no longer meets the more likely than not threshold of being sustained.</us-gaap:IncomeTaxExaminationDescription>
<stra:EstimatedGraduationFundToBeRedeemedNextTwelveMonths contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-5">10000000</stra:EstimatedGraduationFundToBeRedeemedNextTwelveMonths>
<us-gaap:GoodwillAndIntangibleAssetImpairment contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" xsi:nil="true"/>
<us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_RangeAxis_MinimumMember">P3Y</us-gaap:PropertyPlantAndEquipmentUsefulLife>
<us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_RangeAxis_MaximumMember">P40Y</us-gaap:PropertyPlantAndEquipmentUsefulLife>
<us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_RangeAxis_MaximumMember_PropertyPlantAndEquipmentByTypeAxis_BuildingAndBuildingImprovementsMember">P40Y</us-gaap:PropertyPlantAndEquipmentUsefulLife>
<us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_RangeAxis_MinimumMember_PropertyPlantAndEquipmentByTypeAxis_BuildingAndBuildingImprovementsMember">P5Y</us-gaap:PropertyPlantAndEquipmentUsefulLife>
<us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_RangeAxis_MaximumMember_PropertyPlantAndEquipmentByTypeAxis_FurnitureEquipmentAndComputerHardwareAndSoftwareMember">P10Y</us-gaap:PropertyPlantAndEquipmentUsefulLife>
<us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_RangeAxis_MinimumMember_PropertyPlantAndEquipmentByTypeAxis_FurnitureEquipmentAndComputerHardwareAndSoftwareMember">P5Y</us-gaap:PropertyPlantAndEquipmentUsefulLife>
<us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_RangeAxis_MaximumMember_PropertyPlantAndEquipmentByTypeAxis_LeaseholdImprovementsMember">P10Y</us-gaap:PropertyPlantAndEquipmentUsefulLife>
<us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_RangeAxis_MinimumMember_PropertyPlantAndEquipmentByTypeAxis_LeaseholdImprovementsMember">P3Y</us-gaap:PropertyPlantAndEquipmentUsefulLife>
<us-gaap:ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" xsi:nil="true"/>
<us-gaap:RestructuringReserve contextRef="Context_As_Of_31_Dec_2012T00_00_00_TO_31_Dec_2012T00_00_00" unitRef="USD" xsi:nil="true"/>
<us-gaap:RestructuringReserve contextRef="Context_As_Of_31_Dec_2012T00_00_00_TO_31_Dec_2012T00_00_00_RestructuringCostAndReserveAxis_LeaseAndRelatedCostsMember" unitRef="USD" xsi:nil="true"/>
<us-gaap:RestructuringReserve contextRef="Context_As_Of_31_Dec_2012T00_00_00_TO_31_Dec_2012T00_00_00_RestructuringCostAndReserveAxis_SeveranceAndOtheRemployeeSeparationCostsMember" unitRef="USD" xsi:nil="true"/>
<us-gaap:RestructuringReserve contextRef="Context_As_Of_31_Dec_2013T00_00_00_TO_31_Dec_2013T00_00_00" unitRef="USD" decimals="-3" id="Footnote-1_1">44766000</us-gaap:RestructuringReserve>
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<us-gaap:LiabilitiesFairValueDisclosureRecurring contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00_FinancialInstrumentAxis_DeferredPaymentsMember" unitRef="USD" decimals="-3">3278000</us-gaap:LiabilitiesFairValueDisclosureRecurring>
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<us-gaap:LineOfCreditFacilityCovenantTerms contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">&lt;div&gt;&lt;p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 13pt;"&gt;&amp;#8226;&lt;/font&gt;&lt;/font&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/font&gt;&amp;#160;A leverage ratio of not greater than 2 to 1. Leverage ratio is defined as the ratio of total debt to trailing four-quarter EBITDA (earnings before interest, taxes, depreciation, amortization and non-cash charges such as stock-based compensation).&lt;/p&gt;&lt;p class="blm" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt 40pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 13pt;"&gt;&amp;#8226;&lt;/font&gt;&lt;/font&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/font&gt;&amp;#160;A coverage ratio of not less than 1.75 to 1. Coverage ratio is defined as the ratio of trailing four-quarter EBITDA and rent expense to trailing four-quarter interest and rent expense.&lt;/p&gt;&lt;p class="blm" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt 40pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 13pt;"&gt;&amp;#8226;&lt;/font&gt;&lt;/font&gt;&lt;font class="bullet" style="top: 2pt; position: relative;"&gt;&lt;font style="font-size: 8.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/font&gt;&amp;#160;A Department of Education Financial Responsibility Composite Score of not less than 1.5.&lt;/p&gt;&lt;/div&gt;</us-gaap:LineOfCreditFacilityCovenantTerms>
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<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_RestrictedStockMember" unitRef="USD_per_Share" decimals="2">38.95</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
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<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_AwardTypeAxis_RestrictedStockMember" unitRef="USD_per_Share" decimals="2">140.30</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_RestrictedStockMember" unitRef="USD_per_Share" decimals="2">93.44</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_RestrictedStockMember" unitRef="USD_per_Share" decimals="2">115.55</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber contextRef="Context_As_Of_31_Dec_2012T00_00_00_TO_31_Dec_2012T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="shares" decimals="0">100000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber contextRef="Context_As_Of_31_Dec_2013T00_00_00_TO_31_Dec_2013T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="shares" decimals="INF">100000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="shares" decimals="INF">100000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="shares" decimals="INF">100000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="shares" decimals="0">100000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="shares" xsi:nil="true"/>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="shares" xsi:nil="true"/>
<us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="shares" xsi:nil="true"/>
<us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="shares" xsi:nil="true"/>
<us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="shares" xsi:nil="true"/>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="shares" decimals="0">100000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="shares" xsi:nil="true"/>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="shares" xsi:nil="true"/>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber contextRef="Context_As_Of_31_Dec_2013T00_00_00_TO_31_Dec_2013T00_00_00_AwardTypeAxis_EmployeeStockMember" unitRef="shares" xsi:nil="true"/>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_EmployeeStockMember" unitRef="shares" xsi:nil="true"/>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="shares" decimals="INF">100000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockMember" unitRef="shares" decimals="0">100000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice contextRef="Context_As_Of_31_Dec_2012T00_00_00_TO_31_Dec_2012T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD_per_Share" decimals="2">107.28</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice contextRef="Context_As_Of_31_Dec_2013T00_00_00_TO_31_Dec_2013T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD_per_Share" decimals="2">51.95</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD_per_Share" decimals="2">51.95</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD_per_Share" decimals="2">51.95</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD_per_Share" decimals="2">51.95</us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD_per_Share" xsi:nil="true"/>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD_per_Share" xsi:nil="true"/>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD_per_Share" xsi:nil="true"/>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD_per_Share" xsi:nil="true"/>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD_per_Share" xsi:nil="true"/>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD_per_Share" decimals="2">107.28</us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD_per_Share" xsi:nil="true"/>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD_per_Share" xsi:nil="true"/>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice contextRef="Context_As_Of_31_Dec_2013T00_00_00_TO_31_Dec_2013T00_00_00_AwardTypeAxis_EmployeeStockMember" unitRef="USD_per_Share" decimals="2">51.95</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_EmployeeStockMember" unitRef="USD_per_Share" decimals="2">51.95</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD_per_Share" decimals="2">51.95</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockMember" unitRef="USD_per_Share" decimals="2">51.95</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2 contextRef="Context_FYE_01_Jan_2012T00_00_00_TO_31_Dec_2012T00_00_00_AwardTypeAxis_EmployeeStockOptionMember">P1M6D</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2 contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_AwardTypeAxis_EmployeeStockOptionMember">P7Y</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2 contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_EmployeeStockOptionMember">P6Y</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2 contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember">P5Y1M6D</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1 contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember">P5Y1M6D</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue contextRef="Context_As_Of_31_Dec_2012T00_00_00_TO_31_Dec_2012T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD" xsi:nil="true" id="Footnote-3_1"/>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue contextRef="Context_As_Of_31_Dec_2013T00_00_00_TO_31_Dec_2013T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD" xsi:nil="true" id="Footnote-3_2"/>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD" decimals="-3" id="Footnote-3_3">2233000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD" decimals="-3" id="Footnote-3_4">817000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1 contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD" decimals="-3" id="Footnote-3_5">817000</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1>
<us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00" unitRef="USD" decimals="-3">3698000</us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense>
<us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">3734000</us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense>
<us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">4032000</us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense>
<us-gaap:AllocatedShareBasedCompensationExpenseNetOfTax contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00" unitRef="USD" decimals="-3">5593000</us-gaap:AllocatedShareBasedCompensationExpenseNetOfTax>
<us-gaap:AllocatedShareBasedCompensationExpenseNetOfTax contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">5719000</us-gaap:AllocatedShareBasedCompensationExpenseNetOfTax>
<us-gaap:AllocatedShareBasedCompensationExpenseNetOfTax contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">6181000</us-gaap:AllocatedShareBasedCompensationExpenseNetOfTax>
<us-gaap:ProceedsFromStockOptionsExercised contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00" unitRef="USD" xsi:nil="true"/>
<us-gaap:ProceedsFromStockOptionsExercised contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" xsi:nil="true"/>
<us-gaap:ProceedsFromStockOptionsExercised contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" xsi:nil="true"/>
<stra:ExcessTaxBenefitsShortfallRelatedToShareBasedPaymentArrangements contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00" unitRef="USD" decimals="-3">-3567000</stra:ExcessTaxBenefitsShortfallRelatedToShareBasedPaymentArrangements>
<stra:ExcessTaxBenefitsShortfallRelatedToShareBasedPaymentArrangements contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">-2039000</stra:ExcessTaxBenefitsShortfallRelatedToShareBasedPaymentArrangements>
<stra:ExcessTaxBenefitsShortfallRelatedToShareBasedPaymentArrangements contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">-24000</stra:ExcessTaxBenefitsShortfallRelatedToShareBasedPaymentArrangements>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00" unitRef="USD" xsi:nil="true"/>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" xsi:nil="true"/>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" xsi:nil="true"/>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="shares" decimals="INF">500000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized contextRef="Context_As_Of_28_Feb_2015T00_00_00_TO_28_Feb_2015T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_BoardOfDirectorsChairmanMember" unitRef="shares" decimals="INF">71991</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized contextRef="Context_As_Of_31_May_2015T00_00_00_TO_31_May_2015T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_BoardOfDirectorsChairmanMember" unitRef="shares" decimals="INF">40867</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized contextRef="Context_As_Of_31_May_2015T00_00_00_TO_31_May_2015T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_BoardOfDirectorsChairmanMember_VestingAxis_VestingPeriodMember" unitRef="shares" decimals="INF">13797</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage contextRef="Context_Custom_01_Feb_2015T00_00_00_TO_28_Feb_2015T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_BoardOfDirectorsChairmanMember" unitRef="pure" decimals="2">1.00</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage>
<stra:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate contextRef="Context_Custom_01_Feb_2015T00_00_00_TO_28_Feb_2015T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_BoardOfDirectorsChairmanMember">2019-02-28</stra:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate>
<stra:ClosingPriceOfStockOnDateOfStockGrant contextRef="Context_As_Of_28_Feb_2015T00_00_00_TO_28_Feb_2015T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_BoardOfDirectorsChairmanMember" unitRef="USD_per_Share" decimals="2">70.15</stra:ClosingPriceOfStockOnDateOfStockGrant>
<stra:ClosingPriceOfStockOnDateOfStockGrant contextRef="Context_As_Of_31_May_2015T00_00_00_TO_31_May_2015T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_BoardOfDirectorsChairmanMember" unitRef="USD_per_Share" decimals="2">48.94</stra:ClosingPriceOfStockOnDateOfStockGrant>
<stra:MaximumTermOfAwardsGrantedUnderPlan contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">P10Y</stra:MaximumTermOfAwardsGrantedUnderPlan>
<us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-5">25700000</us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized>
<us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1 contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">P33M</us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1>
<stra:RestrictedStockAwardSubjectToPerformanceCondition contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="shares" decimals="INF">467000</stra:RestrictedStockAwardSubjectToPerformanceCondition>
<stra:LossOnFacilitiesNotInUse contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">21280000</stra:LossOnFacilitiesNotInUse>
<stra:LossOnFacilitiesNotInUse contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">15229000</stra:LossOnFacilitiesNotInUse>
<us-gaap:DeferredRevenueNoncurrent contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">9654000</us-gaap:DeferredRevenueNoncurrent>
<us-gaap:DeferredRevenueNoncurrent contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">14429000</us-gaap:DeferredRevenueNoncurrent>
<stra:DeferredRentAndOtherFacilityCostsNonCurrent contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">8646000</stra:DeferredRentAndOtherFacilityCostsNonCurrent>
<stra:DeferredRentAndOtherFacilityCostsNonCurrent contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">8993000</stra:DeferredRentAndOtherFacilityCostsNonCurrent>
<stra:DeferredAcquisitionPaymentsNonCurrent contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">5198000</stra:DeferredAcquisitionPaymentsNonCurrent>
<stra:DeferredAcquisitionPaymentsNonCurrent contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">6078000</stra:DeferredAcquisitionPaymentsNonCurrent>
<stra:LeaseIncentivePayableNonCurrent contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">1056000</stra:LeaseIncentivePayableNonCurrent>
<stra:LeaseIncentivePayableNonCurrent contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">3125000</stra:LeaseIncentivePayableNonCurrent>
<us-gaap:DeferredGainOnSaleOfProperty contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">414000</us-gaap:DeferredGainOnSaleOfProperty>
<us-gaap:DeferredGainOnSaleOfProperty contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">133000</us-gaap:DeferredGainOnSaleOfProperty>
<stra:LeaseholdImprovementsLongTermLiabilityAmortizationPeriod contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_RangeAxis_MinimumMember">P5Y</stra:LeaseholdImprovementsLongTermLiabilityAmortizationPeriod>
<stra:LeaseholdImprovementsLongTermLiabilityAmortizationPeriod contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_RangeAxis_MaximumMember">P10Y</stra:LeaseholdImprovementsLongTermLiabilityAmortizationPeriod>
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<us-gaap:SaleLeasebackTransactionLeaseTerms contextRef="Context_Custom_01_Jun_2007T00_00_00_TO_30_Jun_2007T00_00_00">10 years</us-gaap:SaleLeasebackTransactionLeaseTerms>
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<stra:SaleLeaseBackTransactionLeaseTermOne contextRef="Context_Custom_01_Jun_2007T00_00_00_TO_30_Jun_2007T00_00_00">P10Y</stra:SaleLeaseBackTransactionLeaseTermOne>
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<stra:DeferredPaymentArrangementValue contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-5">3300000</stra:DeferredPaymentArrangementValue>
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<us-gaap:DefinedContributionPlanEmployerMatchingContributionPercent contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="pure" decimals="2">0.03</us-gaap:DefinedContributionPlanEmployerMatchingContributionPercent>
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<us-gaap:DefinedContributionPlanEmployerDiscretionaryContributionAmount contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-5">900000</us-gaap:DefinedContributionPlanEmployerDiscretionaryContributionAmount>
<us-gaap:DefinedContributionPlanEmployerDiscretionaryContributionAmount contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-5">1100000</us-gaap:DefinedContributionPlanEmployerDiscretionaryContributionAmount>
<stra:EmployeeStockPurchasePlanPercentageOfPurchasePriceFromMarketValue contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="pure" decimals="2">0.90</stra:EmployeeStockPurchasePlanPercentageOfPurchasePriceFromMarketValue>
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<us-gaap:TreasuryStockAcquiredAverageCostPerShare contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_ShareRepurchaseProgramAxis_StockRepurchasePlanMember" unitRef="USD_per_Share" decimals="2">50.49</us-gaap:TreasuryStockAcquiredAverageCostPerShare>
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<us-gaap:TreasuryStockAcquiredAverageCostPerShare contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_ShareRepurchaseProgramAxis_StockRepurchasePlanMember" unitRef="USD_per_Share" xsi:nil="true"/>
<us-gaap:StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1 contextRef="Context_As_Of_31_Dec_2013T00_00_00_TO_31_Dec_2013T00_00_00_ShareRepurchaseProgramAxis_StockRepurchasePlanMember" unitRef="USD" decimals="-5">70000000</us-gaap:StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1>
<us-gaap:StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1 contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_ShareRepurchaseProgramAxis_StockRepurchasePlanMember" unitRef="USD" decimals="-5">70000000</us-gaap:StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1>
<us-gaap:StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1 contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00_ShareRepurchaseProgramAxis_StockRepurchasePlanMember" unitRef="USD" decimals="-5">70000000</us-gaap:StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1>
<us-gaap:StockRepurchaseProgramAuthorizedAmount1 contextRef="Context_As_Of_30_Nov_2003T00_00_00_TO_30_Nov_2003T00_00_00_ShareRepurchaseProgramAxis_StockRepurchasePlanMember" unitRef="USD" decimals="-6">15000000</us-gaap:StockRepurchaseProgramAuthorizedAmount1>
<us-gaap:OperatingLeasesFutureMinimumPaymentsDueCurrent contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">37240000</us-gaap:OperatingLeasesFutureMinimumPaymentsDueCurrent>
<us-gaap:OperatingLeasesFutureMinimumPaymentsDueInTwoYears contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">33264000</us-gaap:OperatingLeasesFutureMinimumPaymentsDueInTwoYears>
<us-gaap:OperatingLeasesFutureMinimumPaymentsDueInThreeYears contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">28819000</us-gaap:OperatingLeasesFutureMinimumPaymentsDueInThreeYears>
<us-gaap:OperatingLeasesFutureMinimumPaymentsDueInFourYears contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">23444000</us-gaap:OperatingLeasesFutureMinimumPaymentsDueInFourYears>
<us-gaap:OperatingLeasesFutureMinimumPaymentsDueInFiveYears contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">18157000</us-gaap:OperatingLeasesFutureMinimumPaymentsDueInFiveYears>
<us-gaap:OperatingLeasesFutureMinimumPaymentsDueThereafter contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">26140000</us-gaap:OperatingLeasesFutureMinimumPaymentsDueThereafter>
<us-gaap:OperatingLeasesFutureMinimumPaymentsDue contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">167064000</us-gaap:OperatingLeasesFutureMinimumPaymentsDue>
<stra:NumberOfLongTermNonCancelableOperatingLeases contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="Lease" decimals="INF">88</stra:NumberOfLongTermNonCancelableOperatingLeases>
<us-gaap:OperatingLeasesRentExpenseNet contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00" unitRef="USD" decimals="-5">82200000</us-gaap:OperatingLeasesRentExpenseNet>
<us-gaap:OperatingLeasesRentExpenseNet contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-5">35700000</us-gaap:OperatingLeasesRentExpenseNet>
<us-gaap:OperatingLeasesRentExpenseNet contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-5">37500000</us-gaap:OperatingLeasesRentExpenseNet>
<us-gaap:OtherRestructuringCosts contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00" unitRef="USD" decimals="-5">36000000</us-gaap:OtherRestructuringCosts>
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<stra:ReductionOfLiabilityForLossesOnFacilitiesNoLongerInUse contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-5">4100000</stra:ReductionOfLiabilityForLossesOnFacilitiesNoLongerInUse>
<stra:ReductionOfLiabilityForLossesOnFacilitiesNoLongerInUse contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-5">400000</stra:ReductionOfLiabilityForLossesOnFacilitiesNoLongerInUse>
<us-gaap:CurrentFederalTaxExpenseBenefit contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00" unitRef="USD" decimals="-3">26390000</us-gaap:CurrentFederalTaxExpenseBenefit>
<us-gaap:CurrentFederalTaxExpenseBenefit contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">25285000</us-gaap:CurrentFederalTaxExpenseBenefit>
<us-gaap:CurrentFederalTaxExpenseBenefit contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">25515000</us-gaap:CurrentFederalTaxExpenseBenefit>
<us-gaap:CurrentStateAndLocalTaxExpenseBenefit contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00" unitRef="USD" decimals="-3">4582000</us-gaap:CurrentStateAndLocalTaxExpenseBenefit>
<us-gaap:CurrentStateAndLocalTaxExpenseBenefit contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">4490000</us-gaap:CurrentStateAndLocalTaxExpenseBenefit>
<us-gaap:CurrentStateAndLocalTaxExpenseBenefit contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">4538000</us-gaap:CurrentStateAndLocalTaxExpenseBenefit>
<us-gaap:CurrentIncomeTaxExpenseBenefit contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00" unitRef="USD" decimals="-3">30972000</us-gaap:CurrentIncomeTaxExpenseBenefit>
<us-gaap:CurrentIncomeTaxExpenseBenefit contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">29775000</us-gaap:CurrentIncomeTaxExpenseBenefit>
<us-gaap:CurrentIncomeTaxExpenseBenefit contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">30053000</us-gaap:CurrentIncomeTaxExpenseBenefit>
<us-gaap:DeferredFederalIncomeTaxExpenseBenefit contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00" unitRef="USD" decimals="-3">-18387000</us-gaap:DeferredFederalIncomeTaxExpenseBenefit>
<us-gaap:DeferredFederalIncomeTaxExpenseBenefit contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">141000</us-gaap:DeferredFederalIncomeTaxExpenseBenefit>
<us-gaap:DeferredFederalIncomeTaxExpenseBenefit contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">-3634000</us-gaap:DeferredFederalIncomeTaxExpenseBenefit>
<us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00" unitRef="USD" decimals="-3">-1726000</us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit>
<us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">344000</us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit>
<us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">-311000</us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit>
<us-gaap:DeferredIncomeTaxExpenseBenefit contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00" unitRef="USD" decimals="-3">-20113000</us-gaap:DeferredIncomeTaxExpenseBenefit>
<us-gaap:DeferredIncomeTaxExpenseBenefit contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">485000</us-gaap:DeferredIncomeTaxExpenseBenefit>
<us-gaap:DeferredIncomeTaxExpenseBenefit contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">-3945000</us-gaap:DeferredIncomeTaxExpenseBenefit>
<stra:DeferredTaxAssetsTuitionReceivable contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">3439000</stra:DeferredTaxAssetsTuitionReceivable>
<stra:DeferredTaxAssetsTuitionReceivable contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">3908000</stra:DeferredTaxAssetsTuitionReceivable>
<stra:DeferredTaxAssetsOtherFacilityRelatedCosts contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">2824000</stra:DeferredTaxAssetsOtherFacilityRelatedCosts>
<stra:DeferredTaxAssetsOtherFacilityRelatedCosts contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">2538000</stra:DeferredTaxAssetsOtherFacilityRelatedCosts>
<us-gaap:DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">-96000</us-gaap:DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities>
<us-gaap:DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" xsi:nil="true"/>
<us-gaap:DeferredTaxAssetsNetCurrent contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">6167000</us-gaap:DeferredTaxAssetsNetCurrent>
<us-gaap:DeferredTaxAssetsNetCurrent contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">6446000</us-gaap:DeferredTaxAssetsNetCurrent>
<us-gaap:DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">12994000</us-gaap:DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost>
<us-gaap:DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">16742000</us-gaap:DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost>
<us-gaap:DeferredTaxLiabilitiesPropertyPlantAndEquipment contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">11622000</us-gaap:DeferredTaxLiabilitiesPropertyPlantAndEquipment>
<us-gaap:DeferredTaxLiabilitiesPropertyPlantAndEquipment contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">9417000</us-gaap:DeferredTaxLiabilitiesPropertyPlantAndEquipment>
<stra:DeferredTaxAssetsDeferredGainOnSaleOfPropertyNonCurrent contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">8903000</stra:DeferredTaxAssetsDeferredGainOnSaleOfPropertyNonCurrent>
<stra:DeferredTaxAssetsDeferredGainOnSaleOfPropertyNonCurrent contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">6534000</stra:DeferredTaxAssetsDeferredGainOnSaleOfPropertyNonCurrent>
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<us-gaap:DeferredTaxAssetsDerivativeInstruments contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" xsi:nil="true"/>
<us-gaap:DeferredTaxAssetsOther contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">-533000</us-gaap:DeferredTaxAssetsOther>
<us-gaap:DeferredTaxAssetsOther contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">-948000</us-gaap:DeferredTaxAssetsOther>
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<us-gaap:DeferredTaxAssetsLiabilitiesNet contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-3">26449000</us-gaap:DeferredTaxAssetsLiabilitiesNet>
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<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/SignificantAccountingPolicies" id="SignificantAccountingPolicies">
<link:definition>009 - Disclosure - Significant Accounting Policies</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/RestructuringAndRelatedCharges" id="RestructuringAndRelatedCharges">
<link:definition>010 - Disclosure - Restructuring and Related Charges</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/PropertyAndEquipment" id="PropertyAndEquipment">
<link:definition>011 - Disclosure - Property and Equipment</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/FairValueMeasurement" id="FairValueMeasurement">
<link:definition>012 - Disclosure - Fair Value Measurement</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/LongTermDebt" id="LongTermDebt">
<link:definition>013 - Disclosure - Long Term Debt</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/StockOptionsRestrictedStockAndRestrictedStockUnits" id="StockOptionsRestrictedStockAndRestrictedStockUnits">
<link:definition>014 - Disclosure - Stock Options, Restricted Stock and Restricted Stock Units</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/OtherLongTermLiabilities" id="OtherLongTermLiabilities">
<link:definition>015 - Disclosure - Other Long-Term Liabilities</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/OtherEmployeeBenefitPlans" id="OtherEmployeeBenefitPlans">
<link:definition>016 - Disclosure - Other Employee Benefit Plans</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/StockRepurchasePlan" id="StockRepurchasePlan">
<link:definition>017 - Disclosure - Stock Repurchase Plan</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/CommitmentsAndContingencies" id="CommitmentsAndContingencies">
<link:definition>018 - Disclosure - Commitments and Contingencies</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/IncomeTaxes" id="IncomeTaxes">
<link:definition>019 - Disclosure - Income Taxes</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/SummarizedQuarterlyFinancialDataUnaudited" id="SummarizedQuarterlyFinancialDataUnaudited">
<link:definition>020 - Disclosure - Summarized Quarterly Financial Data (Unaudited)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/Litigation" id="Litigation">
<link:definition>021 - Disclosure - Litigation</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/Regulation" id="Regulation">
<link:definition>022 - Disclosure - Regulation</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/SubsequentEvent" id="SubsequentEvent">
<link:definition>023 - Disclosure - Subsequent Event</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/Significantaccountingpoliciespolicies" id="Significantaccountingpoliciespolicies">
<link:definition>024 - Disclosure - Significant Accounting Policies (Policies)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/Significantaccountingpoliciestables" id="Significantaccountingpoliciestables">
<link:definition>025 - Disclosure - Significant Accounting Policies (Tables)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/RestructuringandRelatedChargesTables" id="RestructuringandRelatedChargesTables">
<link:definition>026 - Disclosure - Restructuring and Related Charges (Tables)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/PropertyandEquipmentTables" id="PropertyandEquipmentTables">
<link:definition>027 - Disclosure - Property and Equipment (Tables)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/Fairvaluemeasurementtables" id="Fairvaluemeasurementtables">
<link:definition>028 - Disclosure - Fair Value Measurement (Tables)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/StockOptionsRestrictedStockAndRestrictedStockUnitsTables" id="StockOptionsRestrictedStockAndRestrictedStockUnitsTables">
<link:definition>029 - Disclosure - Stock Options, Restricted Stock and Restricted Stock Units (Tables)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/Otherlongtermliabilitiestables" id="Otherlongtermliabilitiestables">
<link:definition>030 - Disclosure - Other Long-Term Liabilities (Tables)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/OtherEmployeeBenefitPlansTables" id="OtherEmployeeBenefitPlansTables">
<link:definition>031 - Disclosure - Other Employee Benefit Plans (Tables)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/StockRepurchasePlanTables" id="StockRepurchasePlanTables">
<link:definition>032 - Disclosure - Stock Repurchase Plan (Tables)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/CommitmentsAndContingenciesTables" id="CommitmentsAndContingenciesTables">
<link:definition>033 - Disclosure - Commitments and Contingencies (Tables)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/IncomeTaxesTables" id="IncomeTaxesTables">
<link:definition>034 - Disclosure - Income Taxes (Tables)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/SummarizedQuarterlyFinancialDataUnauditedTables" id="SummarizedQuarterlyFinancialDataUnauditedTables">
<link:definition>035 - Disclosure - Summarized Quarterly Financial Data (Unaudited) (Tables)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/Natureofoperationsdetails" id="Natureofoperationsdetails">
<link:definition>036 - Disclosure - Nature of Operations (Details)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/SignificantAccountingPoliciesDetails" id="SignificantAccountingPoliciesDetails">
<link:definition>037 - Disclosure - Significant Accounting Policies (Details)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/SignificantAccountingPoliciesDetails1" id="SignificantAccountingPoliciesDetails1">
<link:definition>038 - Disclosure - Significant Accounting Policies (Details 1)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/SignificantAccountingPoliciesDetails2" id="SignificantAccountingPoliciesDetails2">
<link:definition>039 - Disclosure - Significant Accounting Policies (Details 2)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/Significantaccountingpoliciesdetails3" id="Significantaccountingpoliciesdetails3">
<link:definition>040 - Disclosure - Significant Accounting Policies (Details 3)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/SignificantAccountingPoliciesDetailsTextual" id="SignificantAccountingPoliciesDetailsTextual">
<link:definition>041 - Disclosure - Significant Accounting Policies (Details Textual)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/RestructuringandRelatedChargesDetails" id="RestructuringandRelatedChargesDetails">
<link:definition>042 - Disclosure - Restructuring and Related Charges (Details)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/RestructuringAndRelatedChargesDetailsTextual" id="RestructuringAndRelatedChargesDetailsTextual">
<link:definition>043 - Disclosure - Restructuring and Related Charges (Details Textual)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/PropertyandEquipmentDetails" id="PropertyandEquipmentDetails">
<link:definition>044 - Disclosure - Property and Equipment (Details)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/PropertyAndEquipmentDetailsTetual" id="PropertyAndEquipmentDetailsTetual">
<link:definition>045 - Disclosure - Property and Equipment (Details Textual)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/Fairvaluemeasurementdetails" id="Fairvaluemeasurementdetails">
<link:definition>046 - Disclosure - Fair Value Measurement (Details)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/Fairvaluemeasurementdetails1" id="Fairvaluemeasurementdetails1">
<link:definition>047 - Disclosure - Fair Value Measurement (Details 1)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/Fairvaluemeasurementdetailstextual" id="Fairvaluemeasurementdetailstextual">
<link:definition>048 - Disclosure - Fair Value Measurement (Details Textual)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/LongTermDebtDetails" id="LongTermDebtDetails">
<link:definition>049 - Disclosure - Long Term Debt (Details)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/StockOptionsRestrictedStockAndRestrictedStockUnitsDetails" id="StockOptionsRestrictedStockAndRestrictedStockUnitsDetails">
<link:definition>050 - Disclosure - Stock Options, Restricted Stock and Restricted Stock Units (Details)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/StockOptionsRestrictedStockAndRestrictedStockUnitsDetails1" id="StockOptionsRestrictedStockAndRestrictedStockUnitsDetails1">
<link:definition>051 - Disclosure - Stock Options, Restricted Stock and Restricted Stock Units (Details 1)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/StockOptionsRestrictedStockAndRestrictedStockUnitsDetails2" id="StockOptionsRestrictedStockAndRestrictedStockUnitsDetails2">
<link:definition>052 - Disclosure - Stock Options, Restricted Stock and Restricted Stock Units (Details 2)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/Stockoptionsrestrictedstockandrestrictedstockunitsdetails3" id="Stockoptionsrestrictedstockandrestrictedstockunitsdetails3">
<link:definition>053 - Disclosure - Stock Options, Restricted Stock and Restricted Stock Units (Details 3)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/StockOptionsRestrictedStockAndRestrictedStockUnitsDetails4" id="StockOptionsRestrictedStockAndRestrictedStockUnitsDetails4">
<link:definition>054 - Disclosure - Stock Options, Restricted Stock and Restricted Stock Units (Details 4)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/StockOptionsRestrictedStockAndRestrictedStockUnitsDetailsTextual" id="StockOptionsRestrictedStockAndRestrictedStockUnitsDetailsTextual">
<link:definition>055 - Disclosure - Stock Options, Restricted Stock and Restricted Stock Units (Details Textual)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/Otherlongtermliabilitiesdetails" id="Otherlongtermliabilitiesdetails">
<link:definition>056 - Disclosure - Other Long-Term Liabilities (Details)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/OtherlongtermLiabilitiesDetailsTextual" id="OtherlongtermLiabilitiesDetailsTextual">
<link:definition>057 - Disclosure - Other Long-Term Liabilities (Details Textual)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/OtherEmployeeBenefitPlansDetails" id="OtherEmployeeBenefitPlansDetails">
<link:definition>058 - Disclosure - Other Employee Benefit Plans (Details)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/OtherEmployeeBenefitPlansDetailsTextual" id="OtherEmployeeBenefitPlansDetailsTextual">
<link:definition>059 - Disclosure - Other Employee Benefit Plans (Details Textual)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/StockRepurchasePlanDetails" id="StockRepurchasePlanDetails">
<link:definition>060 - Disclosure - Stock Repurchase Plan (Details)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/StockRepurchasePlanDetailsTextual" id="StockRepurchasePlanDetailsTextual">
<link:definition>061 - Disclosure - Stock Repurchase Plan (Details Textual)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/CommitmentsAndContingenciesDetails" id="CommitmentsAndContingenciesDetails">
<link:definition>062 - Disclosure - Commitments and Contingencies (Details)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/CommitmentsAndContingenciesDetailsTextual" id="CommitmentsAndContingenciesDetailsTextual">
<link:definition>063 - Disclosure - Commitments and Contingencies (Details Textual)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/IncomeTaxesDetails" id="IncomeTaxesDetails">
<link:definition>064 - Disclosure - Income Taxes (Details)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/IncomeTaxesDetails1" id="IncomeTaxesDetails1">
<link:definition>065 - Disclosure - Income Taxes (Details 1)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/IncomeTaxesDetails2" id="IncomeTaxesDetails2">
<link:definition>066 - Disclosure - Income Taxes (Details 2)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/IncomeTaxesDetails3" id="IncomeTaxesDetails3">
<link:definition>067 - Disclosure - Income Taxes (Details 3)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/IncomeTaxesDetailsTextual" id="IncomeTaxesDetailsTextual">
<link:definition>068 - Disclosure - Income Taxes (Details Textual)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/SummarizedQuarterlyFinancialDataUnauditedDetails" id="SummarizedQuarterlyFinancialDataUnauditedDetails">
<link:definition>069 - Disclosure - Summarized Quarterly Financial Data (Unaudited) (Details)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/RegulationDetails" id="RegulationDetails">
<link:definition>070 - Disclosure - Regulation (Details)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:roleType roleURI="http://strayereducation.com/role/SubsequentEventDetails" id="SubsequentEventDetails">
<link:definition>071 - Disclosure - Subsequent Event (Details)</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
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<import namespace="http://www.xbrl.org/2003/linkbase" schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd"/>
<import namespace="http://xbrl.org/2005/xbrldt" schemaLocation="http://www.xbrl.org/2005/xbrldt-2005.xsd"/>
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<import namespace="http://xbrl.sec.gov/invest/2013-01-31" schemaLocation="http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd"/>
<import namespace="http://xbrl.sec.gov/country/2013-01-31" schemaLocation="http://xbrl.sec.gov/country/2013/country-2013-01-31.xsd"/>
<import namespace="http://xbrl.sec.gov/currency/2014-01-31" schemaLocation="http://xbrl.sec.gov/currency/2014/currency-2014-01-31.xsd"/>
<import namespace="http://xbrl.sec.gov/exch/2015-01-31" schemaLocation="http://xbrl.sec.gov/exch/2015/exch-2015-01-31.xsd"/>
<import namespace="http://xbrl.sec.gov/naics/2011-01-31" schemaLocation="http://xbrl.sec.gov/naics/2011/naics-2011-01-31.xsd"/>
<import namespace="http://xbrl.sec.gov/sic/2011-01-31" schemaLocation="http://xbrl.sec.gov/sic/2011/sic-2011-01-31.xsd"/>
<import namespace="http://xbrl.sec.gov/stpr/2011-01-31" schemaLocation="http://xbrl.sec.gov/stpr/2011/stpr-2011-01-31.xsd"/>
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<element name="SeveranceAndOtherEmployeeSeparationCosts" id="stra_SeveranceAndOtherEmployeeSeparationCosts" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item"/>
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<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>10
<FILENAME>stra-20151231_cal.xml
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<TEXT>
<XBRL>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_dei_CurrentFiscalYearEndDate" xml:lang="en-US">Current Fiscal Year End Date</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_dei_DocumentType" xml:lang="en-US">Document Type</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_dei_DocumentType" xml:lang="en-US">Document Type</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_dei_DocumentPeriodEndDate" xml:lang="en-US">Document Period End Date</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_dei_DocumentPeriodEndDate" xml:lang="en-US">Document Period End Date</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_dei_DocumentFiscalPeriodFocus" xml:lang="en-US">Document Fiscal Period Focus</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_dei_DocumentFiscalPeriodFocus" xml:lang="en-US">Document Fiscal Period Focus</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_dei_DocumentFiscalPeriodFocus" xlink:to="lab_H102J5M3LHLI198LHKK4_dei_DocumentFiscalPeriodFocus"/>
<loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="loc_4HJF4FF74949_dei_DocumentFiscalYearFocus"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_dei_DocumentFiscalYearFocus" xml:lang="en-US">Document Fiscal Year Focus</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_dei_DocumentFiscalYearFocus" xml:lang="en-US">Document Fiscal Year Focus</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_dei_DocumentFiscalYearFocus" xlink:to="lab_6JLH6HH96161_dei_DocumentFiscalYearFocus"/>
<loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="loc_F980H3K1JFJG976JFII2_dei_EntityWellKnownSeasonedIssuer"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_dei_EntityWellKnownSeasonedIssuer" xml:lang="en-US">Entity Well-known Seasoned Issuer</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_dei_EntityWellKnownSeasonedIssuer" xlink:to="lab_H102J5M3LHLI198LHKK4_dei_EntityWellKnownSeasonedIssuer"/>
<loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityVoluntaryFilers" xlink:label="loc_4HJF4FF74949_dei_EntityVoluntaryFilers"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_dei_EntityVoluntaryFilers" xml:lang="en-US">Entity Voluntary Filers</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_dei_EntityVoluntaryFilers" xlink:to="lab_6JLH6HH96161_dei_EntityVoluntaryFilers"/>
<loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="loc_F980H3K1JFJG976JFII2_dei_EntityCurrentReportingStatus"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_dei_EntityCurrentReportingStatus" xml:lang="en-US">Entity Current Reporting Status</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_dei_EntityCurrentReportingStatus" xlink:to="lab_H102J5M3LHLI198LHKK4_dei_EntityCurrentReportingStatus"/>
<loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityFilerCategory" xlink:label="loc_4HJF4FF74949_dei_EntityFilerCategory"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_dei_EntityFilerCategory" xml:lang="en-US">Entity Filer Category</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_dei_EntityFilerCategory" xml:lang="en-US">Entity Filer Category</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_dei_EntityFilerCategory" xlink:to="lab_6JLH6HH96161_dei_EntityFilerCategory"/>
<loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityPublicFloat" xlink:label="loc_F980H3K1JFJG976JFII2_dei_EntityPublicFloat"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_dei_EntityPublicFloat" xml:lang="en-US">Entity Public Float</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_dei_EntityPublicFloat" xlink:to="lab_H102J5M3LHLI198LHKK4_dei_EntityPublicFloat"/>
<loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="loc_4HJF4FF74949_dei_EntityCommonStockSharesOutstanding"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_dei_EntityCommonStockSharesOutstanding" xml:lang="en-US">Entity Common Stock, Shares Outstanding</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_dei_EntityCommonStockSharesOutstanding" xml:lang="en-US">Entity Common Stock, Shares Outstanding</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_dei_EntityCommonStockSharesOutstanding" xlink:to="lab_6JLH6HH96161_dei_EntityCommonStockSharesOutstanding"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_StatementOfFinancialPositionAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_StatementOfFinancialPositionAbstract" xml:lang="en-US">Balance Sheets [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_StatementOfFinancialPositionAbstract" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_StatementOfFinancialPositionAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsAbstract" xlink:label="loc_4HJF4FF74949_us-gaap_AssetsAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_AssetsAbstract" xml:lang="en-US">Assets [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_AssetsAbstract" xml:lang="en-US">ASSETS</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_AssetsAbstract" xlink:to="lab_6JLH6HH96161_us-gaap_AssetsAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsCurrentAbstract" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_AssetsCurrentAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AssetsCurrentAbstract" xml:lang="en-US">Assets, Current [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AssetsCurrentAbstract" xml:lang="en-US">Current assets:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_AssetsCurrentAbstract" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_AssetsCurrentAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="loc_4HJF4FF74949_us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_CashAndCashEquivalentsAtCarryingValue" xml:lang="en-US">Cash and Cash Equivalents, at Carrying Value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_CashAndCashEquivalentsAtCarryingValue" xml:lang="en-US">Cash and cash equivalents</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_6JLH6HH96161_us-gaap_CashAndCashEquivalentsAtCarryingValue" xml:lang="en-US">Cash and Cash Equivalents, at Carrying Value, Total</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_6JLH6HH96161_us-gaap_CashAndCashEquivalentsAtCarryingValue" xml:lang="en-US">Cash and cash equivalents - beginning of year</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_6JLH6HH96161_us-gaap_CashAndCashEquivalentsAtCarryingValue" xml:lang="en-US">Cash and cash equivalents - end of year</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="lab_6JLH6HH96161_us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_AccountsReceivableNetCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AccountsReceivableNetCurrent" xml:lang="en-US">Accounts Receivable, Net, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AccountsReceivableNetCurrent" xml:lang="en-US">Tuition receivable, net</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AccountsReceivableNetCurrent" xml:lang="en-US">Tuition receivable, net</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_AccountsReceivableNetCurrent" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_AccountsReceivableNetCurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherAssetsCurrent" xlink:label="loc_4HJF4FF74949_us-gaap_OtherAssetsCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_OtherAssetsCurrent" xml:lang="en-US">Other Assets, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_OtherAssetsCurrent" xml:lang="en-US">Other current assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_6JLH6HH96161_us-gaap_OtherAssetsCurrent" xml:lang="en-US">Other current assets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_OtherAssetsCurrent" xlink:to="lab_6JLH6HH96161_us-gaap_OtherAssetsCurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsCurrent" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_AssetsCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AssetsCurrent" xml:lang="en-US">Assets, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AssetsCurrent" xml:lang="en-US">Total current assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AssetsCurrent" xml:lang="en-US">Total current assets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_AssetsCurrent" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_AssetsCurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="loc_4HJF4FF74949_us-gaap_PropertyPlantAndEquipmentNet"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_PropertyPlantAndEquipmentNet" xml:lang="en-US">Property, Plant and Equipment, Net</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_PropertyPlantAndEquipmentNet" xml:lang="en-US">Property and equipment, net</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_6JLH6HH96161_us-gaap_PropertyPlantAndEquipmentNet" xml:lang="en-US">Property and equipment, net</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_6JLH6HH96161_us-gaap_PropertyPlantAndEquipmentNet" xml:lang="en-US">Property, Plant and Equipment, Net, Beginning Balance</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_6JLH6HH96161_us-gaap_PropertyPlantAndEquipmentNet" xml:lang="en-US">Property, Plant and Equipment, Net, Ending Balance</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_PropertyPlantAndEquipmentNet" xlink:to="lab_6JLH6HH96161_us-gaap_PropertyPlantAndEquipmentNet"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxAssetsNetNoncurrent" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_DeferredTaxAssetsNetNoncurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_DeferredTaxAssetsNetNoncurrent" xml:lang="en-US">Deferred Tax Assets, Net of Valuation Allowance, Noncurrent</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_DeferredTaxAssetsNetNoncurrent" xml:lang="en-US">Deferred income taxes</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_DeferredTaxAssetsNetNoncurrent" xml:lang="en-US">Long-term net deferred tax asset</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_DeferredTaxAssetsNetNoncurrent" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_DeferredTaxAssetsNetNoncurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Goodwill" xlink:label="loc_4HJF4FF74949_us-gaap_Goodwill"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_Goodwill" xml:lang="en-US">Goodwill</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_Goodwill" xml:lang="en-US">Goodwill</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_6JLH6HH96161_us-gaap_Goodwill" xml:lang="en-US">Net carrying amount as of December 31, 2011</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_6JLH6HH96161_us-gaap_Goodwill" xml:lang="en-US">Goodwill as of December 31, 2010</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_6JLH6HH96161_us-gaap_Goodwill" xml:lang="en-US">Goodwill as of December 31, 2011</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_Goodwill" xlink:to="lab_6JLH6HH96161_us-gaap_Goodwill"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherAssetsNoncurrent" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_OtherAssetsNoncurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_OtherAssetsNoncurrent" xml:lang="en-US">Other Assets, Noncurrent</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_OtherAssetsNoncurrent" xml:lang="en-US">Other assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_OtherAssetsNoncurrent" xml:lang="en-US">Other Assets, Noncurrent, Total</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Assets" xlink:label="loc_4HJF4FF74949_us-gaap_Assets"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_Assets" xml:lang="en-US">Assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_Assets" xml:lang="en-US">Total assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_6JLH6HH96161_us-gaap_Assets" xml:lang="en-US">Total assets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_Assets" xlink:to="lab_6JLH6HH96161_us-gaap_Assets"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_LiabilitiesAndStockholdersEquityAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xml:lang="en-US">Liabilities and Stockholders' Equity [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xml:lang="en-US">LIABILITIES &amp; STOCKHOLDERS' EQUITY</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_LiabilitiesAndStockholdersEquityAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesCurrentAbstract" xlink:label="loc_4HJF4FF74949_us-gaap_LiabilitiesCurrentAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_LiabilitiesCurrentAbstract" xml:lang="en-US">Liabilities, Current [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_LiabilitiesCurrentAbstract" xml:lang="en-US">Current liabilities:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_LiabilitiesCurrentAbstract" xlink:to="lab_6JLH6HH96161_us-gaap_LiabilitiesCurrentAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent" xml:lang="en-US">Accounts Payable and Accrued Liabilities, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent" xml:lang="en-US">Accounts payable and accrued expenses</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent" xml:lang="en-US">Accounts Payable and Accrued Liabilities, Current, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_TaxesPayableCurrent" xlink:label="loc_4HJF4FF74949_us-gaap_TaxesPayableCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_TaxesPayableCurrent" xml:lang="en-US">Taxes Payable, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_TaxesPayableCurrent" xml:lang="en-US">Income taxes payable</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_TaxesPayableCurrent" xlink:to="lab_6JLH6HH96161_us-gaap_TaxesPayableCurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredRevenueCurrent" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_DeferredRevenueCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_DeferredRevenueCurrent" xml:lang="en-US">Deferred Revenue, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_DeferredRevenueCurrent" xml:lang="en-US">Deferred revenue</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_DeferredRevenueCurrent" xml:lang="en-US">Unearned tuition</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_DeferredRevenueCurrent" xml:lang="en-US">Deferred Revenue, Current, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_DeferredRevenueCurrent" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_DeferredRevenueCurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherLiabilitiesCurrent" xlink:label="loc_4HJF4FF74949_us-gaap_OtherLiabilitiesCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_OtherLiabilitiesCurrent" xml:lang="en-US">Other Liabilities, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_OtherLiabilitiesCurrent" xml:lang="en-US">Other current liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_6JLH6HH96161_us-gaap_OtherLiabilitiesCurrent" xml:lang="en-US">Other current liabilities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_OtherLiabilitiesCurrent" xlink:to="lab_6JLH6HH96161_us-gaap_OtherLiabilitiesCurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermDebtCurrent" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_LongTermDebtCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LongTermDebtCurrent" xml:lang="en-US">Long-term Debt, Current Maturities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LongTermDebtCurrent" xml:lang="en-US">Less: Current portion of long-term debt</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LongTermDebtCurrent" xml:lang="en-US">Current portion of debt</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LongTermDebtCurrent" xml:lang="en-US">Long-term Debt, Current Maturities, Total</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LongTermDebtCurrent" xml:lang="en-US">Less: Current portion of long-term debt</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_LongTermDebtCurrent" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_LongTermDebtCurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:label="loc_4HJF4FF74949_us-gaap_LiabilitiesCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_LiabilitiesCurrent" xml:lang="en-US">Liabilities, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_LiabilitiesCurrent" xml:lang="en-US">Total current liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_6JLH6HH96161_us-gaap_LiabilitiesCurrent" xml:lang="en-US">Total current liabilities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_LiabilitiesCurrent" xlink:to="lab_6JLH6HH96161_us-gaap_LiabilitiesCurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermDebtNoncurrent" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_LongTermDebtNoncurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LongTermDebtNoncurrent" xml:lang="en-US">Long-term debt</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LongTermDebtNoncurrent" xml:lang="en-US">Long-term debt</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LongTermDebtNoncurrent" xml:lang="en-US">Long term debt</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_LongTermDebtNoncurrent" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_LongTermDebtNoncurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent" xlink:label="loc_4HJF4FF74949_us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent" xml:lang="en-US">Liabilities, Other than Long-term Debt, Noncurrent</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent" xml:lang="en-US">Other long-term liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_6JLH6HH96161_us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent" xml:lang="en-US">Total other long-term liabilities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent" xlink:to="lab_6JLH6HH96161_us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Liabilities" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_Liabilities"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_Liabilities" xml:lang="en-US">Liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_Liabilities" xml:lang="en-US">Total liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_Liabilities" xml:lang="en-US">Total liabilities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_Liabilities" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_Liabilities"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommitmentsAndContingencies" xlink:label="loc_4HJF4FF74949_us-gaap_CommitmentsAndContingencies"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_CommitmentsAndContingencies" xml:lang="en-US">Commitments and Contingencies</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_CommitmentsAndContingencies" xml:lang="en-US">Commitments and contingencies</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_CommitmentsAndContingencies" xlink:to="lab_6JLH6HH96161_us-gaap_CommitmentsAndContingencies"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_StockholdersEquityAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_StockholdersEquityAbstract" xml:lang="en-US">Stockholders' Equity Attributable To Parent [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_StockholdersEquityAbstract" xml:lang="en-US">Stockholders' equity:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_StockholdersEquityAbstract" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_StockholdersEquityAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockValue" xlink:label="loc_4HJF4FF74949_us-gaap_CommonStockValue"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_CommonStockValue" xml:lang="en-US">Common Stock, Value, Issued</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_CommonStockValue" xml:lang="en-US">Common stock, par value $0.01; 20,000,000 shares authorized; 10,903,341 and 11,027,177 shares issued and outstanding at December 31, 2014 and 2015, respectively</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_6JLH6HH96161_us-gaap_CommonStockValue" xml:lang="en-US">Common Stock, Value, Issued, Total</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_6JLH6HH96161_us-gaap_CommonStockValue" xml:lang="en-US">Common Stock, Value, Issued, Beginning Balance</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_6JLH6HH96161_us-gaap_CommonStockValue" xml:lang="en-US">Common Stock, Value, Issued, Ending Balance</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_CommonStockValue" xlink:to="lab_6JLH6HH96161_us-gaap_CommonStockValue"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AdditionalPaidInCapitalCommonStock" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_AdditionalPaidInCapitalCommonStock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AdditionalPaidInCapitalCommonStock" xml:lang="en-US">Additional Paid in Capital, Common Stock</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AdditionalPaidInCapitalCommonStock" xml:lang="en-US">Additional paid-in capital</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_AdditionalPaidInCapitalCommonStock" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_AdditionalPaidInCapitalCommonStock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="loc_4HJF4FF74949_us-gaap_RetainedEarningsAccumulatedDeficit"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_RetainedEarningsAccumulatedDeficit" xml:lang="en-US">Retained Earnings (Accumulated Deficit)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_RetainedEarningsAccumulatedDeficit" xml:lang="en-US">Retained earnings</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_6JLH6HH96161_us-gaap_RetainedEarningsAccumulatedDeficit" xml:lang="en-US">Retained Earnings (Accumulated Deficit), Total</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_6JLH6HH96161_us-gaap_RetainedEarningsAccumulatedDeficit" xml:lang="en-US">Retained Earnings (Accumulated Deficit), Beginning Balance</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_6JLH6HH96161_us-gaap_RetainedEarningsAccumulatedDeficit" xml:lang="en-US">Retained Earnings (Accumulated Deficit), Ending Balance</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:to="lab_6JLH6HH96161_us-gaap_RetainedEarningsAccumulatedDeficit"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss), Net Of Tax</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xml:lang="en-US">Accumulated other comprehensive income</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss), Net of Tax, Total</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="loc_4HJF4FF74949_us-gaap_StockholdersEquity"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_StockholdersEquity" xml:lang="en-US">Stockholders' Equity Attributable To Parent</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_StockholdersEquity" xml:lang="en-US">Total stockholders' equity</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_6JLH6HH96161_us-gaap_StockholdersEquity" xml:lang="en-US">Total stockholders' equity</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_6JLH6HH96161_us-gaap_StockholdersEquity" xml:lang="en-US">Beginning balance</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_6JLH6HH96161_us-gaap_StockholdersEquity" xml:lang="en-US">Ending balance</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_StockholdersEquity" xlink:to="lab_6JLH6HH96161_us-gaap_StockholdersEquity"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_LiabilitiesAndStockholdersEquity"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LiabilitiesAndStockholdersEquity" xml:lang="en-US">Liabilities and Stockholders' Equity</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LiabilitiesAndStockholdersEquity" xml:lang="en-US">Total liabilities and stockholders' equity</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LiabilitiesAndStockholdersEquity" xml:lang="en-US">Total liabilities and stockholders' equity</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_LiabilitiesAndStockholdersEquity"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:label="loc_4HJF4FF74949_us-gaap_CommonStockParOrStatedValuePerShare"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_CommonStockParOrStatedValuePerShare" xml:lang="en-US">Common Stock, Par or Stated Value Per Share</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_CommonStockParOrStatedValuePerShare" xml:lang="en-US">Common stock, par value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_CommonStockParOrStatedValuePerShare" xml:lang="en-US">Common stock, par value</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_CommonStockParOrStatedValuePerShare" xlink:to="lab_6JLH6HH96161_us-gaap_CommonStockParOrStatedValuePerShare"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockSharesAuthorized" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_CommonStockSharesAuthorized"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_CommonStockSharesAuthorized" xml:lang="en-US">Common Stock, Shares Authorized</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_CommonStockSharesAuthorized" xml:lang="en-US">Common stock, shares authorized</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_CommonStockSharesAuthorized" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_CommonStockSharesAuthorized"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="loc_4HJF4FF74949_us-gaap_CommonStockSharesIssued"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_CommonStockSharesIssued" xml:lang="en-US">Common Stock, Shares, Issued</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_CommonStockSharesIssued" xml:lang="en-US">Common stock, shares issued</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_6JLH6HH96161_us-gaap_CommonStockSharesIssued" xml:lang="en-US">Common Stock, Shares, Issued, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_CommonStockSharesIssued" xlink:to="lab_6JLH6HH96161_us-gaap_CommonStockSharesIssued"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_CommonStockSharesOutstanding"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_CommonStockSharesOutstanding" xml:lang="en-US">Common Stock, Shares, Outstanding</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_CommonStockSharesOutstanding" xml:lang="en-US">Common stock, shares outstanding</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_CommonStockSharesOutstanding" xml:lang="en-US">Beginning Balance, Shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_CommonStockSharesOutstanding" xml:lang="en-US">Ending Balance, Shares</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_CommonStockSharesOutstanding" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_CommonStockSharesOutstanding"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeStatementAbstract" xlink:label="loc_4HJF4FF74949_us-gaap_IncomeStatementAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_IncomeStatementAbstract" xml:lang="en-US">Statements of Income [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_IncomeStatementAbstract" xlink:to="lab_6JLH6HH96161_us-gaap_IncomeStatementAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SalesRevenueServicesNet" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_SalesRevenueServicesNet"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_SalesRevenueServicesNet" xml:lang="en-US">Sales Revenue, Services, Net</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_SalesRevenueServicesNet" xml:lang="en-US">Revenues</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_SalesRevenueServicesNet" xml:lang="en-US">Revenues</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_SalesRevenueServicesNet" xml:lang="en-US">Sales Revenue, Services, Net, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_SalesRevenueServicesNet" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_SalesRevenueServicesNet"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CostsAndExpensesAbstract" xlink:label="loc_4HJF4FF74949_us-gaap_CostsAndExpensesAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_CostsAndExpensesAbstract" xml:lang="en-US">Costs and Expenses [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_CostsAndExpensesAbstract" xml:lang="en-US">Costs and expenses:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_CostsAndExpensesAbstract" xlink:to="lab_6JLH6HH96161_us-gaap_CostsAndExpensesAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CostOfServices" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_CostOfServices"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_CostOfServices" xml:lang="en-US">Instruction and educational support</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_CostOfServices" xml:lang="en-US">Instruction and educational support</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_CostOfServices" xml:lang="en-US">Instruction and educational support</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_CostOfServices" xml:lang="en-US">Instruction and educational support</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_CostOfServices" xml:lang="en-US">Instruction and educational support</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_CostOfServices" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_CostOfServices"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SellingAndMarketingExpense" xlink:label="loc_4HJF4FF74949_us-gaap_SellingAndMarketingExpense"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_SellingAndMarketingExpense" xml:lang="en-US">Selling and Marketing Expense</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_SellingAndMarketingExpense" xml:lang="en-US">Marketing</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_SellingAndMarketingExpense" xlink:to="lab_6JLH6HH96161_us-gaap_SellingAndMarketingExpense"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_AdmissionsAdvisory" xlink:label="loc_F980H3K1JFJG976JFII2_stra_AdmissionsAdvisory"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_AdmissionsAdvisory" xml:lang="en-US">Admissions Advisory</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_AdmissionsAdvisory" xml:lang="en-US">Admissions advisory</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_AdmissionsAdvisory" xml:lang="en-US">Includes salaries, benefits, and related costs of personnel engaged in admissions.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_AdmissionsAdvisory" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_AdmissionsAdvisory"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_GeneralAndAdministrativeExpense" xlink:label="loc_4HJF4FF74949_us-gaap_GeneralAndAdministrativeExpense"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_GeneralAndAdministrativeExpense" xml:lang="en-US">General and administration</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_GeneralAndAdministrativeExpense" xml:lang="en-US">General and administration</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_GeneralAndAdministrativeExpense" xml:lang="en-US">General and administration</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_6JLH6HH96161_us-gaap_GeneralAndAdministrativeExpense" xml:lang="en-US">General and Administrative Expense, Total</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_6JLH6HH96161_us-gaap_GeneralAndAdministrativeExpense" xml:lang="en-US">General and administration</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_GeneralAndAdministrativeExpense" xlink:to="lab_6JLH6HH96161_us-gaap_GeneralAndAdministrativeExpense"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CostsAndExpenses" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_CostsAndExpenses"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_CostsAndExpenses" xml:lang="en-US">Costs and Expenses</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_CostsAndExpenses" xml:lang="en-US">Total costs and expenses</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_CostsAndExpenses" xml:lang="en-US">Total costs and expenses</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_CostsAndExpenses" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_CostsAndExpenses"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:label="loc_4HJF4FF74949_us-gaap_OperatingIncomeLoss"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_OperatingIncomeLoss" xml:lang="en-US">Operating Income (Loss)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_OperatingIncomeLoss" xml:lang="en-US">Income (loss) from operations</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_OperatingIncomeLoss" xml:lang="en-US">Income (loss) from operations</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_6JLH6HH96161_us-gaap_OperatingIncomeLoss" xml:lang="en-US">Income from operations</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/presentationGuidance" xlink:label="lab_6JLH6HH96161_us-gaap_OperatingIncomeLoss" xml:lang="en-US">Income from operations</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_OperatingIncomeLoss" xlink:to="lab_6JLH6HH96161_us-gaap_OperatingIncomeLoss"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InvestmentIncomeNonoperating" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_InvestmentIncomeNonoperating"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_InvestmentIncomeNonoperating" xml:lang="en-US">Investment Income, Nonoperating</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_InvestmentIncomeNonoperating" xml:lang="en-US">Investment income</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_InvestmentIncomeNonoperating" xml:lang="en-US">Investment and other income</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_InvestmentIncomeNonoperating" xml:lang="en-US">Investment Income, Nonoperating, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_InvestmentIncomeNonoperating" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_InvestmentIncomeNonoperating"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestExpense" xlink:label="loc_4HJF4FF74949_us-gaap_InterestExpense"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_InterestExpense" xml:lang="en-US">Interest Expense</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_InterestExpense" xml:lang="en-US">Interest expense</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_6JLH6HH96161_us-gaap_InterestExpense" xml:lang="en-US">Interest Expense, Total</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xml:lang="en-US">Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xml:lang="en-US">Income before income taxes</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="loc_4HJF4FF74949_us-gaap_IncomeTaxExpenseBenefit"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_IncomeTaxExpenseBenefit" xml:lang="en-US">Income Tax Expense (Benefit)</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_6JLH6HH96161_us-gaap_IncomeTaxExpenseBenefit" xml:lang="en-US">Total provision for income taxes</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_IncomeTaxExpenseBenefit" xlink:to="lab_6JLH6HH96161_us-gaap_IncomeTaxExpenseBenefit"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_NetIncomeLoss"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_NetIncomeLoss" xml:lang="en-US">Net Income (Loss) Attributable to Parent</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_NetIncomeLoss" xml:lang="en-US">Net income (loss)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_NetIncomeLoss" xml:lang="en-US">Net income</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_NetIncomeLoss" xml:lang="en-US">Net income</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/presentationGuidance" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_NetIncomeLoss" xml:lang="en-US">Net income</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_NetIncomeLoss" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_NetIncomeLoss"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EarningsPerShareAbstract" xlink:label="loc_4HJF4FF74949_us-gaap_EarningsPerShareAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_EarningsPerShareAbstract" xml:lang="en-US">Earnings Per Share [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_EarningsPerShareAbstract" xml:lang="en-US">Net income per share:</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_EarningsPerShareAbstract" xml:lang="en-US">Earnings per share:</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/definitionGuidance" xlink:label="lab_6JLH6HH96161_us-gaap_EarningsPerShareAbstract" xml:lang="en-US">Net income (loss) per share:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_EarningsPerShareAbstract" xlink:to="lab_6JLH6HH96161_us-gaap_EarningsPerShareAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EarningsPerShareBasic" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_EarningsPerShareBasic"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_EarningsPerShareBasic" xml:lang="en-US">Earnings Per Share, Basic</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_EarningsPerShareBasic" xml:lang="en-US">Basic</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_EarningsPerShareBasic" xml:lang="en-US">Basic</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_EarningsPerShareBasic" xml:lang="en-US">Earnings Per Share, Basic, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_EarningsPerShareBasic" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_EarningsPerShareBasic"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EarningsPerShareDiluted" xlink:label="loc_4HJF4FF74949_us-gaap_EarningsPerShareDiluted"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_EarningsPerShareDiluted" xml:lang="en-US">Earnings Per Share, Diluted</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_EarningsPerShareDiluted" xml:lang="en-US">Diluted</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_EarningsPerShareDiluted" xml:lang="en-US">Diluted</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_6JLH6HH96161_us-gaap_EarningsPerShareDiluted" xml:lang="en-US">Earnings Per Share, Diluted, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_EarningsPerShareDiluted" xlink:to="lab_6JLH6HH96161_us-gaap_EarningsPerShareDiluted"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xml:lang="en-US">Weighted Average Number Of Shares Outstanding, Diluted [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xml:lang="en-US">Weighted average shares outstanding:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="loc_4HJF4FF74949_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xml:lang="en-US">Weighted Average Number Of Shares Outstanding, Basic</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xml:lang="en-US">Weighted average shares outstanding used to compute basic earnings per share</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xml:lang="en-US">Basic</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_6JLH6HH96161_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Basic, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:to="lab_6JLH6HH96161_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xml:lang="en-US">Diluted</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xml:lang="en-US">Shares used to compute diluted earnings per share</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xml:lang="en-US">Diluted</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xml:lang="en-US">Shares used to compute diluted earnings per share</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:label="loc_4HJF4FF74949_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xml:lang="en-US">Statements of Comprehensive Income [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xml:lang="en-US">Consolidated Statements of Comprehensive Income [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:to="lab_6JLH6HH96161_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParentAbstract" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParentAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParentAbstract" xml:lang="en-US">Other Comprehensive Income (Loss), Net Of Tax, Portion Attributable To Parent [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParentAbstract" xml:lang="en-US">Other comprehensive income:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParentAbstract" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParentAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax" xlink:label="loc_4HJF4FF74949_us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax" xml:lang="en-US">Change in fair value of derivative instrument, net of income tax</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax" xml:lang="en-US">Change in fair value of derivative instrument, net of income tax</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax" xml:lang="en-US">Change in fair value of derivative instrument, net of income tax</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_6JLH6HH96161_us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax" xml:lang="en-US">Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax" xlink:to="lab_6JLH6HH96161_us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_ComprehensiveIncomeNetOfTax"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ComprehensiveIncomeNetOfTax" xml:lang="en-US">Comprehensive Income, Net Of Tax, Attributable To Parent</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ComprehensiveIncomeNetOfTax" xml:lang="en-US">Comprehensive income</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ComprehensiveIncomeNetOfTax" xml:lang="en-US">Comprehensive income</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_ComprehensiveIncomeNetOfTax" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_ComprehensiveIncomeNetOfTax"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementOfStockholdersEquityAbstract" xlink:label="loc_4HJF4FF74949_us-gaap_StatementOfStockholdersEquityAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_StatementOfStockholdersEquityAbstract" xml:lang="en-US">Statements of Stockholders' Equity [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_StatementOfStockholdersEquityAbstract" xlink:to="lab_6JLH6HH96161_us-gaap_StatementOfStockholdersEquityAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_StatementTable"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_StatementTable" xml:lang="en-US">Statement [Table]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_StatementTable" xml:lang="en-US">Statement [Table]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_StatementTable" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_StatementTable"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="loc_4HJF4FF74949_us-gaap_StatementEquityComponentsAxis"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_StatementEquityComponentsAxis" xml:lang="en-US">Statement, Equity Components [Axis]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_StatementEquityComponentsAxis" xml:lang="en-US">Statement, Equity Components [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_StatementEquityComponentsAxis" xlink:to="lab_6JLH6HH96161_us-gaap_StatementEquityComponentsAxis"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_EquityComponentDomain"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_EquityComponentDomain" xml:lang="en-US">Equity Component [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_EquityComponentDomain" xml:lang="en-US">Equity Component [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_EquityComponentDomain" xml:lang="en-US">Equity Component [Domain]</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AdditionalPaidInCapitalMember" xml:lang="en-US">Additional Paid In Capital [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AdditionalPaidInCapitalMember" xml:lang="en-US">Additional Paid-in Capital</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_RetainedEarningsMember" xml:lang="en-US">Retained Earnings [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_RetainedEarningsMember" xml:lang="en-US">Retained Earnings</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_RetainedEarningsMember" xlink:to="lab_6JLH6HH96161_us-gaap_RetainedEarningsMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_AccumulatedOtherComprehensiveIncomeMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AccumulatedOtherComprehensiveIncomeMember" xml:lang="en-US">Accumulated Other Comprehensive Income [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AccumulatedOtherComprehensiveIncomeMember" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_AccumulatedOtherComprehensiveIncomeMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_4HJF4FF74949_us-gaap_StatementLineItems"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_StatementLineItems" xml:lang="en-US">Statement [Line Items]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_StatementLineItems" xml:lang="en-US">Statement [Line Items]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_StatementLineItems" xlink:to="lab_6JLH6HH96161_us-gaap_StatementLineItems"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SharesIssued" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_SharesIssued"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_SharesIssued" xml:lang="en-US">Shares, Issued</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_SharesIssued" xml:lang="en-US">Balance, shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_SharesIssued" xml:lang="en-US">Beginning balance, shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_SharesIssued" xml:lang="en-US">Ending balance, shares</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_SharesIssued" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_SharesIssued"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalIncomeTaxDeficiencyFromShareBasedCompensation" xlink:label="loc_4HJF4FF74949_us-gaap_AdjustmentsToAdditionalPaidInCapitalIncomeTaxDeficiencyFromShareBasedCompensation"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_AdjustmentsToAdditionalPaidInCapitalIncomeTaxDeficiencyFromShareBasedCompensation" xml:lang="en-US">Adjustments To Additional Paid In Capital, Income Tax Deficiency From Share-Based Compensation</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_AdjustmentsToAdditionalPaidInCapitalIncomeTaxDeficiencyFromShareBasedCompensation" xml:lang="en-US">Tax shortfall from vesting of restricted shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_AdjustmentsToAdditionalPaidInCapitalIncomeTaxDeficiencyFromShareBasedCompensation" xml:lang="en-US">Tax shortfall associated with stock-based compensation arrangements</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_AdjustmentsToAdditionalPaidInCapitalIncomeTaxDeficiencyFromShareBasedCompensation" xlink:to="lab_6JLH6HH96161_us-gaap_AdjustmentsToAdditionalPaidInCapitalIncomeTaxDeficiencyFromShareBasedCompensation"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockRepurchasedDuringPeriodValue" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_StockRepurchasedDuringPeriodValue"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_StockRepurchasedDuringPeriodValue" xml:lang="en-US">Stock Repurchased During Period, Value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_StockRepurchasedDuringPeriodValue" xml:lang="en-US">Repurchase of common stock</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_StockRepurchasedDuringPeriodValue" xml:lang="en-US">Repurchase of common stock</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_StockRepurchasedDuringPeriodValue" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_StockRepurchasedDuringPeriodValue"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockRepurchasedDuringPeriodShares" xlink:label="loc_4HJF4FF74949_us-gaap_StockRepurchasedDuringPeriodShares"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_StockRepurchasedDuringPeriodShares" xml:lang="en-US">Stock Repurchased During Period, Shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_StockRepurchasedDuringPeriodShares" xml:lang="en-US">Repurchase of common stock, shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_StockRepurchasedDuringPeriodShares" xml:lang="en-US">Number of shares repurchased</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_6JLH6HH96161_us-gaap_StockRepurchasedDuringPeriodShares" xml:lang="en-US">Repurchase of common stock, shares</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_StockRepurchasedDuringPeriodShares" xlink:to="lab_6JLH6HH96161_us-gaap_StockRepurchasedDuringPeriodShares"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_StockIssuedDuringPeriodValueRestrictedStockAwardForfeituresAndCancellationsNetOfGrants" xlink:label="loc_F980H3K1JFJG976JFII2_stra_StockIssuedDuringPeriodValueRestrictedStockAwardForfeituresAndCancellationsNetOfGrants"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_StockIssuedDuringPeriodValueRestrictedStockAwardForfeituresAndCancellationsNetOfGrants" xml:lang="en-US">Stock Issued During Period Value Restricted Stock Award Forfeitures And Cancellations Net Of Grants</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_StockIssuedDuringPeriodValueRestrictedStockAwardForfeituresAndCancellationsNetOfGrants" xml:lang="en-US">Restricted stock forfeitures and cancellations, net of grants</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_StockIssuedDuringPeriodValueRestrictedStockAwardForfeituresAndCancellationsNetOfGrants" xml:lang="en-US">Restricted stock forfeitures and cancellations, net of grants, shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_StockIssuedDuringPeriodValueRestrictedStockAwardForfeituresAndCancellationsNetOfGrants" xml:lang="en-US">Value of stock related to Restricted Stock Awards forfeited and cancellations, net of grants during the period.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_StockIssuedDuringPeriodValueRestrictedStockAwardForfeituresAndCancellationsNetOfGrants" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_StockIssuedDuringPeriodValueRestrictedStockAwardForfeituresAndCancellationsNetOfGrants"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_StockIssuedDuringPeriodSharesRestrictedStockAwardForfeituresAndCancellationsNetOfGrants" xlink:label="loc_4HJF4FF74949_stra_StockIssuedDuringPeriodSharesRestrictedStockAwardForfeituresAndCancellationsNetOfGrants"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_StockIssuedDuringPeriodSharesRestrictedStockAwardForfeituresAndCancellationsNetOfGrants" xml:lang="en-US">Stock Issued During Period Shares Restricted Stock Award Forfeitures And Cancellations Net Of Grants</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_stra_StockIssuedDuringPeriodSharesRestrictedStockAwardForfeituresAndCancellationsNetOfGrants" xml:lang="en-US">Restricted stock forfeitures and cancellations, net of grants, shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_StockIssuedDuringPeriodSharesRestrictedStockAwardForfeituresAndCancellationsNetOfGrants" xml:lang="en-US">Number of shares related to Restricted Stock Award forfeited and cancellations, net of grants during the period.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_StockIssuedDuringPeriodSharesRestrictedStockAwardForfeituresAndCancellationsNetOfGrants" xlink:to="lab_6JLH6HH96161_stra_StockIssuedDuringPeriodSharesRestrictedStockAwardForfeituresAndCancellationsNetOfGrants"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures" xml:lang="en-US">Stock Issued During Period, Value, Restricted Stock Award, Net Of Forfeitures</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures" xml:lang="en-US">Restricted stock grants, net of forfeitures</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures" xml:lang="en-US">Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" xlink:label="loc_4HJF4FF74949_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" xml:lang="en-US">Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" xml:lang="en-US">Restricted stock grants, net of forfeitures, shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_6JLH6HH96161_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" xml:lang="en-US">Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" xlink:to="lab_6JLH6HH96161_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xml:lang="en-US">Adjustments To Additional Paid In Capital, Share-Based Compensation, Requisite Service Period Recognition, Value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xml:lang="en-US">Stock-based compensation</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xml:lang="en-US">Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="loc_4HJF4FF74949_us-gaap_StatementOfCashFlowsAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_StatementOfCashFlowsAbstract" xml:lang="en-US">Statements of Cash Flows [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_StatementOfCashFlowsAbstract" xml:lang="en-US">Consolidated Statements of Cash Flows [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_StatementOfCashFlowsAbstract" xlink:to="lab_6JLH6HH96161_us-gaap_StatementOfCashFlowsAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xml:lang="en-US">Net Cash Provided By (Used In) Operating Activities [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xml:lang="en-US">Cash flows from operating activities:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="loc_4HJF4FF74949_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xml:lang="en-US">Adjustments To Reconcile Net Income (Loss) To Cash Provided By (Used In) Operating Activities [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xml:lang="en-US">Adjustments to reconcile net income to net cash provided by operating activities:</label>
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<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_AmortizationOfGainOnSaleOfAssets" xlink:label="loc_F980H3K1JFJG976JFII2_stra_AmortizationOfGainOnSaleOfAssets"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_AmortizationOfGainOnSaleOfAssets" xml:lang="en-US">Amortization Of Gain On Sale Of Assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_AmortizationOfGainOnSaleOfAssets" xml:lang="en-US">Amortization of gain on sale of assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_AmortizationOfGainOnSaleOfAssets" xml:lang="en-US">Amortization of gain on sale of assets.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_AmortizationOfGainOnSaleOfAssets" xml:lang="en-US">Amortization of gain on sale of assets</label>
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<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_AmortizationOfDeferredRent" xlink:label="loc_4HJF4FF74949_stra_AmortizationOfDeferredRent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_AmortizationOfDeferredRent" xml:lang="en-US">Amortization Of Deferred Rent</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_stra_AmortizationOfDeferredRent" xml:lang="en-US">Amortization of deferred rent</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_AmortizationOfDeferredRent" xml:lang="en-US">Represents the amortization of the deferred rent.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_AmortizationOfDeferredRent" xlink:to="lab_6JLH6HH96161_stra_AmortizationOfDeferredRent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AmortizationOfFinancingCosts" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_AmortizationOfFinancingCosts"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AmortizationOfFinancingCosts" xml:lang="en-US">Amortization Of Financing Costs</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AmortizationOfFinancingCosts" xml:lang="en-US">Amortization of deferred financing costs</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_AmortizationOfFinancingCosts" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_AmortizationOfFinancingCosts"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DepreciationAndAmortization" xlink:label="loc_4HJF4FF74949_us-gaap_DepreciationAndAmortization"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_DepreciationAndAmortization" xml:lang="en-US">Depreciation, Depletion and Amortization, Nonproduction</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_DepreciationAndAmortization" xml:lang="en-US">Depreciation and amortization</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_DepreciationAndAmortization" xlink:to="lab_6JLH6HH96161_us-gaap_DepreciationAndAmortization"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_DeferredIncomeTaxExpenseBenefitCashFlowAdjustmentsToNetIncome" xlink:label="loc_F980H3K1JFJG976JFII2_stra_DeferredIncomeTaxExpenseBenefitCashFlowAdjustmentsToNetIncome"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_DeferredIncomeTaxExpenseBenefitCashFlowAdjustmentsToNetIncome" xml:lang="en-US">Deferred Income Tax Expense Benefit Cash Flow Adjustments To Net Income</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_DeferredIncomeTaxExpenseBenefitCashFlowAdjustmentsToNetIncome" xml:lang="en-US">Deferred income taxes</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_DeferredIncomeTaxExpenseBenefitCashFlowAdjustmentsToNetIncome" xml:lang="en-US">Deferred income tax expense benefit cash flow adjustments to net income.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_DeferredIncomeTaxExpenseBenefitCashFlowAdjustmentsToNetIncome" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_DeferredIncomeTaxExpenseBenefitCashFlowAdjustmentsToNetIncome"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="loc_4HJF4FF74949_us-gaap_ShareBasedCompensation"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensation" xml:lang="en-US">Share-Based Compensation</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensation" xml:lang="en-US">Stock-based compensation expense included in operating expense</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensation" xml:lang="en-US">Stock-based compensation</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensation" xml:lang="en-US">Share-based Compensation, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_ShareBasedCompensation" xlink:to="lab_6JLH6HH96161_us-gaap_ShareBasedCompensation"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xml:lang="en-US">Increase (Decrease) In Operating Capital [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xml:lang="en-US">Changes in assets and liabilities:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:label="loc_4HJF4FF74949_us-gaap_IncreaseDecreaseInAccountsReceivable"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_IncreaseDecreaseInAccountsReceivable" xml:lang="en-US">Increase (Decrease) In Accounts Receivable</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_IncreaseDecreaseInAccountsReceivable" xml:lang="en-US">Tuition receivable, net</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_6JLH6HH96161_us-gaap_IncreaseDecreaseInAccountsReceivable" xml:lang="en-US">Tuition receivable, net</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:to="lab_6JLH6HH96161_us-gaap_IncreaseDecreaseInAccountsReceivable"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xml:lang="en-US">Increase (Decrease) In Prepaid, Deferred Expense and Other Assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xml:lang="en-US">Other current assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xml:lang="en-US">Increase (Decrease) in Prepaid, Deferred Expense and Other Assets, Total</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xml:lang="en-US">Other current assets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:label="loc_4HJF4FF74949_us-gaap_IncreaseDecreaseInOtherOperatingAssets"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xml:lang="en-US">Increase (Decrease) in Other Operating Assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xml:lang="en-US">Other assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_6JLH6HH96161_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xml:lang="en-US">Other assets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:to="lab_6JLH6HH96161_us-gaap_IncreaseDecreaseInOtherOperatingAssets"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xml:lang="en-US">Increase (Decrease) In Accounts Payable and Accrued Liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xml:lang="en-US">Accounts payable and accrued expenses</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xml:lang="en-US">Increase (Decrease) in Accounts Payable and Accrued Liabilities, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable" xlink:label="loc_4HJF4FF74949_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable" xml:lang="en-US">Increase (Decrease) In Income Taxes Payable</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable" xml:lang="en-US">Income taxes payable and income taxes receivable</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable" xlink:to="lab_6JLH6HH96161_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInDeferredRevenue" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_IncreaseDecreaseInDeferredRevenue"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_IncreaseDecreaseInDeferredRevenue" xml:lang="en-US">Increase (Decrease) in Deferred Revenue</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_IncreaseDecreaseInDeferredRevenue" xml:lang="en-US">Deferred revenue</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_IncreaseDecreaseInDeferredRevenue" xml:lang="en-US">Unearned tuition</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_IncreaseDecreaseInDeferredRevenue" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_IncreaseDecreaseInDeferredRevenue"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities" xlink:label="loc_4HJF4FF74949_us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities" xml:lang="en-US">Increase (Decrease) In Other Noncurrent Liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities" xml:lang="en-US">Other long-term liabilities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities" xlink:to="lab_6JLH6HH96161_us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_NetCashProvidedByUsedInOperatingActivities"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_NetCashProvidedByUsedInOperatingActivities" xml:lang="en-US">Net Cash Provided By (Used In) Operating Activities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_NetCashProvidedByUsedInOperatingActivities" xml:lang="en-US">Net cash provided by operating activities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_NetCashProvidedByUsedInOperatingActivities" xml:lang="en-US">Net cash provided by operating activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_NetCashProvidedByUsedInOperatingActivities"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:label="loc_4HJF4FF74949_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xml:lang="en-US">Net Cash Provided By (Used In) Investing Activities [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xml:lang="en-US">Cash flows from investing activities:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="lab_6JLH6HH96161_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xml:lang="en-US">Payments To Acquire Property, Plant, and Equipment</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xml:lang="en-US">Purchases of property and equipment</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xml:lang="en-US">Payments to Acquire Property, Plant, and Equipment, Total</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xml:lang="en-US">Purchases of property and equipment</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="loc_4HJF4FF74949_us-gaap_NetCashProvidedByUsedInInvestingActivities"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_NetCashProvidedByUsedInInvestingActivities" xml:lang="en-US">Net Cash Provided By (Used In) Investing Activities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_NetCashProvidedByUsedInInvestingActivities" xml:lang="en-US">Net cash used in investing activities</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xml:lang="en-US">Net Cash Provided By (Used In) Financing Activities [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xml:lang="en-US">Cash flows from financing activities:</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RepaymentsOfLongTermDebt" xlink:label="loc_4HJF4FF74949_us-gaap_RepaymentsOfLongTermDebt"/>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:label="loc_4HJF4FF74949_us-gaap_PaymentsForRepurchaseOfCommonStock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_PaymentsForRepurchaseOfCommonStock" xml:lang="en-US">Payments for Repurchase of Common Stock</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_NetCashProvidedByUsedInFinancingActivities" xml:lang="en-US">Net Cash Provided By (Used In) Financing Activities</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_NetCashProvidedByUsedInFinancingActivities" xml:lang="en-US">Net cash used in financing activities</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:label="loc_4HJF4FF74949_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xml:lang="en-US">Cash and Cash Equivalents, Period Increase (Decrease)</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_6JLH6HH96161_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xml:lang="en-US">Net increase (decrease) in cash and cash equivalents</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="lab_6JLH6HH96161_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xml:lang="en-US">Net (decrease) increase in cash and cash equivalents</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xml:lang="en-US">Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xml:lang="en-US">Non-cash transactions:</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueOfAssetsAcquired" xlink:label="loc_4HJF4FF74949_us-gaap_FairValueOfAssetsAcquired"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_FairValueOfAssetsAcquired" xml:lang="en-US">Fair Value Of Assets Acquired</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_FairValueOfAssetsAcquired" xml:lang="en-US">Purchases of property and equipment included in accounts payable</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_6JLH6HH96161_us-gaap_FairValueOfAssetsAcquired" xml:lang="en-US">Purchases of property and equipment included in accounts payable</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_FairValueOfAssetsAcquired" xlink:to="lab_6JLH6HH96161_us-gaap_FairValueOfAssetsAcquired"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xml:lang="en-US">Nature of Operations [Abstract]</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_NatureOfOperations" xml:lang="en-US">Nature Of Operations [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_NatureOfOperations" xml:lang="en-US">Nature of Operations</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_AccountingPoliciesAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AccountingPoliciesAbstract" xml:lang="en-US">Significant Accounting Policies [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AccountingPoliciesAbstract" xml:lang="en-US">Significant Accounting Policies [Abstract]</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_SignificantAccountingPoliciesTextBlock" xml:lang="en-US">Significant Accounting Policies [Text Block]</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RestructuringAndRelatedActivitiesAbstract" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_RestructuringAndRelatedActivitiesAbstract"/>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock" xml:lang="en-US">Restructuring and Related Charges</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentAbstract" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_PropertyPlantAndEquipmentAbstract"/>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" xlink:label="loc_4HJF4FF74949_us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" xml:lang="en-US">Property, Plant and Equipment Disclosure [Text Block]</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueDisclosuresAbstract" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_FairValueDisclosuresAbstract"/>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtDisclosureAbstract" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_DebtDisclosureAbstract"/>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CompensationAndRetirementDisclosureAbstract" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_CompensationAndRetirementDisclosureAbstract"/>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquityNoteAbstract" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_StockholdersEquityNoteAbstract"/>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_TreasuryStockTextBlock" xml:lang="en-US">Treasury Stock [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_TreasuryStockTextBlock" xml:lang="en-US">Stock Repurchase Plan</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_CommitmentsAndContingenciesDisclosureAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xml:lang="en-US">Commitments and Contingencies and Litigation [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xml:lang="en-US">Litigation [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xml:lang="en-US">Schedule of minimum rental commitments</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:label="loc_4HJF4FF74949_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xml:lang="en-US">Commitments and Contingencies Disclosure [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xml:lang="en-US">Commitments and Contingencies</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxDisclosureAbstract" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_IncomeTaxDisclosureAbstract"/>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_IncomeTaxDisclosureAbstract" xml:lang="en-US">Income Taxes [Abstract]</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_IncomeTaxDisclosureTextBlock" xml:lang="en-US">Income Tax Disclosure [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_IncomeTaxDisclosureTextBlock" xml:lang="en-US">Income Taxes</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_QuarterlyFinancialInformationDisclosureAbstract" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_QuarterlyFinancialInformationDisclosureAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_QuarterlyFinancialInformationDisclosureAbstract" xml:lang="en-US">Summarized Quarterly Financial Data (Unaudited) [Abstract]</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_QuarterlyFinancialInformationTextBlock" xlink:label="loc_4HJF4FF74949_us-gaap_QuarterlyFinancialInformationTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_QuarterlyFinancialInformationTextBlock" xml:lang="en-US">Quarterly Financial Information [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_QuarterlyFinancialInformationTextBlock" xml:lang="en-US">Summarized Quarterly Financial Data (Unaudited)</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LegalMattersAndContingenciesTextBlock" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_LegalMattersAndContingenciesTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LegalMattersAndContingenciesTextBlock" xml:lang="en-US">Legal Matters and Contingencies [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LegalMattersAndContingenciesTextBlock" xml:lang="en-US">Litigation</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_RegulationAbstract" xml:lang="en-US">Regulation [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_stra_RegulationAbstract" xml:lang="en-US">Regulation Abstract</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_RegulationAbstract" xml:lang="en-US">Regulation Abstract</label>
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<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_RegulationDisclosureTextBlock" xlink:label="loc_F980H3K1JFJG976JFII2_stra_RegulationDisclosureTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_RegulationDisclosureTextBlock" xml:lang="en-US">Regulation Disclosure [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_RegulationDisclosureTextBlock" xml:lang="en-US">Regulation</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_RegulationDisclosureTextBlock" xml:lang="en-US">Regulation</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_RegulationDisclosureTextBlock" xml:lang="en-US">Regulation Disclosure.</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_SubsequentEventsAbstract" xml:lang="en-US">Subsequent Event [Abstract]</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_SubsequentEventsTextBlock" xml:lang="en-US">Subsequent Event</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ConsolidationPolicyTextBlock" xml:lang="en-US">Financial statement presentation</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ConsolidationPolicyTextBlock" xml:lang="en-US">Financial statement presentation</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_RevenueRecognitionSalesOfServices" xml:lang="en-US">Revenue Recognition</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_RevenueRecognitionSalesOfServices" xml:lang="en-US">Revenues</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_GraduationFundPolicyTextBlock" xml:lang="en-US">Graduation Fund [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_stra_GraduationFundPolicyTextBlock" xml:lang="en-US">Graduation Fund</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_GraduationFundPolicyTextBlock" xml:lang="en-US">Disclosure of accounting policy regarding graduation fund.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_GraduationFundPolicyTextBlock" xlink:to="lab_6JLH6HH96161_stra_GraduationFundPolicyTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_CashAndCashEquivalentsPolicyTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xml:lang="en-US">Cash and Cash Equivalents, Policy [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xml:lang="en-US">Cash and Cash Equivalents</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_CashAndCashEquivalentsPolicyTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ConcentrationRiskCreditRisk" xlink:label="loc_4HJF4FF74949_us-gaap_ConcentrationRiskCreditRisk"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_ConcentrationRiskCreditRisk" xml:lang="en-US">Concentration Risk, Credit Risk, Policy [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ConcentrationRiskCreditRisk" xml:lang="en-US">Concentration of Credit Risk</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_ConcentrationRiskCreditRisk" xlink:to="lab_6JLH6HH96161_us-gaap_ConcentrationRiskCreditRisk"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xml:lang="en-US">Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xml:lang="en-US">Restricted Cash</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy" xlink:label="loc_4HJF4FF74949_us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy" xml:lang="en-US">Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy" xml:lang="en-US">Tuition Receivable and Allowance for Doubtful Accounts</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy" xlink:to="lab_6JLH6HH96161_us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" xml:lang="en-US">Property, Plant and Equipment, Policy [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" xml:lang="en-US">Property and Equipment</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:label="loc_4HJF4FF74949_us-gaap_FairValueOfFinancialInstrumentsPolicy"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_FairValueOfFinancialInstrumentsPolicy" xml:lang="en-US">Fair Value Of Financial Instruments, Policy [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_FairValueOfFinancialInstrumentsPolicy" xml:lang="en-US">Fair Value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_FairValueOfFinancialInstrumentsPolicy" xml:lang="en-US">Fair Value</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:to="lab_6JLH6HH96161_us-gaap_FairValueOfFinancialInstrumentsPolicy"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock" xml:lang="en-US">Goodwill and Intangible Assets, Policy [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock" xml:lang="en-US">Goodwill and Indefinite-Lived Intangible Assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock" xml:lang="en-US">Goodwill And Indefinite-Lived Intangible Assets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_LongTermLiabilitiesPolicyTextBlock" xlink:label="loc_4HJF4FF74949_stra_LongTermLiabilitiesPolicyTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_LongTermLiabilitiesPolicyTextBlock" xml:lang="en-US">Long Term Liabilities [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_stra_LongTermLiabilitiesPolicyTextBlock" xml:lang="en-US">Long-Term Liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_LongTermLiabilitiesPolicyTextBlock" xml:lang="en-US">Disclosure of accounting policy for long-term liabilities which includes the major components of the long-term liabilities caption in the financial statements.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_LongTermLiabilitiesPolicyTextBlock" xlink:to="lab_6JLH6HH96161_stra_LongTermLiabilitiesPolicyTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativesMethodsOfAccountingHedgingDerivatives" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_DerivativesMethodsOfAccountingHedgingDerivatives"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_DerivativesMethodsOfAccountingHedgingDerivatives" xml:lang="en-US">Derivatives, Methods Of Accounting, Hedging Derivatives [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_DerivativesMethodsOfAccountingHedgingDerivatives" xml:lang="en-US">Accounting for Derivative Instruments and Hedging Activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_DerivativesMethodsOfAccountingHedgingDerivatives" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_DerivativesMethodsOfAccountingHedgingDerivatives"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_AuthorizedStockPolicyTextBlock" xlink:label="loc_4HJF4FF74949_stra_AuthorizedStockPolicyTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_AuthorizedStockPolicyTextBlock" xml:lang="en-US">Authorized Stock [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_stra_AuthorizedStockPolicyTextBlock" xml:lang="en-US">Authorized Stock</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_AuthorizedStockPolicyTextBlock" xml:lang="en-US">Disclosure of accounting policy for authorized stock. Discloses the type and amount of stock that is issued and outstanding.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_AuthorizedStockPolicyTextBlock" xlink:to="lab_6JLH6HH96161_stra_AuthorizedStockPolicyTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AdvertisingCostsPolicyTextBlock" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_AdvertisingCostsPolicyTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AdvertisingCostsPolicyTextBlock" xml:lang="en-US">Advertising Costs, Policy [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AdvertisingCostsPolicyTextBlock" xml:lang="en-US">Advertising Costs</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_AdvertisingCostsPolicyTextBlock" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_AdvertisingCostsPolicyTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:label="loc_4HJF4FF74949_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xml:lang="en-US">Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xml:lang="en-US">Stock-Based Compensation</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:to="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EarningsPerSharePolicyTextBlock" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_EarningsPerSharePolicyTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_EarningsPerSharePolicyTextBlock" xml:lang="en-US">Earnings Per Share, Policy [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_EarningsPerSharePolicyTextBlock" xml:lang="en-US">Net Income Per Share</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_EarningsPerSharePolicyTextBlock" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_EarningsPerSharePolicyTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxPolicyTextBlock" xlink:label="loc_4HJF4FF74949_us-gaap_IncomeTaxPolicyTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_IncomeTaxPolicyTextBlock" xml:lang="en-US">Income Tax, Policy [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_IncomeTaxPolicyTextBlock" xml:lang="en-US">Income Taxes</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_IncomeTaxPolicyTextBlock" xlink:to="lab_6JLH6HH96161_us-gaap_IncomeTaxPolicyTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UseOfEstimates" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_UseOfEstimates"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_UseOfEstimates" xml:lang="en-US">Use of Estimates, Policy [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_UseOfEstimates" xml:lang="en-US">Use of Estimates</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_UseOfEstimates" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_UseOfEstimates"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ComprehensiveIncomePolicyPolicyTextBlock" xlink:label="loc_4HJF4FF74949_us-gaap_ComprehensiveIncomePolicyPolicyTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_ComprehensiveIncomePolicyPolicyTextBlock" xml:lang="en-US">Comprehensive Income, Policy [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ComprehensiveIncomePolicyPolicyTextBlock" xml:lang="en-US">Comprehensive Income</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_ComprehensiveIncomePolicyPolicyTextBlock" xlink:to="lab_6JLH6HH96161_us-gaap_ComprehensiveIncomePolicyPolicyTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xml:lang="en-US">New Accounting Pronouncements, Policy [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xml:lang="en-US">Recent Accounting Pronouncements</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_ScheduleOfGraduationFundLiabilityTableTextBlock" xlink:label="loc_4HJF4FF74949_stra_ScheduleOfGraduationFundLiabilityTableTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_ScheduleOfGraduationFundLiabilityTableTextBlock" xml:lang="en-US">Schedule Of Graduation Fund Liability [Table Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_stra_ScheduleOfGraduationFundLiabilityTableTextBlock" xml:lang="en-US">Schedule of graduation fund liability</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_ScheduleOfGraduationFundLiabilityTableTextBlock" xml:lang="en-US">Tabular disclosure of graduation fund liability.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_ScheduleOfGraduationFundLiabilityTableTextBlock" xlink:to="lab_6JLH6HH96161_stra_ScheduleOfGraduationFundLiabilityTableTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock" xml:lang="en-US">Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock" xml:lang="en-US">Schedule of tuition receivable and allowance for doubtful accounts</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_ScheduleOfAllowanceForDoubtfulAccountsTableTextBlock" xlink:label="loc_4HJF4FF74949_stra_ScheduleOfAllowanceForDoubtfulAccountsTableTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_ScheduleOfAllowanceForDoubtfulAccountsTableTextBlock" xml:lang="en-US">Schedule Of Allowance For Doubtful Accounts [Table Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_stra_ScheduleOfAllowanceForDoubtfulAccountsTableTextBlock" xml:lang="en-US">Schedule of allowance for doubtful accounts</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_ScheduleOfAllowanceForDoubtfulAccountsTableTextBlock" xml:lang="en-US">Tabular disclosure of allowance for doubtful accounts.</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xml:lang="en-US">Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xml:lang="en-US">Reconciliation Of Shares Used To Calculate Basic And Diluted Earnings Per Share</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xml:lang="en-US">Schedule of reconciliation of shares used to calculate basic and diluted earnings per share</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfRestructuringReserveByTypeOfCostTextBlock" xlink:label="loc_4HJF4FF74949_us-gaap_ScheduleOfRestructuringReserveByTypeOfCostTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_ScheduleOfRestructuringReserveByTypeOfCostTextBlock" xml:lang="en-US">Schedule of Restructuring Reserve by Type of Cost [Table Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ScheduleOfRestructuringReserveByTypeOfCostTextBlock" xml:lang="en-US">Schedule of restructuring liability by type of cost</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_ScheduleOfRestructuringReserveByTypeOfCostTextBlock" xlink:to="lab_6JLH6HH96161_us-gaap_ScheduleOfRestructuringReserveByTypeOfCostTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_PropertyPlantAndEquipmentTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_PropertyPlantAndEquipmentTextBlock" xml:lang="en-US">Property, Plant and Equipment [Table Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_PropertyPlantAndEquipmentTextBlock" xml:lang="en-US">Composition of property and equipment</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_PropertyPlantAndEquipmentTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:label="loc_4HJF4FF74949_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xml:lang="en-US">Schedule Of Fair Value, Assets and Liabilities Measured On Recurring Basis [Table Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xml:lang="en-US">Schedule of assets and liabilities measured at fair value on a recurring basis</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xml:lang="en-US">Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:to="lab_6JLH6HH96161_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xml:lang="en-US">Fair Value, Liabilities Measured On Recurring Basis, Unobservable Input Reconciliation [Table Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xml:lang="en-US">Schedule of changes in fair value of level 3 liability</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xml:lang="en-US">Schedule Of Changes In Fair Value Of Level 3 Liability</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock" xlink:label="loc_4HJF4FF74949_us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock" xml:lang="en-US">Schedule Of Nonvested Restricted Stock Units Activity [Table Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock" xml:lang="en-US">Schedule of restricted stock and restricted stock units activity</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock" xlink:to="lab_6JLH6HH96161_us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xml:lang="en-US">Schedule Of Share-Based Compensation, Stock Options, Activity [Table Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xml:lang="en-US">Schedule of stock option activity and other stock option information</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableTableTextBlock" xlink:label="loc_4HJF4FF74949_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableTableTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableTableTextBlock" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable [Table Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableTableTextBlock" xml:lang="en-US">Summary of number of shares exercisable</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableTableTextBlock" xlink:to="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableTableTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xml:lang="en-US">Schedule Of Employee Service Share-Based Compensation, Allocation Of Recognized Period Costs [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xml:lang="en-US">Schedule of stock-based compensation expense</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfCashProceedsReceivedFromShareBasedPaymentAwardsTableTextBlock" xlink:label="loc_4HJF4FF74949_us-gaap_ScheduleOfCashProceedsReceivedFromShareBasedPaymentAwardsTableTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_ScheduleOfCashProceedsReceivedFromShareBasedPaymentAwardsTableTextBlock" xml:lang="en-US">Schedule of Cash Proceeds Received from Share-based Payment Awards [Table Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ScheduleOfCashProceedsReceivedFromShareBasedPaymentAwardsTableTextBlock" xml:lang="en-US">Schedule of information regarding share-based payment arrangements</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_ScheduleOfCashProceedsReceivedFromShareBasedPaymentAwardsTableTextBlock" xlink:to="lab_6JLH6HH96161_us-gaap_ScheduleOfCashProceedsReceivedFromShareBasedPaymentAwardsTableTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherNoncurrentLiabilitiesTableTextBlock" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_OtherNoncurrentLiabilitiesTableTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_OtherNoncurrentLiabilitiesTableTextBlock" xml:lang="en-US">Other Noncurrent Liabilities [Table Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_OtherNoncurrentLiabilitiesTableTextBlock" xml:lang="en-US">Schedule of other long-term liabilities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_OtherNoncurrentLiabilitiesTableTextBlock" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_OtherNoncurrentLiabilitiesTableTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationEmployeeStockPurchasePlanActivityTableTextBlock" xlink:label="loc_4HJF4FF74949_us-gaap_ScheduleOfShareBasedCompensationEmployeeStockPurchasePlanActivityTableTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_ScheduleOfShareBasedCompensationEmployeeStockPurchasePlanActivityTableTextBlock" xml:lang="en-US">Schedule of Share-based Compensation, Employee Stock Purchase Plan, Activity [Table Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ScheduleOfShareBasedCompensationEmployeeStockPurchasePlanActivityTableTextBlock" xml:lang="en-US">Schedule of shares purchased in the open market for employees</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_ScheduleOfShareBasedCompensationEmployeeStockPurchasePlanActivityTableTextBlock" xlink:to="lab_6JLH6HH96161_us-gaap_ScheduleOfShareBasedCompensationEmployeeStockPurchasePlanActivityTableTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfTreasuryStockByClassTextBlock" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_ScheduleOfTreasuryStockByClassTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ScheduleOfTreasuryStockByClassTextBlock" xml:lang="en-US">Class of Treasury Stock [Table Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ScheduleOfTreasuryStockByClassTextBlock" xml:lang="en-US">Schedule of stock repurchase activity</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_ScheduleOfTreasuryStockByClassTextBlock" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_ScheduleOfTreasuryStockByClassTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock" xlink:label="loc_4HJF4FF74949_us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock" xml:lang="en-US">Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock" xml:lang="en-US">Schedule of minimum rental commitments</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock" xlink:to="lab_6JLH6HH96161_us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock" xml:lang="en-US">Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock" xml:lang="en-US">Schedule of income tax provision</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xlink:label="loc_4HJF4FF74949_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xml:lang="en-US">Schedule of Deferred Tax Assets and Liabilities [Table Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xml:lang="en-US">Schedule of tax effects of principal temporary differences that give rise to deferred tax assets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xlink:to="lab_6JLH6HH96161_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SummaryOfIncomeTaxContingenciesTextBlock" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_SummaryOfIncomeTaxContingenciesTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_SummaryOfIncomeTaxContingenciesTextBlock" xml:lang="en-US">Summary of Income Tax Contingencies [Table Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_SummaryOfIncomeTaxContingenciesTextBlock" xml:lang="en-US">Summary of changes in unrecognized tax benefits</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_SummaryOfIncomeTaxContingenciesTextBlock" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_SummaryOfIncomeTaxContingenciesTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock" xlink:label="loc_4HJF4FF74949_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock" xml:lang="en-US">Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock" xml:lang="en-US">Schedule of Quarterly Financial Information [Table Text Block]</label>
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<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NumberOfReportableSegments" xlink:label="loc_4HJF4FF74949_us-gaap_NumberOfReportableSegments"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_NumberOfReportableSegments" xml:lang="en-US">Number Of Reportable Segments</label>
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<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_GraduationFundLiabilityAbstract" xlink:label="loc_F980H3K1JFJG976JFII2_stra_GraduationFundLiabilityAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_GraduationFundLiabilityAbstract" xml:lang="en-US">Graduation Fund Liability [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_GraduationFundLiabilityAbstract" xml:lang="en-US">Schedule of activity in the Graduation Fund</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_GraduationFundLiabilityAbstract" xml:lang="en-US">Graduation Fund Liability [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_GraduationFundLiabilityAbstract" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_GraduationFundLiabilityAbstract"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_GraduationFundLiability" xlink:label="loc_4HJF4FF74949_stra_GraduationFundLiability"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_GraduationFundLiability" xml:lang="en-US">Graduation Fund Liability</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_6JLH6HH96161_stra_GraduationFundLiability" xml:lang="en-US">Balance at beginning of year</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_6JLH6HH96161_stra_GraduationFundLiability" xml:lang="en-US">Balance at end of year</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_GraduationFundLiability" xml:lang="en-US">Carrying amount (including both current and noncurrent portions of the accrual) as of the balance sheet date pertaining to graduation fund liability.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_GraduationFundLiability" xlink:to="lab_6JLH6HH96161_stra_GraduationFundLiability"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_RevenueDeferred" xlink:label="loc_F980H3K1JFJG976JFII2_stra_RevenueDeferred"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_RevenueDeferred" xml:lang="en-US">Revenue Deferred</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_RevenueDeferred" xml:lang="en-US">Revenue deferred</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_RevenueDeferred" xml:lang="en-US">Additional graduation fund liability generated in the current year for services to be performed in the future.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_RevenueDeferred" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_RevenueDeferred"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_BenefitRedeemed" xlink:label="loc_4HJF4FF74949_stra_BenefitRedeemed"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_BenefitRedeemed" xml:lang="en-US">Benefit Redeemed</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_stra_BenefitRedeemed" xml:lang="en-US">Benefit redeemed</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_BenefitRedeemed" xml:lang="en-US">Current year redemptions of graduation fund credits by students.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_BenefitRedeemed" xlink:to="lab_6JLH6HH96161_stra_BenefitRedeemed"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsReceivableNetCurrentAbstract" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_AccountsReceivableNetCurrentAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AccountsReceivableNetCurrentAbstract" xml:lang="en-US">Accounts Receivable, Net, Current [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AccountsReceivableNetCurrentAbstract" xml:lang="en-US">Schedule of tuition receivable and allowance for doubtful accounts</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_AccountsReceivableNetCurrentAbstract" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_AccountsReceivableNetCurrentAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsReceivableGrossCurrent" xlink:label="loc_4HJF4FF74949_us-gaap_AccountsReceivableGrossCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_AccountsReceivableGrossCurrent" xml:lang="en-US">Accounts Receivable, Gross, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_AccountsReceivableGrossCurrent" xml:lang="en-US">Tuition receivable</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_AccountsReceivableGrossCurrent" xlink:to="lab_6JLH6HH96161_us-gaap_AccountsReceivableGrossCurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xml:lang="en-US">Allowance for Doubtful Accounts Receivable, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xml:lang="en-US">Beginning allowance for doubtful accounts</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xml:lang="en-US">Ending allowance for doubtful accounts</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xml:lang="en-US">Allowance for doubtful accounts</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward" xlink:label="loc_4HJF4FF74949_us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward" xml:lang="en-US">Allowance for Doubtful Accounts Receivable [Roll Forward]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward" xml:lang="en-US">Schedule of allowance for doubtful accounts</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward" xlink:to="lab_6JLH6HH96161_us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProvisionForDoubtfulAccounts" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_ProvisionForDoubtfulAccounts"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ProvisionForDoubtfulAccounts" xml:lang="en-US">Provision for Doubtful Accounts</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ProvisionForDoubtfulAccounts" xml:lang="en-US">Additions charged to expense</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_ProvisionForDoubtfulAccounts" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_ProvisionForDoubtfulAccounts"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivableWriteOffs" xlink:label="loc_4HJF4FF74949_us-gaap_AllowanceForDoubtfulAccountsReceivableWriteOffs"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_AllowanceForDoubtfulAccountsReceivableWriteOffs" xml:lang="en-US">Allowance for Doubtful Accounts Receivable, Write-offs</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_AllowanceForDoubtfulAccountsReceivableWriteOffs" xml:lang="en-US">Write-offs, net of recoveries</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_6JLH6HH96161_us-gaap_AllowanceForDoubtfulAccountsReceivableWriteOffs" xml:lang="en-US">Write-offs, net of recoveries</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_AllowanceForDoubtfulAccountsReceivableWriteOffs" xlink:to="lab_6JLH6HH96161_us-gaap_AllowanceForDoubtfulAccountsReceivableWriteOffs"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract" xml:lang="en-US">Weighted Average Number Of Shares Outstanding Reconciliation [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract" xml:lang="en-US">Schedule of reconciliation of shares used to calculate basic and diluted earnings per share</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:label="loc_4HJF4FF74949_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xml:lang="en-US">Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xml:lang="en-US">Incremental shares issuable upon the assumed exercise of stock options</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:to="lab_6JLH6HH96161_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends" xml:lang="en-US">Incremental Common Shares Attributable to Dilutive Effect of Nonvested Shares with Forfeitable Dividends</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends" xml:lang="en-US">Unvested restricted stock and restricted stock units</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:label="loc_4HJF4FF74949_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xml:lang="en-US">Property, Plant and Equipment [Table]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:to="lab_6JLH6HH96161_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RangeAxis" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_RangeAxis"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_RangeAxis" xml:lang="en-US">Range [Axis]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_RangeAxis" xml:lang="en-US">Range [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_RangeAxis" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_RangeAxis"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RangeMember" xlink:label="loc_4HJF4FF74949_us-gaap_RangeMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_RangeMember" xml:lang="en-US">Range [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_RangeMember" xml:lang="en-US">Range [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_RangeMember" xml:lang="en-US">Range [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_RangeMember" xlink:to="lab_6JLH6HH96161_us-gaap_RangeMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MaximumMember" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_MaximumMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_MaximumMember" xml:lang="en-US">Maximum [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_MaximumMember" xml:lang="en-US">Maximum [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_MaximumMember" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_MaximumMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinimumMember" xlink:label="loc_4HJF4FF74949_us-gaap_MinimumMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_MinimumMember" xml:lang="en-US">Minimum [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_MinimumMember" xml:lang="en-US">Minimum [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_MinimumMember" xlink:to="lab_6JLH6HH96161_us-gaap_MinimumMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentLineItems" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_PropertyPlantAndEquipmentLineItems"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_PropertyPlantAndEquipmentLineItems" xml:lang="en-US">Property, Plant and Equipment [Line Items]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_PropertyPlantAndEquipmentLineItems" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_PropertyPlantAndEquipmentLineItems"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_SignificantAccountingPoliciesTextualAbstract" xlink:label="loc_4HJF4FF74949_stra_SignificantAccountingPoliciesTextualAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_SignificantAccountingPoliciesTextualAbstract" xml:lang="en-US">Significant Accounting Policies (Textual) [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_stra_SignificantAccountingPoliciesTextualAbstract" xml:lang="en-US">Significant Accounting Policies (Textual)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_SignificantAccountingPoliciesTextualAbstract" xml:lang="en-US">Significant accounting policies.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_SignificantAccountingPoliciesTextualAbstract" xlink:to="lab_6JLH6HH96161_stra_SignificantAccountingPoliciesTextualAbstract"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_PercentageOfTuitionRevenueInRevenue" xlink:label="loc_F980H3K1JFJG976JFII2_stra_PercentageOfTuitionRevenueInRevenue"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_PercentageOfTuitionRevenueInRevenue" xml:lang="en-US">Percentage Of Tuition Revenue In Revenue</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_PercentageOfTuitionRevenueInRevenue" xml:lang="en-US">Percentage of tuition revenue in total revenue</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_PercentageOfTuitionRevenueInRevenue" xml:lang="en-US">Percentage of tuition revenue in total revenue.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_PercentageOfTuitionRevenueInRevenue" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_PercentageOfTuitionRevenueInRevenue"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_UnusedBooksAndAcademicMaterialRefundablePeriod" xlink:label="loc_4HJF4FF74949_stra_UnusedBooksAndAcademicMaterialRefundablePeriod"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_UnusedBooksAndAcademicMaterialRefundablePeriod" xml:lang="en-US">Unused Books And Academic Material Refundable Period</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_stra_UnusedBooksAndAcademicMaterialRefundablePeriod" xml:lang="en-US">Unused books and academic material refundable period</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_UnusedBooksAndAcademicMaterialRefundablePeriod" xml:lang="en-US">The period to return unused books and related academic materials in order to receive a full refund.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_UnusedBooksAndAcademicMaterialRefundablePeriod" xlink:to="lab_6JLH6HH96161_stra_UnusedBooksAndAcademicMaterialRefundablePeriod"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xml:lang="en-US">Restricted Cash and Cash Equivalents, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xml:lang="en-US">Restricted cash</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsReceivableNetNoncurrent" xlink:label="loc_4HJF4FF74949_us-gaap_AccountsReceivableNetNoncurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_AccountsReceivableNetNoncurrent" xml:lang="en-US">Accounts Receivable, Net, Noncurrent</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_AccountsReceivableNetNoncurrent" xml:lang="en-US">Tuition receivable included in other assets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_AccountsReceivableNetNoncurrent" xlink:to="lab_6JLH6HH96161_us-gaap_AccountsReceivableNetNoncurrent"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_ExpectedCollectionPeriodOfTuitionReceivable" xlink:label="loc_F980H3K1JFJG976JFII2_stra_ExpectedCollectionPeriodOfTuitionReceivable"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_ExpectedCollectionPeriodOfTuitionReceivable" xml:lang="en-US">Expected Collection Period Of Tuition Receivable</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_ExpectedCollectionPeriodOfTuitionReceivable" xml:lang="en-US">Expected collection period of tuition receivable</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_ExpectedCollectionPeriodOfTuitionReceivable" xml:lang="en-US">Expected collection period of tuition receivable.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_ExpectedCollectionPeriodOfTuitionReceivable" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_ExpectedCollectionPeriodOfTuitionReceivable"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsNoncurrent" xlink:label="loc_4HJF4FF74949_us-gaap_RestrictedCashAndCashEquivalentsNoncurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_RestrictedCashAndCashEquivalentsNoncurrent" xml:lang="en-US">Restricted Cash and Cash Equivalents, Noncurrent</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_RestrictedCashAndCashEquivalentsNoncurrent" xml:lang="en-US">Minimum protective endowment</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_RestrictedCashAndCashEquivalentsNoncurrent" xlink:to="lab_6JLH6HH96161_us-gaap_RestrictedCashAndCashEquivalentsNoncurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PreferredStockSharesAuthorized" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_PreferredStockSharesAuthorized"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_PreferredStockSharesAuthorized" xml:lang="en-US">Preferred Stock, Shares Authorized</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_PreferredStockSharesAuthorized" xml:lang="en-US">Preferred stock, shares authorized</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_PreferredStockSharesAuthorized" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_PreferredStockSharesAuthorized"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PreferredStockSharesIssued" xlink:label="loc_4HJF4FF74949_us-gaap_PreferredStockSharesIssued"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_PreferredStockSharesIssued" xml:lang="en-US">Preferred Stock, Shares Issued</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_PreferredStockSharesIssued" xml:lang="en-US">Preferred stock, shares issued</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_6JLH6HH96161_us-gaap_PreferredStockSharesIssued" xml:lang="en-US">Preferred Stock, Shares Issued, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_PreferredStockSharesIssued" xlink:to="lab_6JLH6HH96161_us-gaap_PreferredStockSharesIssued"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PreferredStockSharesOutstanding" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_PreferredStockSharesOutstanding"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_PreferredStockSharesOutstanding" xml:lang="en-US">Preferred Stock, Shares Outstanding</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_PreferredStockSharesOutstanding" xml:lang="en-US">Preferred stock, shares outstanding</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_PreferredStockSharesOutstanding" xml:lang="en-US">Preferred Stock, Shares Outstanding, Beginning Balance</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_PreferredStockSharesOutstanding" xml:lang="en-US">Preferred Stock, Shares Outstanding, Ending Balance</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_PreferredStockSharesOutstanding" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_PreferredStockSharesOutstanding"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxExaminationDescription" xlink:label="loc_4HJF4FF74949_us-gaap_IncomeTaxExaminationDescription"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_IncomeTaxExaminationDescription" xml:lang="en-US">Income Tax Examination, Description</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_IncomeTaxExaminationDescription" xml:lang="en-US">Income tax description</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_IncomeTaxExaminationDescription" xlink:to="lab_6JLH6HH96161_us-gaap_IncomeTaxExaminationDescription"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_EstimatedGraduationFundToBeRedeemedNextTwelveMonths" xlink:label="loc_F980H3K1JFJG976JFII2_stra_EstimatedGraduationFundToBeRedeemedNextTwelveMonths"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_EstimatedGraduationFundToBeRedeemedNextTwelveMonths" xml:lang="en-US">Estimated Graduation Fund To Be Redeemed Next Twelve Months</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_EstimatedGraduationFundToBeRedeemedNextTwelveMonths" xml:lang="en-US">Graduation fund estimated to be redeemed</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_EstimatedGraduationFundToBeRedeemedNextTwelveMonths" xml:lang="en-US">The estimated amount of graduation fund to be redeemed in the next twelve months.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_EstimatedGraduationFundToBeRedeemedNextTwelveMonths" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_EstimatedGraduationFundToBeRedeemedNextTwelveMonths"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_GoodwillAndIntangibleAssetImpairment" xlink:label="loc_4HJF4FF74949_us-gaap_GoodwillAndIntangibleAssetImpairment"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_GoodwillAndIntangibleAssetImpairment" xml:lang="en-US">Goodwill and Intangible Asset Impairment</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_GoodwillAndIntangibleAssetImpairment" xml:lang="en-US">Goodwill and intangible assets impairment</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_GoodwillAndIntangibleAssetImpairment" xlink:to="lab_6JLH6HH96161_us-gaap_GoodwillAndIntangibleAssetImpairment"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_PropertyPlantAndEquipmentUsefulLife"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_PropertyPlantAndEquipmentUsefulLife" xml:lang="en-US">Property, Plant and Equipment, Useful Life</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_PropertyPlantAndEquipmentUsefulLife" xml:lang="en-US">Estimated useful life of property and equipment</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_PropertyPlantAndEquipmentUsefulLife"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill" xlink:label="loc_4HJF4FF74949_us-gaap_ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill" xml:lang="en-US">Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill" xml:lang="en-US">Impairment loss</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill" xlink:to="lab_6JLH6HH96161_us-gaap_ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfRestructuringAndRelatedCostsTable" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_ScheduleOfRestructuringAndRelatedCostsTable"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ScheduleOfRestructuringAndRelatedCostsTable" xml:lang="en-US">Schedule of Restructuring and Related Costs [Table]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_ScheduleOfRestructuringAndRelatedCostsTable" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_ScheduleOfRestructuringAndRelatedCostsTable"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RestructuringCostAndReserveAxis" xlink:label="loc_4HJF4FF74949_us-gaap_RestructuringCostAndReserveAxis"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_RestructuringCostAndReserveAxis" xml:lang="en-US">Restructuring Type [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_RestructuringCostAndReserveAxis" xlink:to="lab_6JLH6HH96161_us-gaap_RestructuringCostAndReserveAxis"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_TypeOfRestructuringDomain" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_TypeOfRestructuringDomain"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_TypeOfRestructuringDomain" xml:lang="en-US">Type of Restructuring [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_TypeOfRestructuringDomain" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_TypeOfRestructuringDomain"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_LeaseAndRelatedCostsMember" xlink:label="loc_4HJF4FF74949_stra_LeaseAndRelatedCostsMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_LeaseAndRelatedCostsMember" xml:lang="en-US">Lease And Related Costs [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_stra_LeaseAndRelatedCostsMember" xml:lang="en-US">Lease and Related Costs, Net [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_stra_LeaseAndRelatedCostsMember" xml:lang="en-US">Lease and Related Costs, Net [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_LeaseAndRelatedCostsMember" xml:lang="en-US">Lease And Related Costs.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_LeaseAndRelatedCostsMember" xlink:to="lab_6JLH6HH96161_stra_LeaseAndRelatedCostsMember"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_SeveranceAndOtheRemployeeSeparationCostsMember" xlink:label="loc_F980H3K1JFJG976JFII2_stra_SeveranceAndOtheRemployeeSeparationCostsMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_SeveranceAndOtheRemployeeSeparationCostsMember" xml:lang="en-US">Severance And Othe Remployee Separation Costs [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_SeveranceAndOtheRemployeeSeparationCostsMember" xml:lang="en-US">Severance and Other Employee Separation Costs [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_SeveranceAndOtheRemployeeSeparationCostsMember" xml:lang="en-US">Severance and other employee separation costs.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_SeveranceAndOtheRemployeeSeparationCostsMember" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_SeveranceAndOtheRemployeeSeparationCostsMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RestructuringCostAndReserveLineItems" xlink:label="loc_4HJF4FF74949_us-gaap_RestructuringCostAndReserveLineItems"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_RestructuringCostAndReserveLineItems" xml:lang="en-US">Restructuring Cost and Reserve [Line Items]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_RestructuringCostAndReserveLineItems" xlink:to="lab_6JLH6HH96161_us-gaap_RestructuringCostAndReserveLineItems"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RestructuringReserveRollForward" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_RestructuringReserveRollForward"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_RestructuringReserveRollForward" xml:lang="en-US">Restructuring Reserve [Roll Forward]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_RestructuringReserveRollForward" xml:lang="en-US">Schedule of restructuring liability</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_RestructuringReserveRollForward" xml:lang="en-US">Schedule of restructuring liability</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_RestructuringReserveRollForward" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_RestructuringReserveRollForward"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RestructuringReserve" xlink:label="loc_4HJF4FF74949_us-gaap_RestructuringReserve"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_RestructuringReserve" xml:lang="en-US">Restructuring Reserve</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_RestructuringReserve" xml:lang="en-US">Restructuring charges gross obligations liability</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_6JLH6HH96161_us-gaap_RestructuringReserve" xml:lang="en-US">Beginning balance</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_6JLH6HH96161_us-gaap_RestructuringReserve" xml:lang="en-US">Ending balance</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_RestructuringReserve" xlink:to="lab_6JLH6HH96161_us-gaap_RestructuringReserve"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RestructuringCharges" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_RestructuringCharges"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_RestructuringCharges" xml:lang="en-US">Restructuring Charges</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_RestructuringCharges" xml:lang="en-US">Restructuring and other charges</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_RestructuringCharges" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_RestructuringCharges"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsForRestructuring" xlink:label="loc_4HJF4FF74949_us-gaap_PaymentsForRestructuring"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_PaymentsForRestructuring" xml:lang="en-US">Payments for Restructuring</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_PaymentsForRestructuring" xml:lang="en-US">Payments</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_PaymentsForRestructuring" xlink:to="lab_6JLH6HH96161_us-gaap_PaymentsForRestructuring"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_RestructruingReserveAccrualAdjustmentsSettledIncurred" xlink:label="loc_F980H3K1JFJG976JFII2_stra_RestructruingReserveAccrualAdjustmentsSettledIncurred"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_RestructruingReserveAccrualAdjustmentsSettledIncurred" xml:lang="en-US">Restructruing Reserve Accrual Adjustments Settled Incurred</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_RestructruingReserveAccrualAdjustmentsSettledIncurred" xml:lang="en-US">Adjustments</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_RestructruingReserveAccrualAdjustmentsSettledIncurred" xml:lang="en-US">Amount and any adjustment to the restructuring reserve (settled) incurred during the period.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_RestructruingReserveAccrualAdjustmentsSettledIncurred" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_RestructruingReserveAccrualAdjustmentsSettledIncurred"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RestructuringReserveCurrent" xlink:label="loc_4HJF4FF74949_us-gaap_RestructuringReserveCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_RestructuringReserveCurrent" xml:lang="en-US">Restructuring Reserve, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_RestructuringReserveCurrent" xml:lang="en-US">Restructuring liabilities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_RestructuringReserveCurrent" xlink:to="lab_6JLH6HH96161_us-gaap_RestructuringReserveCurrent"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_CampusLocationClosed" xlink:label="loc_F980H3K1JFJG976JFII2_stra_CampusLocationClosed"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_CampusLocationClosed" xml:lang="en-US">Campus Location Closed</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_CampusLocationClosed" xml:lang="en-US">Campus location closed</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_CampusLocationClosed" xml:lang="en-US">Campus location closed.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_CampusLocationClosed" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_CampusLocationClosed"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ContractualObligation" xlink:label="loc_4HJF4FF74949_us-gaap_ContractualObligation"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_ContractualObligation" xml:lang="en-US">Contractual Obligation</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ContractualObligation" xml:lang="en-US">Contractual obligation</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_ContractualObligation" xlink:to="lab_6JLH6HH96161_us-gaap_ContractualObligation"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_LeaseTermExpire" xlink:label="loc_F980H3K1JFJG976JFII2_stra_LeaseTermExpire"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_LeaseTermExpire" xml:lang="en-US">Lease Term Expire</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_LeaseTermExpire" xml:lang="en-US">Lease term expire</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_LeaseTermExpire" xml:lang="en-US">The last year for which all current leases will expire.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_LeaseTermExpire" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_LeaseTermExpire"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_MarginalBorrowingRateOfLease" xlink:label="loc_4HJF4FF74949_stra_MarginalBorrowingRateOfLease"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_MarginalBorrowingRateOfLease" xml:lang="en-US">Marginal Borrowing Rate Of Lease</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_stra_MarginalBorrowingRateOfLease" xml:lang="en-US">Lease marginal borrowing rate</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_MarginalBorrowingRateOfLease" xml:lang="en-US">Marginal borrowing rate of lease.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_MarginalBorrowingRateOfLease" xlink:to="lab_6JLH6HH96161_stra_MarginalBorrowingRateOfLease"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_SeveranceAndOtherEmployeeSeparationCosts" xlink:label="loc_F980H3K1JFJG976JFII2_stra_SeveranceAndOtherEmployeeSeparationCosts"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_SeveranceAndOtherEmployeeSeparationCosts" xml:lang="en-US">Severance And Other Employee Separation Costs</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_SeveranceAndOtherEmployeeSeparationCosts" xml:lang="en-US">Severance and other employee separation costs</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_SeveranceAndOtherEmployeeSeparationCosts" xml:lang="en-US">Amount of expenses for special or contractual termination benefits provided to current employees involuntarily terminated under a benefit arrangement associated exit or disposal activities pursuant to an authorized plan. Excludes expenses related to one-time termination benefits, a discontinued operation or an asset retirement obligation.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_SeveranceAndOtherEmployeeSeparationCosts" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_SeveranceAndOtherEmployeeSeparationCosts"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:label="loc_4HJF4FF74949_us-gaap_PropertyPlantAndEquipmentByTypeAxis"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xml:lang="en-US">Property, Plant and Equipment, Type [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:to="lab_6JLH6HH96161_us-gaap_PropertyPlantAndEquipmentByTypeAxis"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_PropertyPlantAndEquipmentTypeDomain"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_PropertyPlantAndEquipmentTypeDomain" xml:lang="en-US">Property, Plant and Equipment, Type [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_PropertyPlantAndEquipmentTypeDomain"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LandMember" xlink:label="loc_4HJF4FF74949_us-gaap_LandMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_LandMember" xml:lang="en-US">Land [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_LandMember" xml:lang="en-US">Land [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_LandMember" xlink:to="lab_6JLH6HH96161_us-gaap_LandMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BuildingAndBuildingImprovementsMember" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_BuildingAndBuildingImprovementsMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_BuildingAndBuildingImprovementsMember" xml:lang="en-US">Building and Building Improvements [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_BuildingAndBuildingImprovementsMember" xml:lang="en-US">Buildings and improvements [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_BuildingAndBuildingImprovementsMember" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_BuildingAndBuildingImprovementsMember"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_FurnitureEquipmentAndComputerHardwareAndSoftwareMember" xlink:label="loc_4HJF4FF74949_stra_FurnitureEquipmentAndComputerHardwareAndSoftwareMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_FurnitureEquipmentAndComputerHardwareAndSoftwareMember" xml:lang="en-US">Furniture Equipment And Computer Hardware And Software [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_stra_FurnitureEquipmentAndComputerHardwareAndSoftwareMember" xml:lang="en-US">Furniture, equipment, and computer hardware and software [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_FurnitureEquipmentAndComputerHardwareAndSoftwareMember" xml:lang="en-US">Furniture, equipment, and computer hardware and software.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_FurnitureEquipmentAndComputerHardwareAndSoftwareMember" xlink:to="lab_6JLH6HH96161_stra_FurnitureEquipmentAndComputerHardwareAndSoftwareMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LeaseholdImprovementsMember" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_LeaseholdImprovementsMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LeaseholdImprovementsMember" xml:lang="en-US">Leasehold Improvements [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LeaseholdImprovementsMember" xml:lang="en-US">Leasehold improvements [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_LeaseholdImprovementsMember" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_LeaseholdImprovementsMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ConstructionInProgressMember" xlink:label="loc_4HJF4FF74949_us-gaap_ConstructionInProgressMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_ConstructionInProgressMember" xml:lang="en-US">Construction in Progress [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ConstructionInProgressMember" xml:lang="en-US">Construction in progress [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_ConstructionInProgressMember" xlink:to="lab_6JLH6HH96161_us-gaap_ConstructionInProgressMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentGross" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_PropertyPlantAndEquipmentGross"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_PropertyPlantAndEquipmentGross" xml:lang="en-US">Property, Plant and Equipment, Gross</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_PropertyPlantAndEquipmentGross" xml:lang="en-US">Property and equipment, gross</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xml:lang="en-US">Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment</label>
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<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_LeaseholdImprovementsReimbursedByLessorsAsLeaseIncentives" xlink:label="loc_F980H3K1JFJG976JFII2_stra_LeaseholdImprovementsReimbursedByLessorsAsLeaseIncentives"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_LeaseholdImprovementsReimbursedByLessorsAsLeaseIncentives" xml:lang="en-US">Leasehold Improvements Reimbursed By Lessors As Lease Incentives</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_LeaseholdImprovementsReimbursedByLessorsAsLeaseIncentives" xml:lang="en-US">Leasehold improvements reimbursed by lessors as lease incentives</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentDisposals" xlink:label="loc_4HJF4FF74949_us-gaap_PropertyPlantAndEquipmentDisposals"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_PropertyPlantAndEquipmentDisposals" xml:lang="en-US">Property, Plant and Equipment, Disposals</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_PropertyPlantAndEquipmentDisposals" xml:lang="en-US">Fixed assets written off</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_PropertyPlantAndEquipmentDisposals" xlink:to="lab_6JLH6HH96161_us-gaap_PropertyPlantAndEquipmentDisposals"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xml:lang="en-US">Fair Value Measurements, Recurring and Nonrecurring [Table]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xml:lang="en-US">Fair Value Measurements, Recurring and Nonrecurring [Table]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:label="loc_4HJF4FF74949_us-gaap_FairValueByFairValueHierarchyLevelAxis"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_FairValueByFairValueHierarchyLevelAxis" xml:lang="en-US">Fair Value, Hierarchy [Axis]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_FairValueByFairValueHierarchyLevelAxis" xml:lang="en-US">Fair Value, Hierarchy [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:to="lab_6JLH6HH96161_us-gaap_FairValueByFairValueHierarchyLevelAxis"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_FairValueMeasurementsFairValueHierarchyDomain"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xml:lang="en-US">Fair Value, Measurements, Fair Value Hierarchy [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xml:lang="en-US">Fair Value, Measurements, Fair Value Hierarchy [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xml:lang="en-US">Fair Value, Measurements, Fair Value Hierarchy [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_FairValueMeasurementsFairValueHierarchyDomain"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueInputsLevel1Member" xlink:label="loc_4HJF4FF74949_us-gaap_FairValueInputsLevel1Member"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_FairValueInputsLevel1Member" xml:lang="en-US">Fair Value, Inputs, Level 1 [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_FairValueInputsLevel1Member" xml:lang="en-US">Quoted Prices In Active Markets For Identical Assets/Liabilities (Level 1) [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_FairValueInputsLevel1Member" xml:lang="en-US">Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1) [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_FairValueInputsLevel1Member" xlink:to="lab_6JLH6HH96161_us-gaap_FairValueInputsLevel1Member"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueInputsLevel2Member" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_FairValueInputsLevel2Member"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_FairValueInputsLevel2Member" xml:lang="en-US">Fair Value, Inputs, Level 2 [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_FairValueInputsLevel2Member" xml:lang="en-US">Significant Other Observable Inputs (Level 2) [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_FairValueInputsLevel2Member" xml:lang="en-US">Significant Other Observable Inputs (Level 2) [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_FairValueInputsLevel2Member" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_FairValueInputsLevel2Member"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueInputsLevel3Member" xlink:label="loc_4HJF4FF74949_us-gaap_FairValueInputsLevel3Member"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_FairValueInputsLevel3Member" xml:lang="en-US">Fair Value, Inputs, Level 3 [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_FairValueInputsLevel3Member" xml:lang="en-US">Significant Unobservable Inputs (Level 3) [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_FairValueInputsLevel3Member" xml:lang="en-US">Significant Unobservable Inputs (Level 3) [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_FairValueInputsLevel3Member" xlink:to="lab_6JLH6HH96161_us-gaap_FairValueInputsLevel3Member"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FinancialInstrumentAxis" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_FinancialInstrumentAxis"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_FinancialInstrumentAxis" xml:lang="en-US">Financial Instrument [Axis]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_FinancialInstrumentAxis" xml:lang="en-US">Financial Instrument [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_FinancialInstrumentAxis" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_FinancialInstrumentAxis"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:label="loc_4HJF4FF74949_us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xml:lang="en-US">Types Of Financial Instruments [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xml:lang="en-US">Types of Financial Instruments [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:to="lab_6JLH6HH96161_us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MoneyMarketFundsMember" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_MoneyMarketFundsMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_MoneyMarketFundsMember" xml:lang="en-US">Money Market Funds [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_MoneyMarketFundsMember" xml:lang="en-US">Money Market Funds [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_MoneyMarketFundsMember" xml:lang="en-US">Money market funds [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_MoneyMarketFundsMember" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_MoneyMarketFundsMember"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_DeferredPaymentsMember" xlink:label="loc_4HJF4FF74949_stra_DeferredPaymentsMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_DeferredPaymentsMember" xml:lang="en-US">Deferred Payments [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_stra_DeferredPaymentsMember" xml:lang="en-US">Deferred payments [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_stra_DeferredPaymentsMember" xml:lang="en-US">Deferred Payments [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_DeferredPaymentsMember" xml:lang="en-US">Deferred payments.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_DeferredPaymentsMember" xlink:to="lab_6JLH6HH96161_stra_DeferredPaymentsMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestRateSwapMember" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_InterestRateSwapMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_InterestRateSwapMember" xml:lang="en-US">Interest Rate Swap [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_InterestRateSwapMember" xml:lang="en-US">Interest Rate Swap [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_InterestRateSwapMember" xml:lang="en-US">Interest rate swaps [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_InterestRateSwapMember" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_InterestRateSwapMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:label="loc_4HJF4FF74949_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xml:lang="en-US">Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xml:lang="en-US">Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:to="lab_6JLH6HH96161_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisAbstract" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisAbstract" xml:lang="en-US">Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisAbstract" xml:lang="en-US">Schedule of assets and liabilities measured at fair value on a recurring basis</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsFairValueDisclosureAbstract" xlink:label="loc_4HJF4FF74949_us-gaap_AssetsFairValueDisclosureAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_AssetsFairValueDisclosureAbstract" xml:lang="en-US">Assets, Fair Value Disclosure [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_AssetsFairValueDisclosureAbstract" xml:lang="en-US">Assets:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_AssetsFairValueDisclosureAbstract" xlink:to="lab_6JLH6HH96161_us-gaap_AssetsFairValueDisclosureAbstract"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_CashEquivalentsFairValueAbstract" xlink:label="loc_F980H3K1JFJG976JFII2_stra_CashEquivalentsFairValueAbstract"/>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_CashEquivalentsFairValueAbstract" xml:lang="en-US">Cash equivalents:</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_CashEquivalentsFairValueAbstract" xml:lang="en-US">Cash equivalents fair value.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_CashEquivalentsFairValueAbstract" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_CashEquivalentsFairValueAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsFairValueDisclosureRecurring" xlink:label="loc_4HJF4FF74949_us-gaap_AssetsFairValueDisclosureRecurring"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_AssetsFairValueDisclosureRecurring" xml:lang="en-US">Assets, Fair Value Disclosure, Recurring</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_AssetsFairValueDisclosureRecurring" xml:lang="en-US">Total assets at fair value on a recurring basis</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_AssetsFairValueDisclosureRecurring" xml:lang="en-US">Total assets at fair value on a recurring basis</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_6JLH6HH96161_us-gaap_AssetsFairValueDisclosureRecurring" xml:lang="en-US">Assets, Fair Value Disclosure, Recurring, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_AssetsFairValueDisclosureRecurring" xlink:to="lab_6JLH6HH96161_us-gaap_AssetsFairValueDisclosureRecurring"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_LiabilitiesFairValueDisclosureAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LiabilitiesFairValueDisclosureAbstract" xml:lang="en-US">Liabilities, Fair Value Disclosure [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LiabilitiesFairValueDisclosureAbstract" xml:lang="en-US">Liabilities:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_LiabilitiesFairValueDisclosureAbstract"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_OtherLiabilitiesFairValueAbstract" xlink:label="loc_4HJF4FF74949_stra_OtherLiabilitiesFairValueAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_OtherLiabilitiesFairValueAbstract" xml:lang="en-US">Other Liabilities Fair Value [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_stra_OtherLiabilitiesFairValueAbstract" xml:lang="en-US">Other long-term liabilities:</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_OtherLiabilitiesFairValueAbstract" xml:lang="en-US">Other liabilities fair value.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_OtherLiabilitiesFairValueAbstract" xlink:to="lab_6JLH6HH96161_stra_OtherLiabilitiesFairValueAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesFairValueDisclosureRecurring" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_LiabilitiesFairValueDisclosureRecurring"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LiabilitiesFairValueDisclosureRecurring" xml:lang="en-US">Liabilities, Fair Value Disclosure, Recurring</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LiabilitiesFairValueDisclosureRecurring" xml:lang="en-US">Total liabilities at fair value on a recurring basis</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_LiabilitiesFairValueDisclosureRecurring" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_LiabilitiesFairValueDisclosureRecurring"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTable" xlink:label="loc_4HJF4FF74949_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTable"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTable" xml:lang="en-US">Fair Value, Liabilities Measured On Recurring Basis, Unobservable Input Reconciliation [Table]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTable" xml:lang="en-US">Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTable" xlink:to="lab_6JLH6HH96161_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTable"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueByLiabilityClassAxis" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_FairValueByLiabilityClassAxis"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_FairValueByLiabilityClassAxis" xml:lang="en-US">Fair Value By Liability Class [Axis]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_FairValueByLiabilityClassAxis" xml:lang="en-US">Fair Value by Liability Class [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_FairValueByLiabilityClassAxis" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_FairValueByLiabilityClassAxis"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain" xlink:label="loc_4HJF4FF74949_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain" xml:lang="en-US">Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation By Liability Class [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain" xml:lang="en-US">Fair Value, Liabilities, Measured on Recurring Basis, Unobservable Input Reconciliation, by Liability Class [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain" xml:lang="en-US">Fair Value, Liabilities, Measured on Recurring Basis, Unobservable Input Reconciliation, by Liability Class [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain" xlink:to="lab_6JLH6HH96161_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xml:lang="en-US">Fair Value, Liabilities Measured On Recurring Basis, Unobservable Input Reconciliation [Line Items]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:label="loc_4HJF4FF74949_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xml:lang="en-US">Fair Value, Liabilities Measured On Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xml:lang="en-US">Schedule of changes in fair value of level 3 liability</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:to="lab_6JLH6HH96161_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xml:lang="en-US">Deferred Payments, Beginning Balance</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xml:lang="en-US">Balance at beginning of year</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xml:lang="en-US">Balance at end of year</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements" xlink:label="loc_4HJF4FF74949_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements" xml:lang="en-US">Fair Value, Measurement With Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements" xml:lang="en-US">Amounts earned</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_6JLH6HH96161_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements" xml:lang="en-US">Amounts earned</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements" xlink:to="lab_6JLH6HH96161_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease" xml:lang="en-US">Fair Value, Measurement With Unobservable Inputs Reconciliation, Recurring Basis, Liability, Period Increase (Decrease)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease" xml:lang="en-US">Adjustments to fair value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Period Increase (Decrease), Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeInstrumentRiskAxis" xlink:label="loc_4HJF4FF74949_us-gaap_DerivativeInstrumentRiskAxis"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_DerivativeInstrumentRiskAxis" xml:lang="en-US">Derivative Instrument [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_DerivativeInstrumentRiskAxis" xlink:to="lab_6JLH6HH96161_us-gaap_DerivativeInstrumentRiskAxis"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativeContractTypeDomain" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_DerivativeContractTypeDomain"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_DerivativeContractTypeDomain" xml:lang="en-US">Derivative Contract [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_DerivativeContractTypeDomain" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_DerivativeContractTypeDomain"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_FairValueMeasurementTextualAbstract" xlink:label="loc_4HJF4FF74949_stra_FairValueMeasurementTextualAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_FairValueMeasurementTextualAbstract" xml:lang="en-US">Fair Value Measurement (Textual) [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_stra_FairValueMeasurementTextualAbstract" xml:lang="en-US">Fair Value Measurement (Textual)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_FairValueMeasurementTextualAbstract" xlink:to="lab_6JLH6HH96161_stra_FairValueMeasurementTextualAbstract"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_DeferredPaymentArrangementNumberOfSellers" xlink:label="loc_F980H3K1JFJG976JFII2_stra_DeferredPaymentArrangementNumberOfSellers"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_DeferredPaymentArrangementNumberOfSellers" xml:lang="en-US">Deferred Payment Arrangement Number Of Sellers</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_DeferredPaymentArrangementNumberOfSellers" xml:lang="en-US">Deferred payment arrangement number of sellers</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_DeferredPaymentArrangementNumberOfSellers" xml:lang="en-US">Represents the number of sellers with which the entity has entered into deferred payment arrangements.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_DeferredPaymentArrangementNumberOfSellers" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_DeferredPaymentArrangementNumberOfSellers"/>
<loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd#invest_DerivativeNotionalAmount" xlink:label="loc_4HJF4FF74949_invest_DerivativeNotionalAmount"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_invest_DerivativeNotionalAmount" xml:lang="en-US">Derivative, Notional Amount</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_invest_DerivativeNotionalAmount" xml:lang="en-US">Interest rate swap, notional amount</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_invest_DerivativeNotionalAmount" xlink:to="lab_6JLH6HH96161_invest_DerivativeNotionalAmount"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermDebt" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_LongTermDebt"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LongTermDebt" xml:lang="en-US">Long-term Debt</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LongTermDebt" xml:lang="en-US">Carrying value of the debt</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_LongTermDebt" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_LongTermDebt"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentTable" xlink:label="loc_4HJF4FF74949_us-gaap_DebtInstrumentTable"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_DebtInstrumentTable" xml:lang="en-US">Schedule of Long-term Debt Instruments [Table]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_DebtInstrumentTable" xml:lang="en-US">Schedule of Long-term Debt Instruments [Table]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_DebtInstrumentTable" xlink:to="lab_6JLH6HH96161_us-gaap_DebtInstrumentTable"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentAxis" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_DebtInstrumentAxis"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_DebtInstrumentAxis" xml:lang="en-US">Debt Instrument [Axis]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_DebtInstrumentAxis" xml:lang="en-US">Debt Instrument [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_DebtInstrumentAxis" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_DebtInstrumentAxis"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_4HJF4FF74949_us-gaap_DebtInstrumentNameDomain"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_DebtInstrumentNameDomain" xml:lang="en-US">Debt Instrument, Name [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_DebtInstrumentNameDomain" xml:lang="en-US">Debt Instrument, Name [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_DebtInstrumentNameDomain" xml:lang="en-US">Debt Instrument, Name [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_DebtInstrumentNameDomain" xlink:to="lab_6JLH6HH96161_us-gaap_DebtInstrumentNameDomain"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RevolvingCreditFacilityMember" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_RevolvingCreditFacilityMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_RevolvingCreditFacilityMember" xml:lang="en-US">Revolving Credit Facility [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_RevolvingCreditFacilityMember" xml:lang="en-US">Revolving Credit Facility [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_RevolvingCreditFacilityMember" xml:lang="en-US">Revolving credit facility [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_RevolvingCreditFacilityMember" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_RevolvingCreditFacilityMember"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_TermLoanFacilityMember" xlink:label="loc_4HJF4FF74949_stra_TermLoanFacilityMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_TermLoanFacilityMember" xml:lang="en-US">Term Loan Facility [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_TermLoanFacilityMember" xlink:to="lab_6JLH6HH96161_stra_TermLoanFacilityMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityAxis" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_LineOfCreditFacilityAxis"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LineOfCreditFacilityAxis" xml:lang="en-US">Line Of Credit Facility [Axis]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LineOfCreditFacilityAxis" xml:lang="en-US">Line of Credit Facility [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_LineOfCreditFacilityAxis" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_LineOfCreditFacilityAxis"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityLenderDomain" xlink:label="loc_4HJF4FF74949_us-gaap_LineOfCreditFacilityLenderDomain"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_LineOfCreditFacilityLenderDomain" xml:lang="en-US">Line Of Credit Facility Lender [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_LineOfCreditFacilityLenderDomain" xml:lang="en-US">Line of Credit Facility, Lender [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_LineOfCreditFacilityLenderDomain" xml:lang="en-US">Line of Credit Facility, Lender [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_LineOfCreditFacilityLenderDomain" xlink:to="lab_6JLH6HH96161_us-gaap_LineOfCreditFacilityLenderDomain"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LetterOfCreditMember" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_LetterOfCreditMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LetterOfCreditMember" xml:lang="en-US">Letter Of Credit [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LetterOfCreditMember" xml:lang="en-US">Letter of Credit [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_LetterOfCreditMember" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_LetterOfCreditMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LondonInterbankOfferedRateLIBORMember" xlink:label="loc_4HJF4FF74949_us-gaap_LondonInterbankOfferedRateLIBORMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_LondonInterbankOfferedRateLIBORMember" xml:lang="en-US">London Interbank Offered Rate (LIBOR) [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_LondonInterbankOfferedRateLIBORMember" xml:lang="en-US">London Interbank Offered Rate (LIBOR) [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_LondonInterbankOfferedRateLIBORMember" xlink:to="lab_6JLH6HH96161_us-gaap_LondonInterbankOfferedRateLIBORMember"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_PriorCreditAgreementMember" xlink:label="loc_F980H3K1JFJG976JFII2_stra_PriorCreditAgreementMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_PriorCreditAgreementMember" xml:lang="en-US">Prior Credit Agreement [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_PriorCreditAgreementMember" xml:lang="en-US">Prior Credit Agreement [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_PriorCreditAgreementMember" xml:lang="en-US">Prior credit agreement.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_PriorCreditAgreementMember" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_PriorCreditAgreementMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableRateAxis" xlink:label="loc_4HJF4FF74949_us-gaap_VariableRateAxis"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_VariableRateAxis" xml:lang="en-US">Variable Rate [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_VariableRateAxis" xlink:to="lab_6JLH6HH96161_us-gaap_VariableRateAxis"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableRateDomain" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_VariableRateDomain"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_VariableRateDomain" xml:lang="en-US">Variable Rate [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_VariableRateDomain" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_VariableRateDomain"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BaseRateMember" xlink:label="loc_4HJF4FF74949_us-gaap_BaseRateMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_BaseRateMember" xml:lang="en-US">Base Rate [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_BaseRateMember" xml:lang="en-US">Base Rate [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_BaseRateMember" xlink:to="lab_6JLH6HH96161_us-gaap_BaseRateMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentLineItems" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_DebtInstrumentLineItems"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_DebtInstrumentLineItems" xml:lang="en-US">Debt Instrument [Line Items]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_DebtInstrumentLineItems" xml:lang="en-US">Debt Instrument [Line Items]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_DebtInstrumentLineItems" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_DebtInstrumentLineItems"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_LongTermDebtTextualAbstract" xlink:label="loc_4HJF4FF74949_stra_LongTermDebtTextualAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_LongTermDebtTextualAbstract" xml:lang="en-US">Long Term Debt Textual [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_stra_LongTermDebtTextualAbstract" xml:lang="en-US">Long Term Debt (Textual)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_LongTermDebtTextualAbstract" xlink:to="lab_6JLH6HH96161_stra_LongTermDebtTextualAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xml:lang="en-US">Line of Credit Facility, Maximum Borrowing Capacity</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xml:lang="en-US">Revolving credit facility, value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xml:lang="en-US">Maximum borrowing on credit facility</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_MaximumAggregateIncrementalTermLoans" xlink:label="loc_4HJF4FF74949_stra_MaximumAggregateIncrementalTermLoans"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_MaximumAggregateIncrementalTermLoans" xml:lang="en-US">Maximum Aggregate Incremental Term Loans</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_stra_MaximumAggregateIncrementalTermLoans" xml:lang="en-US">Maximum aggregate incremental term loans</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_MaximumAggregateIncrementalTermLoans" xml:lang="en-US">The maximum value of the option to increase the commitments under the revolver or establish one or more incremental term loans.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_MaximumAggregateIncrementalTermLoans" xlink:to="lab_6JLH6HH96161_stra_MaximumAggregateIncrementalTermLoans"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityExpirationDate1" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_LineOfCreditFacilityExpirationDate1"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LineOfCreditFacilityExpirationDate1" xml:lang="en-US">Line of Credit Facility, Expiration Date</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LineOfCreditFacilityExpirationDate1" xml:lang="en-US">Maturity date</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LineOfCreditFacilityExpirationDate1" xml:lang="en-US">Maturity date</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_LineOfCreditFacilityExpirationDate1" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_LineOfCreditFacilityExpirationDate1"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:label="loc_4HJF4FF74949_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xml:lang="en-US">Debt Instrument, Basis Spread on Variable Rate</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xml:lang="en-US">Margin rate for interest if using base rate</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xml:lang="en-US">Previous Margin rate for interest if using base rate</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:to="lab_6JLH6HH96161_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage" xml:lang="en-US">Line of Credit Facility, Unused Capacity, Commitment Fee Percentage</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage" xml:lang="en-US">Unused commitment fee</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage" xml:lang="en-US">Unused commitment fee</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestPaid" xlink:label="loc_4HJF4FF74949_us-gaap_InterestPaid"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_InterestPaid" xml:lang="en-US">Interest Paid</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_InterestPaid" xml:lang="en-US">Cash interest paid</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_6JLH6HH96161_us-gaap_InterestPaid" xml:lang="en-US">Interest Paid, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_InterestPaid" xlink:to="lab_6JLH6HH96161_us-gaap_InterestPaid"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityCovenantTerms" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_LineOfCreditFacilityCovenantTerms"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LineOfCreditFacilityCovenantTerms" xml:lang="en-US">Line of Credit Facility, Covenant Terms</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LineOfCreditFacilityCovenantTerms" xml:lang="en-US">Covenant terms required by credit facility</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_LineOfCreditFacilityCovenantTerms" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_LineOfCreditFacilityCovenantTerms"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityInterestRateDescription" xlink:label="loc_4HJF4FF74949_us-gaap_LineOfCreditFacilityInterestRateDescription"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_LineOfCreditFacilityInterestRateDescription" xml:lang="en-US">Line of Credit Facility, Interest Rate Description</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_LineOfCreditFacilityInterestRateDescription" xml:lang="en-US">Interest rate description</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_LineOfCreditFacilityInterestRateDescription" xlink:to="lab_6JLH6HH96161_us-gaap_LineOfCreditFacilityInterestRateDescription"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_MaximumLeverageRatioToBeMaintainedUnderCreditFacility" xlink:label="loc_F980H3K1JFJG976JFII2_stra_MaximumLeverageRatioToBeMaintainedUnderCreditFacility"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_MaximumLeverageRatioToBeMaintainedUnderCreditFacility" xml:lang="en-US">Maximum Leverage Ratio To Be Maintained Under Credit Facility</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_MaximumLeverageRatioToBeMaintainedUnderCreditFacility" xml:lang="en-US">Maximum total leverage ratio</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_MaximumLeverageRatioToBeMaintainedUnderCreditFacility" xml:lang="en-US">Maximum leverage ratio to be maintained under credit facility.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_MaximumLeverageRatioToBeMaintainedUnderCreditFacility" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_MaximumLeverageRatioToBeMaintainedUnderCreditFacility"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_MinimumCoverageRatioToBeMaintainedUnderCreditFacility" xlink:label="loc_4HJF4FF74949_stra_MinimumCoverageRatioToBeMaintainedUnderCreditFacility"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_MinimumCoverageRatioToBeMaintainedUnderCreditFacility" xml:lang="en-US">Minimum Coverage Ratio To Be Maintained Under Credit Facility</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_stra_MinimumCoverageRatioToBeMaintainedUnderCreditFacility" xml:lang="en-US">Minimum coverage ratio</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_MinimumCoverageRatioToBeMaintainedUnderCreditFacility" xml:lang="en-US">Minimum coverage ratio to be maintained under credit facility.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_MinimumCoverageRatioToBeMaintainedUnderCreditFacility" xlink:to="lab_6JLH6HH96161_stra_MinimumCoverageRatioToBeMaintainedUnderCreditFacility"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_MinimumDepartmentOfEducationFinancialCompositeScoreToBeMaintainedUnderCreditFacility" xlink:label="loc_F980H3K1JFJG976JFII2_stra_MinimumDepartmentOfEducationFinancialCompositeScoreToBeMaintainedUnderCreditFacility"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_MinimumDepartmentOfEducationFinancialCompositeScoreToBeMaintainedUnderCreditFacility" xml:lang="en-US">Minimum Department Of Education Financial Composite Score To Be Maintained Under Credit Facility</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_MinimumDepartmentOfEducationFinancialCompositeScoreToBeMaintainedUnderCreditFacility" xml:lang="en-US">Minimum department of education financial composite score</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_MinimumDepartmentOfEducationFinancialCompositeScoreToBeMaintainedUnderCreditFacility" xml:lang="en-US">Minimum Department of Education Financial Composite Score</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_MinimumDepartmentOfEducationFinancialCompositeScoreToBeMaintainedUnderCreditFacility" xml:lang="en-US">Minimum department of education financial composite score to be maintained under credit facility.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_MinimumDepartmentOfEducationFinancialCompositeScoreToBeMaintainedUnderCreditFacility" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_MinimumDepartmentOfEducationFinancialCompositeScoreToBeMaintainedUnderCreditFacility"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentDescriptionOfVariableRateBasis" xlink:label="loc_4HJF4FF74949_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis" xml:lang="en-US">Debt Instrument, Description of Variable Rate Basis</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis" xml:lang="en-US">Debt instrument description of variable rate basis</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis" xlink:to="lab_6JLH6HH96161_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCredit" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_LineOfCredit"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LineOfCredit" xml:lang="en-US">Long-term Line of Credit</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_LineOfCredit" xml:lang="en-US">Revolving credit facility, outstanding</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_LineOfCredit" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_LineOfCredit"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsOfDebtIssuanceCosts" xlink:label="loc_4HJF4FF74949_us-gaap_PaymentsOfDebtIssuanceCosts"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_PaymentsOfDebtIssuanceCosts" xml:lang="en-US">Payments of Debt Issuance Costs</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_PaymentsOfDebtIssuanceCosts" xml:lang="en-US">Payments of debt financing costs</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_PaymentsOfDebtIssuanceCosts" xlink:to="lab_6JLH6HH96161_us-gaap_PaymentsOfDebtIssuanceCosts"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentInterestRateDuringPeriod" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_DebtInstrumentInterestRateDuringPeriod"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_DebtInstrumentInterestRateDuringPeriod" xml:lang="en-US">Debt Instrument, Interest Rate During Period</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_DebtInstrumentInterestRateDuringPeriod" xml:lang="en-US">Average annual interest rate</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_DebtInstrumentInterestRateDuringPeriod" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_DebtInstrumentInterestRateDuringPeriod"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentInterestRateEffectivePercentageRateRangeMinimum" xlink:label="loc_4HJF4FF74949_us-gaap_DebtInstrumentInterestRateEffectivePercentageRateRangeMinimum"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_DebtInstrumentInterestRateEffectivePercentageRateRangeMinimum" xml:lang="en-US">Debt Instrument, Interest Rate, Effective Percentage Rate Range, Minimum</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_DebtInstrumentInterestRateEffectivePercentageRateRangeMinimum" xml:lang="en-US">Interest rate swap, fixed rate minimum</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_DebtInstrumentInterestRateEffectivePercentageRateRangeMinimum" xlink:to="lab_6JLH6HH96161_us-gaap_DebtInstrumentInterestRateEffectivePercentageRateRangeMinimum"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentInterestRateEffectivePercentageRateRangeMaximum" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_DebtInstrumentInterestRateEffectivePercentageRateRangeMaximum"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_DebtInstrumentInterestRateEffectivePercentageRateRangeMaximum" xml:lang="en-US">Debt Instrument, Interest Rate, Effective Percentage Rate Range, Maximum</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_DebtInstrumentInterestRateEffectivePercentageRateRangeMaximum" xml:lang="en-US">Interest rate swap, fixed rate maximum</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_DebtInstrumentInterestRateEffectivePercentageRateRangeMaximum" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_DebtInstrumentInterestRateEffectivePercentageRateRangeMaximum"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:label="loc_4HJF4FF74949_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xml:lang="en-US">Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Table]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xml:lang="en-US">Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Table]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:to="lab_6JLH6HH96161_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AwardTypeAxis" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_AwardTypeAxis"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AwardTypeAxis" xml:lang="en-US">Award Type [Axis]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AwardTypeAxis" xml:lang="en-US">Award Type [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_AwardTypeAxis" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_AwardTypeAxis"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="loc_4HJF4FF74949_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xml:lang="en-US">Equity Award [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xml:lang="en-US">Share-based Compensation Arrangements by Share-based Payment Award, Award Type and Plan Name [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xml:lang="en-US">Share-based Compensation Arrangements by Share-based Payment Award, Award Type and Plan Name [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:to="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RestrictedStockMember" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_RestrictedStockMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_RestrictedStockMember" xml:lang="en-US">Restricted Stock [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_RestrictedStockMember" xml:lang="en-US">Restricted stock and restricted stock units [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_RestrictedStockMember" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_RestrictedStockMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:label="loc_4HJF4FF74949_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Nonvested, Number Of Shares [Roll Forward]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xml:lang="en-US">Schedule of restricted stock and restricted stock units activity</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:label="loc_4HJF4FF74949_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xml:lang="en-US">Beginning Balance, Number of shares or units</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xml:lang="en-US">Ending Balance, Number of shares or units</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:to="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Grants In Period</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xml:lang="en-US">Number of shares granted</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xml:lang="en-US">Grants, Number of shares or units</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:label="loc_4HJF4FF74949_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xml:lang="en-US">Vested, Number of shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xml:lang="en-US">Vested shares, Number of shares or units</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:to="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Forfeited In Period</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xml:lang="en-US">Forfeitures, Number of shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xml:lang="en-US">Forfeitures, Number of shares or units</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:label="loc_4HJF4FF74949_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xml:lang="en-US">Beginning Balance, Weighted-average grant price</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xml:lang="en-US">Ending Balance, Weighted-average grant price</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:to="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Grants In Period, Weighted Average Grant Date Fair Value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xml:lang="en-US">Stock price of restricted stock grants</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xml:lang="en-US">Grants, Weighted-average grant price</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_4HJF4FF74949_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Vested In Period, Weighted Average Grant Date Fair Value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xml:lang="en-US">Vested shares, Weighted-average grant price</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:to="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Forfeitures, Weighted Average Grant Date Fair Value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xml:lang="en-US">Forfeitures, Weighted-average grant price</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xml:lang="en-US">Forfeitures, Weighted-average grant price</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeStockOptionMember" xlink:label="loc_4HJF4FF74949_us-gaap_EmployeeStockOptionMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_EmployeeStockOptionMember" xml:lang="en-US">Employee Stock Option [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_EmployeeStockOptionMember" xml:lang="en-US">Stock options [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_EmployeeStockOptionMember" xlink:to="lab_6JLH6HH96161_us-gaap_EmployeeStockOptionMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Outstanding [Roll Forward]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" xml:lang="en-US">Schedule of stock option activity and other stock option information</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:label="loc_4HJF4FF74949_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xml:lang="en-US">Beginning Balance, Number of shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xml:lang="en-US">Ending Balance, Number of shares</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:to="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xml:lang="en-US">Grants, Number of shares</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:label="loc_4HJF4FF74949_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xml:lang="en-US">Exercises, Number of shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xml:lang="en-US">Stock options exercised</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:to="lab_6JLH6HH96161_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Forfeitures In Period</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" xml:lang="en-US">Forfeitures, Number of shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" xml:lang="en-US">Forfeitures/Expirations, Number of shares</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xlink:label="loc_4HJF4FF74949_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xml:lang="en-US">Exercisable, Number of shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xml:lang="en-US">Exercisable, Number of shares</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xlink:to="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xml:lang="en-US">Beginning Balance, Weighted-average exercise price</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xml:lang="en-US">Ending Balance, Weighted-average exercise price</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:label="loc_4HJF4FF74949_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xml:lang="en-US">Share-Based Compensation Arrangements By Share-Based Payment Award, Options, Grants In Period, Weighted Average Exercise Price</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xml:lang="en-US">Grants, Weighted-average exercise price</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:to="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xml:lang="en-US">Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xml:lang="en-US">Exercises, Weighted-average exercise price</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice" xlink:label="loc_4HJF4FF74949_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice" xml:lang="en-US">Share-Based Compensation Arrangements By Share-Based Payment Award, Options, Forfeitures In Period, Weighted Average Exercise Price</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice" xml:lang="en-US">Forfeitures/Expirations, Weighted-average exercise price</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice" xlink:to="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xml:lang="en-US">Beginning Balance, Weighted-average exercise price</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xml:lang="en-US">Beginning Balance, Weighted-average exercise price</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xml:lang="en-US">Exercisable, Weighted-average exercise price</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/definitionGuidance" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xml:lang="en-US">Exercisable, Weighted-average exercise price</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" xlink:label="loc_4HJF4FF74949_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" xml:lang="en-US">Weighted-average remaining contractual life (years)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" xlink:to="lab_6JLH6HH96161_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" xml:lang="en-US">Exercisable, Weighted-average remaining contractual life (years)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" xml:lang="en-US">Exercisable, Weighted-average remaining contractual life (yrs.)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xlink:label="loc_4HJF4FF74949_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xml:lang="en-US">Beginning Balance, Aggregate intrinsic value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xml:lang="en-US">Ending Balance, Aggregate intrinsic value</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xlink:to="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1" xml:lang="en-US">Exercisable, Aggregate intrinsic value</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeStockMember" xlink:label="loc_4HJF4FF74949_us-gaap_EmployeeStockMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_EmployeeStockMember" xml:lang="en-US">Employee Stock [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_EmployeeStockMember" xlink:to="lab_6JLH6HH96161_us-gaap_EmployeeStockMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable" xml:lang="en-US">Schedule Of Employee Service Share-Based Compensation, Allocation Of Recognized Period Costs [Table]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable" xml:lang="en-US">Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeStatementLocationAxis" xlink:label="loc_4HJF4FF74949_us-gaap_IncomeStatementLocationAxis"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_IncomeStatementLocationAxis" xml:lang="en-US">Income Statement Location [Axis]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_IncomeStatementLocationAxis" xml:lang="en-US">Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs, by Report Line [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_IncomeStatementLocationAxis" xlink:to="lab_6JLH6HH96161_us-gaap_IncomeStatementLocationAxis"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeStatementLocationDomain" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_IncomeStatementLocationDomain"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_IncomeStatementLocationDomain" xml:lang="en-US">Income Statement Location [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_IncomeStatementLocationDomain" xml:lang="en-US">Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Report Line [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_IncomeStatementLocationDomain" xml:lang="en-US">Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Report Line [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_IncomeStatementLocationDomain" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_IncomeStatementLocationDomain"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_InstructionAndEducationalSupportMember" xlink:label="loc_4HJF4FF74949_stra_InstructionAndEducationalSupportMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_InstructionAndEducationalSupportMember" xml:lang="en-US">Instruction and Educational Support [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_stra_InstructionAndEducationalSupportMember" xml:lang="en-US">Instruction and educational support [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_InstructionAndEducationalSupportMember" xml:lang="en-US">Instruction and educational support.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_InstructionAndEducationalSupportMember" xlink:to="lab_6JLH6HH96161_stra_InstructionAndEducationalSupportMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SellingAndMarketingExpenseMember" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_SellingAndMarketingExpenseMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_SellingAndMarketingExpenseMember" xml:lang="en-US">Selling and Marketing Expense [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_SellingAndMarketingExpenseMember" xml:lang="en-US">Marketing [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_SellingAndMarketingExpenseMember" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_SellingAndMarketingExpenseMember"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_AdmissionsAdvisoryMember" xlink:label="loc_4HJF4FF74949_stra_AdmissionsAdvisoryMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_AdmissionsAdvisoryMember" xml:lang="en-US">Admissions Advisory [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_stra_AdmissionsAdvisoryMember" xml:lang="en-US">Admissions advisory [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_AdmissionsAdvisoryMember" xml:lang="en-US">Admissions advisory.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_AdmissionsAdvisoryMember" xlink:to="lab_6JLH6HH96161_stra_AdmissionsAdvisoryMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_GeneralAndAdministrativeExpenseMember" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_GeneralAndAdministrativeExpenseMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_GeneralAndAdministrativeExpenseMember" xml:lang="en-US">General and Administrative Expense [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_GeneralAndAdministrativeExpenseMember" xml:lang="en-US">General and administration [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_GeneralAndAdministrativeExpenseMember" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_GeneralAndAdministrativeExpenseMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsLineItems" xlink:label="loc_4HJF4FF74949_us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsLineItems"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsLineItems" xml:lang="en-US">Employee Service Share-Based Compensation, Allocation Of Recognized Period Costs [Line Items]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsLineItems" xml:lang="en-US">Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsLineItems" xlink:to="lab_6JLH6HH96161_us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsLineItems"/>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_EmployeeServiceShareBasedCompensationAggregateDisclosuresAbstract" xml:lang="en-US">Employee Service Share-Based Compensation, Aggregate Disclosures [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_EmployeeServiceShareBasedCompensationAggregateDisclosuresAbstract" xml:lang="en-US">Schedule of stock-based compensation expense</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_EmployeeServiceShareBasedCompensationAggregateDisclosuresAbstract" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_EmployeeServiceShareBasedCompensationAggregateDisclosuresAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense" xlink:label="loc_4HJF4FF74949_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense" xml:lang="en-US">Employee Service Share-Based Compensation, Tax Benefit From Compensation Expense</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense" xml:lang="en-US">Excess tax benefits (shortfall) related to share-based payment arrangements</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense" xml:lang="en-US">Tax benefit</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense" xlink:to="lab_6JLH6HH96161_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax" xml:lang="en-US">Allocated Share-Based Compensation Expense, Net Of Tax</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax" xml:lang="en-US">Stock-based compensation expense, net of income tax</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax" xml:lang="en-US">Stock-based compensation expense, net of income tax</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xlink:label="loc_4HJF4FF74949_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xml:lang="en-US">Schedule of information regarding share-based payment arrangements</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract" xlink:to="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromStockOptionsExercised" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_ProceedsFromStockOptionsExercised"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ProceedsFromStockOptionsExercised" xml:lang="en-US">Proceeds from Stock Options Exercised</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ProceedsFromStockOptionsExercised" xml:lang="en-US">Proceeds from stock options exercised</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_ProceedsFromStockOptionsExercised" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_ProceedsFromStockOptionsExercised"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_ExcessTaxBenefitsShortfallRelatedToShareBasedPaymentArrangements" xlink:label="loc_4HJF4FF74949_stra_ExcessTaxBenefitsShortfallRelatedToShareBasedPaymentArrangements"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_ExcessTaxBenefitsShortfallRelatedToShareBasedPaymentArrangements" xml:lang="en-US">Excess Tax Benefits Shortfall Related To Share Based Payment Arrangements</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_stra_ExcessTaxBenefitsShortfallRelatedToShareBasedPaymentArrangements" xml:lang="en-US">Tax shortfall related to share-based payment arrangements</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_stra_ExcessTaxBenefitsShortfallRelatedToShareBasedPaymentArrangements" xml:lang="en-US">Tax shortfall related to share-based payments</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_ExcessTaxBenefitsShortfallRelatedToShareBasedPaymentArrangements" xml:lang="en-US">Excess tax shortfall resulting from increases in the entity's income taxes that arise when compensation cost (from non-qualified share-based compensation) recognized on the entity's tax return does not exceed compensation cot from equity based compensation recognized in financial statements. Excess tax benefits resulting from decreases in the entity's income taxes that arise when compensation cost (from non-qualified share-based compensation) recognized on the entity's tax return exceeds compensation cost from equity-based compensation recognized in financial statements.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_ExcessTaxBenefitsShortfallRelatedToShareBasedPaymentArrangements" xlink:to="lab_6JLH6HH96161_stra_ExcessTaxBenefitsShortfallRelatedToShareBasedPaymentArrangements"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" xml:lang="en-US">Intrinsic value of stock options exercised</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="loc_4HJF4FF74949_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xml:lang="en-US">Related Party [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:to="lab_6JLH6HH96161_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_RelatedPartyDomain"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_RelatedPartyDomain" xml:lang="en-US">Related Party [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_RelatedPartyDomain" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_RelatedPartyDomain"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BoardOfDirectorsChairmanMember" xlink:label="loc_4HJF4FF74949_us-gaap_BoardOfDirectorsChairmanMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_BoardOfDirectorsChairmanMember" xml:lang="en-US">Board of Directors Chairman [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_BoardOfDirectorsChairmanMember" xml:lang="en-US">Board of Directors [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_BoardOfDirectorsChairmanMember" xlink:to="lab_6JLH6HH96161_us-gaap_BoardOfDirectorsChairmanMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VestingAxis" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_VestingAxis"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_VestingAxis" xml:lang="en-US">Vesting [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_VestingAxis" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_VestingAxis"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VestingDomain" xlink:label="loc_4HJF4FF74949_us-gaap_VestingDomain"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_VestingDomain" xml:lang="en-US">Vesting [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_VestingDomain" xlink:to="lab_6JLH6HH96161_us-gaap_VestingDomain"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_VestingPeriodMember" xlink:label="loc_F980H3K1JFJG976JFII2_stra_VestingPeriodMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_VestingPeriodMember" xml:lang="en-US">Vesting Period [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_VestingPeriodMember" xml:lang="en-US">Vesting over three years [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_VestingPeriodMember" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_VestingPeriodMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized" xlink:label="loc_4HJF4FF74949_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized" xml:lang="en-US">Additional shares authorized for grants</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized" xlink:to="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xml:lang="en-US">Shares authorized for grants</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" xlink:label="loc_4HJF4FF74949_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" xml:lang="en-US">Vesting percentage</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" xlink:to="lab_6JLH6HH96161_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate" xlink:label="loc_F980H3K1JFJG976JFII2_stra_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate" xml:lang="en-US">Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Date</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate" xml:lang="en-US">Vesting date</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate" xml:lang="en-US">Share based compensation arrangement by share based payment award award vesting date.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_ClosingPriceOfStockOnDateOfStockGrant" xlink:label="loc_4HJF4FF74949_stra_ClosingPriceOfStockOnDateOfStockGrant"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_ClosingPriceOfStockOnDateOfStockGrant" xml:lang="en-US">Closing Price Of Stock On Date Of Stock Grant</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_stra_ClosingPriceOfStockOnDateOfStockGrant" xml:lang="en-US">Closing price of stock on date of stock grant</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_ClosingPriceOfStockOnDateOfStockGrant" xml:lang="en-US">Closing price of stock on date of stock grant.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_ClosingPriceOfStockOnDateOfStockGrant" xlink:to="lab_6JLH6HH96161_stra_ClosingPriceOfStockOnDateOfStockGrant"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_MaximumTermOfAwardsGrantedUnderPlan" xlink:label="loc_F980H3K1JFJG976JFII2_stra_MaximumTermOfAwardsGrantedUnderPlan"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_MaximumTermOfAwardsGrantedUnderPlan" xml:lang="en-US">Maximum Term Of Awards Granted Under Plan</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_MaximumTermOfAwardsGrantedUnderPlan" xml:lang="en-US">Maximum term of the awards granted under the Plan</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_MaximumTermOfAwardsGrantedUnderPlan" xml:lang="en-US">Maximum term of the awards granted under the plan.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_MaximumTermOfAwardsGrantedUnderPlan" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_MaximumTermOfAwardsGrantedUnderPlan"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:label="loc_4HJF4FF74949_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xml:lang="en-US">Employee Service Share-Based Compensation, Nonvested Awards, Total Compensation Cost Not Yet Recognized</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xml:lang="en-US">Stock-based compensation cost which has not yet been recognized</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:to="lab_6JLH6HH96161_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xml:lang="en-US">Employee Service Share-Based Compensation, Nonvested Awards, Total Compensation Cost Not Yet Recognized, Period For Recognition</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xml:lang="en-US">Stock-based compensation cost recognized period, in months</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xml:lang="en-US">Stock-based compensation cost recognized period, in months</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_RestrictedStockAwardSubjectToPerformanceCondition" xlink:label="loc_4HJF4FF74949_stra_RestrictedStockAwardSubjectToPerformanceCondition"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_RestrictedStockAwardSubjectToPerformanceCondition" xml:lang="en-US">Restricted Stock Award Subject To Performance Condition</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_stra_RestrictedStockAwardSubjectToPerformanceCondition" xml:lang="en-US">Restricted stock awarded subject to performance condition</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_RestrictedStockAwardSubjectToPerformanceCondition" xml:lang="en-US">Restricted stock awarded subject to performance condition.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_RestrictedStockAwardSubjectToPerformanceCondition" xlink:to="lab_6JLH6HH96161_stra_RestrictedStockAwardSubjectToPerformanceCondition"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_LossOnFacilitiesNotInUse" xlink:label="loc_F980H3K1JFJG976JFII2_stra_LossOnFacilitiesNotInUse"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_LossOnFacilitiesNotInUse" xml:lang="en-US">Loss on facilities not in use</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_LossOnFacilitiesNotInUse" xml:lang="en-US">Represents loss on facilities not in use.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_LossOnFacilitiesNotInUse" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_LossOnFacilitiesNotInUse"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredRevenueNoncurrent" xlink:label="loc_4HJF4FF74949_us-gaap_DeferredRevenueNoncurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_DeferredRevenueNoncurrent" xml:lang="en-US">Deferred Revenue, Noncurrent</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_DeferredRevenueNoncurrent" xml:lang="en-US">Deferred revenue, net of current portion</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_DeferredRevenueNoncurrent" xlink:to="lab_6JLH6HH96161_us-gaap_DeferredRevenueNoncurrent"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_DeferredRentAndOtherFacilityCostsNonCurrent" xlink:label="loc_F980H3K1JFJG976JFII2_stra_DeferredRentAndOtherFacilityCostsNonCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_DeferredRentAndOtherFacilityCostsNonCurrent" xml:lang="en-US">Deferred Rent And Other Facility Costs Non Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_DeferredRentAndOtherFacilityCostsNonCurrent" xml:lang="en-US">Deferred rent and other facility costs</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_DeferredRentAndOtherFacilityCostsNonCurrent" xml:lang="en-US">Represents non-current deferred rent and other facility costs.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_DeferredRentAndOtherFacilityCostsNonCurrent" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_DeferredRentAndOtherFacilityCostsNonCurrent"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_DeferredAcquisitionPaymentsNonCurrent" xlink:label="loc_4HJF4FF74949_stra_DeferredAcquisitionPaymentsNonCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_DeferredAcquisitionPaymentsNonCurrent" xml:lang="en-US">Deferred Acquisition Payments Non Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_stra_DeferredAcquisitionPaymentsNonCurrent" xml:lang="en-US">Deferred payments related to acquisition</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_DeferredAcquisitionPaymentsNonCurrent" xml:lang="en-US">Represents non-current deferred payments related to acquisitions.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_DeferredAcquisitionPaymentsNonCurrent" xlink:to="lab_6JLH6HH96161_stra_DeferredAcquisitionPaymentsNonCurrent"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_LeaseIncentivePayableNonCurrent" xlink:label="loc_F980H3K1JFJG976JFII2_stra_LeaseIncentivePayableNonCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_LeaseIncentivePayableNonCurrent" xml:lang="en-US">Lease Incentive Payable Non Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_LeaseIncentivePayableNonCurrent" xml:lang="en-US">Lease incentives</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_LeaseIncentivePayableNonCurrent" xml:lang="en-US">Represents non-current lease incentive payable.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_LeaseIncentivePayableNonCurrent" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_LeaseIncentivePayableNonCurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredGainOnSaleOfProperty" xlink:label="loc_4HJF4FF74949_us-gaap_DeferredGainOnSaleOfProperty"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_DeferredGainOnSaleOfProperty" xml:lang="en-US">Deferred Gain On Sale Of Property</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_DeferredGainOnSaleOfProperty" xml:lang="en-US">Deferred gain on sale of campus building</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_DeferredGainOnSaleOfProperty" xlink:to="lab_6JLH6HH96161_us-gaap_DeferredGainOnSaleOfProperty"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_ScheduleOfOtherLongTermLiabilitiesTable" xlink:label="loc_F980H3K1JFJG976JFII2_stra_ScheduleOfOtherLongTermLiabilitiesTable"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_ScheduleOfOtherLongTermLiabilitiesTable" xml:lang="en-US">Schedule Of Other Long Term Liabilities [Table]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_ScheduleOfOtherLongTermLiabilitiesTable" xml:lang="en-US">Schedule Of Other Long Term Liabilities [Table]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_ScheduleOfOtherLongTermLiabilitiesTable" xml:lang="en-US">Schedule of other long term liabilities.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_ScheduleOfOtherLongTermLiabilitiesTable" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_ScheduleOfOtherLongTermLiabilitiesTable"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_OtherLongTermLiabilitiesLineItems" xlink:label="loc_4HJF4FF74949_stra_OtherLongTermLiabilitiesLineItems"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_OtherLongTermLiabilitiesLineItems" xml:lang="en-US">Other Long Term Liabilities [Line Items]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_stra_OtherLongTermLiabilitiesLineItems" xml:lang="en-US">Other Long Term Liabilities [Line Items]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_OtherLongTermLiabilitiesLineItems" xml:lang="en-US">Other long term liabilities.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_OtherLongTermLiabilitiesLineItems" xlink:to="lab_6JLH6HH96161_stra_OtherLongTermLiabilitiesLineItems"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_OtherLongTermLiabilitiesTextualAbstract" xlink:label="loc_F980H3K1JFJG976JFII2_stra_OtherLongTermLiabilitiesTextualAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_OtherLongTermLiabilitiesTextualAbstract" xml:lang="en-US">Other Long Term Liabilities (Textual) [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_OtherLongTermLiabilitiesTextualAbstract" xml:lang="en-US">Other Long -Term Liabilities (Textual)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_OtherLongTermLiabilitiesTextualAbstract" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_OtherLongTermLiabilitiesTextualAbstract"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_LeaseholdImprovementsLongTermLiabilityAmortizationPeriod" xlink:label="loc_4HJF4FF74949_stra_LeaseholdImprovementsLongTermLiabilityAmortizationPeriod"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_LeaseholdImprovementsLongTermLiabilityAmortizationPeriod" xml:lang="en-US">Leasehold Improvements Long Term Liability Amortization Period</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_stra_LeaseholdImprovementsLongTermLiabilityAmortizationPeriod" xml:lang="en-US">Leasehold improvements, long-term liability amortization period</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_stra_LeaseholdImprovementsLongTermLiabilityAmortizationPeriod" xml:lang="en-US">Leasehold improvements and long-term liability amortization period</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_LeaseholdImprovementsLongTermLiabilityAmortizationPeriod" xml:lang="en-US">Leasehold improvements, long term liability amortization period.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_LeaseholdImprovementsLongTermLiabilityAmortizationPeriod" xlink:to="lab_6JLH6HH96161_stra_LeaseholdImprovementsLongTermLiabilityAmortizationPeriod"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SaleLeasebackTransactionGrossProceedsInvestingActivities" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_SaleLeasebackTransactionGrossProceedsInvestingActivities"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_SaleLeasebackTransactionGrossProceedsInvestingActivities" xml:lang="en-US">Sale Leaseback Transaction, Gross Proceeds, Investing Activities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_SaleLeasebackTransactionGrossProceedsInvestingActivities" xml:lang="en-US">Sale price of one of campus buildings</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_SaleLeasebackTransactionGrossProceedsInvestingActivities" xml:lang="en-US">Sale and lease back of Loudoun, Virginia campus building, sale price</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_SaleLeasebackTransactionGrossProceedsInvestingActivities" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_SaleLeasebackTransactionGrossProceedsInvestingActivities"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SaleLeasebackTransactionLeaseTerms" xlink:label="loc_4HJF4FF74949_us-gaap_SaleLeasebackTransactionLeaseTerms"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_SaleLeasebackTransactionLeaseTerms" xml:lang="en-US">Sale Leaseback Transaction, Lease Terms</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_SaleLeasebackTransactionLeaseTerms" xml:lang="en-US">Sale and lease back term for most of the campus building</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_SaleLeasebackTransactionLeaseTerms" xlink:to="lab_6JLH6HH96161_us-gaap_SaleLeasebackTransactionLeaseTerms"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SaleLeasebackTransactionDeferredGainGross" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_SaleLeasebackTransactionDeferredGainGross"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_SaleLeasebackTransactionDeferredGainGross" xml:lang="en-US">Sale Leaseback Transaction, Deferred Gain, Gross</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_SaleLeasebackTransactionDeferredGainGross" xml:lang="en-US">Gain on sale and lease back of one of campus buildings before tax</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_SaleLeasebackTransactionDeferredGainGross" xml:lang="en-US">Gain on sale and lease back of one of campus buildings before tax</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_SaleLeasebackTransactionDeferredGainGross" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_SaleLeasebackTransactionDeferredGainGross"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_FundsReceivedFromInvestor" xlink:label="loc_4HJF4FF74949_stra_FundsReceivedFromInvestor"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_FundsReceivedFromInvestor" xml:lang="en-US">Funds Received From Investor</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_stra_FundsReceivedFromInvestor" xml:lang="en-US">Funds received from investor</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_FundsReceivedFromInvestor" xml:lang="en-US">Seller's contribution to the Company representing the seller's continuing interest in the assets acquired.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_FundsReceivedFromInvestor" xlink:to="lab_6JLH6HH96161_stra_FundsReceivedFromInvestor"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_SaleLeaseBackTransactionLeaseTermOne" xlink:label="loc_F980H3K1JFJG976JFII2_stra_SaleLeaseBackTransactionLeaseTermOne"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_SaleLeaseBackTransactionLeaseTermOne" xml:lang="en-US">Sale Lease Back Transaction Lease Term One</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_SaleLeaseBackTransactionLeaseTermOne" xml:lang="en-US">Sale and lease back term</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_SaleLeaseBackTransactionLeaseTermOne" xml:lang="en-US">Represents the lease term of the asset leased back in a sale and lease back transaction.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_SaleLeaseBackTransactionLeaseTermOne" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_SaleLeaseBackTransactionLeaseTermOne"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_SaleLeaseBackTransactionNumberOfAssetsSold" xlink:label="loc_4HJF4FF74949_stra_SaleLeaseBackTransactionNumberOfAssetsSold"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_SaleLeaseBackTransactionNumberOfAssetsSold" xml:lang="en-US">Sale Lease Back Transaction Number Of Assets Sold</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_stra_SaleLeaseBackTransactionNumberOfAssetsSold" xml:lang="en-US">Number of assets sold</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_SaleLeaseBackTransactionNumberOfAssetsSold" xml:lang="en-US">Represents the number of assets sold in a sale lease back transaction.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_SaleLeaseBackTransactionNumberOfAssetsSold" xlink:to="lab_6JLH6HH96161_stra_SaleLeaseBackTransactionNumberOfAssetsSold"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_DeferredPaymentArrangementValue" xlink:label="loc_F980H3K1JFJG976JFII2_stra_DeferredPaymentArrangementValue"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_DeferredPaymentArrangementValue" xml:lang="en-US">Deferred Payment Arrangement Value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_DeferredPaymentArrangementValue" xml:lang="en-US">Deferred payment arrangements value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_DeferredPaymentArrangementValue" xml:lang="en-US">The value of the deferred payment arrangement with one of the sellers in connection with an acquisition.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_DeferredPaymentArrangementValue" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_DeferredPaymentArrangementValue"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesPurchasedForAward" xlink:label="loc_4HJF4FF74949_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesPurchasedForAward"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesPurchasedForAward" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Shares Purchased for Award</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesPurchasedForAward" xml:lang="en-US">Shares purchased</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesPurchasedForAward" xlink:to="lab_6JLH6HH96161_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesPurchasedForAward"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Per Share Weighted Average Price of Shares Purchased</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased" xml:lang="en-US">Average price per share</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeeAmount" xlink:label="loc_4HJF4FF74949_us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeeAmount"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeeAmount" xml:lang="en-US">Defined Contribution Plan, Maximum Annual Contributions Per Employee, Amount</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeeAmount" xml:lang="en-US">Maximum annual contribution to 401(k) plan by employees, effective January 1, 2016</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeeAmount" xlink:to="lab_6JLH6HH96161_us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeeAmount"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedContributionPlanEmployerMatchingContributionPercentOfMatch" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercentOfMatch"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercentOfMatch" xml:lang="en-US">Defined Contribution Plan, Employer Matching Contribution, Percent of Match</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercentOfMatch" xml:lang="en-US">Percentage of company matching contribution to 401(K) plan</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercentOfMatch" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercentOfMatch"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent" xlink:label="loc_4HJF4FF74949_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent" xml:lang="en-US">Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent" xml:lang="en-US">Defined contribution plan employer matching contribution percent</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent" xlink:to="lab_6JLH6HH96161_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount" xml:lang="en-US">Defined Contribution Plan, Employer Discretionary Contribution Amount</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount" xml:lang="en-US">Company's contributions to 401(K) plan</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_EmployeeStockPurchasePlanPercentageOfPurchasePriceFromMarketValue" xlink:label="loc_4HJF4FF74949_stra_EmployeeStockPurchasePlanPercentageOfPurchasePriceFromMarketValue"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_EmployeeStockPurchasePlanPercentageOfPurchasePriceFromMarketValue" xml:lang="en-US">Employee Stock Purchase Plan Percentage Of Purchase Price From Market Value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_stra_EmployeeStockPurchasePlanPercentageOfPurchasePriceFromMarketValue" xml:lang="en-US">Common stock shares purchase price limit for employees as percentage of market value under Employee Stock Purchase Plan</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_EmployeeStockPurchasePlanPercentageOfPurchasePriceFromMarketValue" xml:lang="en-US">Employee stock purchase plan, percentage of purchase price from market value.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_EmployeeStockPurchasePlanPercentageOfPurchasePriceFromMarketValue" xlink:to="lab_6JLH6HH96161_stra_EmployeeStockPurchasePlanPercentageOfPurchasePriceFromMarketValue"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_EmployeeStockPurchasePlanMaximumPercentageOfPurchaseEmployeeCanMakeOnEligibleCompensation" xlink:label="loc_F980H3K1JFJG976JFII2_stra_EmployeeStockPurchasePlanMaximumPercentageOfPurchaseEmployeeCanMakeOnEligibleCompensation"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_EmployeeStockPurchasePlanMaximumPercentageOfPurchaseEmployeeCanMakeOnEligibleCompensation" xml:lang="en-US">Employee Stock Purchase Plan Maximum Percentage Of Purchase Employee Can Make On Eligible Compensation</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_EmployeeStockPurchasePlanMaximumPercentageOfPurchaseEmployeeCanMakeOnEligibleCompensation" xml:lang="en-US">Employee stock purchase plan maximum percentage of purchase employee can make on eligible compensation</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_EmployeeStockPurchasePlanMaximumPercentageOfPurchaseEmployeeCanMakeOnEligibleCompensation" xml:lang="en-US">Employee stock purchase plan, maximum percentage of purchase an employee can make on eligible compensation.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_EmployeeStockPurchasePlanMaximumPercentageOfPurchaseEmployeeCanMakeOnEligibleCompensation" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_EmployeeStockPurchasePlanMaximumPercentageOfPurchaseEmployeeCanMakeOnEligibleCompensation"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_MaximumNumberOfSharesMadeAvailableForPurchaseByParticipatingEmployeesUnderEmployeeStockPurchasePlan" xlink:label="loc_4HJF4FF74949_stra_MaximumNumberOfSharesMadeAvailableForPurchaseByParticipatingEmployeesUnderEmployeeStockPurchasePlan"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_MaximumNumberOfSharesMadeAvailableForPurchaseByParticipatingEmployeesUnderEmployeeStockPurchasePlan" xml:lang="en-US">Maximum Number Of Shares Made Available For Purchase By Participating Employees Under Employee Stock Purchase Plan</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_stra_MaximumNumberOfSharesMadeAvailableForPurchaseByParticipatingEmployeesUnderEmployeeStockPurchasePlan" xml:lang="en-US">Maximum number of shares available for purchase by participating employees</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_MaximumNumberOfSharesMadeAvailableForPurchaseByParticipatingEmployeesUnderEmployeeStockPurchasePlan" xml:lang="en-US">Maximum number of shares made available for purchase by participating employees under employee stock purchase plan.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_MaximumNumberOfSharesMadeAvailableForPurchaseByParticipatingEmployeesUnderEmployeeStockPurchasePlan" xlink:to="lab_6JLH6HH96161_stra_MaximumNumberOfSharesMadeAvailableForPurchaseByParticipatingEmployeesUnderEmployeeStockPurchasePlan"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ClassOfTreasuryStockTable" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_ClassOfTreasuryStockTable"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ClassOfTreasuryStockTable" xml:lang="en-US">Class of Treasury Stock [Table]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_ClassOfTreasuryStockTable" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_ClassOfTreasuryStockTable"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareRepurchaseProgramAxis" xlink:label="loc_4HJF4FF74949_us-gaap_ShareRepurchaseProgramAxis"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_ShareRepurchaseProgramAxis" xml:lang="en-US">Share Repurchase Program [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_ShareRepurchaseProgramAxis" xlink:to="lab_6JLH6HH96161_us-gaap_ShareRepurchaseProgramAxis"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareRepurchaseProgramDomain" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_ShareRepurchaseProgramDomain"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareRepurchaseProgramDomain" xml:lang="en-US">Share Repurchase Program [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_ShareRepurchaseProgramDomain" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_ShareRepurchaseProgramDomain"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_StockRepurchasePlanMember" xlink:label="loc_4HJF4FF74949_stra_StockRepurchasePlanMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_StockRepurchasePlanMember" xml:lang="en-US">Stock Repurchase Plan [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_stra_StockRepurchasePlanMember" xml:lang="en-US">Stock repurchase plan [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_StockRepurchasePlanMember" xml:lang="en-US">Stock Repurchase Plan [Member].</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_StockRepurchasePlanMember" xlink:to="lab_6JLH6HH96161_stra_StockRepurchasePlanMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityClassOfTreasuryStockLineItems" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_EquityClassOfTreasuryStockLineItems"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_EquityClassOfTreasuryStockLineItems" xml:lang="en-US">Equity, Class of Treasury Stock [Line Items]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_EquityClassOfTreasuryStockLineItems" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_EquityClassOfTreasuryStockLineItems"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_SummaryOfStockRepurchaseActivityAbstract" xlink:label="loc_4HJF4FF74949_stra_SummaryOfStockRepurchaseActivityAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_SummaryOfStockRepurchaseActivityAbstract" xml:lang="en-US">Summary Of Stock Repurchase Activity [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_SummaryOfStockRepurchaseActivityAbstract" xlink:to="lab_6JLH6HH96161_stra_SummaryOfStockRepurchaseActivityAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_TreasuryStockAcquiredAverageCostPerShare" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_TreasuryStockAcquiredAverageCostPerShare"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_TreasuryStockAcquiredAverageCostPerShare" xml:lang="en-US">Treasury Stock Acquired, Average Cost Per Share</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_TreasuryStockAcquiredAverageCostPerShare" xml:lang="en-US">Average price paid per share</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_TreasuryStockAcquiredAverageCostPerShare" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_TreasuryStockAcquiredAverageCostPerShare"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1" xlink:label="loc_4HJF4FF74949_us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1" xml:lang="en-US">Stock Repurchase Program, Remaining Authorized Repurchase Amount</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1" xml:lang="en-US">Remaining authorized share for repurchases, amount</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1" xml:lang="en-US">Amount available for future repurchases</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1" xlink:to="lab_6JLH6HH96161_us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_StockRepurchasePlanDetailsTextualAbstract" xlink:label="loc_F980H3K1JFJG976JFII2_stra_StockRepurchasePlanDetailsTextualAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_StockRepurchasePlanDetailsTextualAbstract" xml:lang="en-US">Stock Repurchase Plan Details Textual [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_StockRepurchasePlanDetailsTextualAbstract" xml:lang="en-US">Stock repurchase plan (Details Textual)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_StockRepurchasePlanDetailsTextualAbstract" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_StockRepurchasePlanDetailsTextualAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockRepurchaseProgramAuthorizedAmount1" xlink:label="loc_4HJF4FF74949_us-gaap_StockRepurchaseProgramAuthorizedAmount1"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_StockRepurchaseProgramAuthorizedAmount1" xml:lang="en-US">Stock Repurchase Program, Authorized Amount</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_StockRepurchaseProgramAuthorizedAmount1" xml:lang="en-US">Authorized common stock for repurchases, amount</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_StockRepurchaseProgramAuthorizedAmount1" xlink:to="lab_6JLH6HH96161_us-gaap_StockRepurchaseProgramAuthorizedAmount1"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract" xml:lang="en-US">Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract" xml:lang="en-US">Schedule of minimum rental commitments</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:label="loc_4HJF4FF74949_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xml:lang="en-US">Operating Leases, Future Minimum Payments Due, Next Twelve Months</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xml:lang="en-US">2016</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:to="lab_6JLH6HH96161_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xml:lang="en-US">Operating Leases, Future Minimum Payments, Due in Two Years</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xml:lang="en-US">2017</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xlink:label="loc_4HJF4FF74949_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xml:lang="en-US">Operating Leases, Future Minimum Payments, Due in Three Years</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xml:lang="en-US">2018</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xlink:to="lab_6JLH6HH96161_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xml:lang="en-US">Operating Leases, Future Minimum Payments, Due in Four Years</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xml:lang="en-US">2019</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" xlink:label="loc_4HJF4FF74949_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" xml:lang="en-US">Operating Leases, Future Minimum Payments, Due in Five Years</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" xml:lang="en-US">2020</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" xlink:to="lab_6JLH6HH96161_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" xml:lang="en-US">Operating Leases, Future Minimum Payments, Due Thereafter</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" xml:lang="en-US">Thereafter</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xlink:label="loc_4HJF4FF74949_us-gaap_OperatingLeasesFutureMinimumPaymentsDue"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xml:lang="en-US">Operating Leases, Future Minimum Payments Due</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_6JLH6HH96161_us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xml:lang="en-US">Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xlink:to="lab_6JLH6HH96161_us-gaap_OperatingLeasesFutureMinimumPaymentsDue"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_NumberOfLongTermNonCancelableOperatingLeases" xlink:label="loc_F980H3K1JFJG976JFII2_stra_NumberOfLongTermNonCancelableOperatingLeases"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_NumberOfLongTermNonCancelableOperatingLeases" xml:lang="en-US">Number Of Long Term Non Cancelable Operating Leases</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_NumberOfLongTermNonCancelableOperatingLeases" xml:lang="en-US">Number of long-term, non-cancelable operating leases</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_NumberOfLongTermNonCancelableOperatingLeases" xml:lang="en-US">Represents the number of long-term, non-cancelable operating leases.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_NumberOfLongTermNonCancelableOperatingLeases" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_NumberOfLongTermNonCancelableOperatingLeases"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesRentExpenseNet" xlink:label="loc_4HJF4FF74949_us-gaap_OperatingLeasesRentExpenseNet"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_OperatingLeasesRentExpenseNet" xml:lang="en-US">Operating Leases, Rent Expense, Net</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_OperatingLeasesRentExpenseNet" xml:lang="en-US">Rent expense</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_OperatingLeasesRentExpenseNet" xlink:to="lab_6JLH6HH96161_us-gaap_OperatingLeasesRentExpenseNet"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherRestructuringCosts" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_OtherRestructuringCosts"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_OtherRestructuringCosts" xml:lang="en-US">Other Restructuring Costs</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_OtherRestructuringCosts" xml:lang="en-US">Charges related to the closure of campuses and other administrative facilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_OtherRestructuringCosts" xml:lang="en-US">Restructuring and other charges</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_OtherRestructuringCosts" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_OtherRestructuringCosts"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_NumberOfCampusLocationClosed" xlink:label="loc_4HJF4FF74949_stra_NumberOfCampusLocationClosed"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_NumberOfCampusLocationClosed" xml:lang="en-US">Number Of Campus Location Closed</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_stra_NumberOfCampusLocationClosed" xml:lang="en-US">Campus location closed</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_NumberOfCampusLocationClosed" xml:lang="en-US">Represents the number of campus location closed.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_NumberOfCampusLocationClosed" xlink:to="lab_6JLH6HH96161_stra_NumberOfCampusLocationClosed"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_ReductionOfLiabilityForLossesOnFacilitiesNoLongerInUse" xlink:label="loc_F980H3K1JFJG976JFII2_stra_ReductionOfLiabilityForLossesOnFacilitiesNoLongerInUse"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_ReductionOfLiabilityForLossesOnFacilitiesNoLongerInUse" xml:lang="en-US">Reduction Of Liability For Losses On Facilities No Longer In Use</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_ReductionOfLiabilityForLossesOnFacilitiesNoLongerInUse" xml:lang="en-US">Reduction of liability</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_ReductionOfLiabilityForLossesOnFacilitiesNoLongerInUse" xml:lang="en-US">Reduction of the liability for losses on facilities no longer in use.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_ReductionOfLiabilityForLossesOnFacilitiesNoLongerInUse" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_ReductionOfLiabilityForLossesOnFacilitiesNoLongerInUse"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CurrentIncomeTaxExpenseBenefitContinuingOperationsAbstract" xlink:label="loc_4HJF4FF74949_us-gaap_CurrentIncomeTaxExpenseBenefitContinuingOperationsAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_CurrentIncomeTaxExpenseBenefitContinuingOperationsAbstract" xml:lang="en-US">Current Income Tax Expense (Benefit), Continuing Operations [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_CurrentIncomeTaxExpenseBenefitContinuingOperationsAbstract" xml:lang="en-US">Current:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_CurrentIncomeTaxExpenseBenefitContinuingOperationsAbstract" xlink:to="lab_6JLH6HH96161_us-gaap_CurrentIncomeTaxExpenseBenefitContinuingOperationsAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CurrentFederalTaxExpenseBenefit" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_CurrentFederalTaxExpenseBenefit"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_CurrentFederalTaxExpenseBenefit" xml:lang="en-US">Current Federal Tax Expense (Benefit)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_CurrentFederalTaxExpenseBenefit" xml:lang="en-US">Federal</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_CurrentFederalTaxExpenseBenefit" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_CurrentFederalTaxExpenseBenefit"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CurrentStateAndLocalTaxExpenseBenefit" xlink:label="loc_4HJF4FF74949_us-gaap_CurrentStateAndLocalTaxExpenseBenefit"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_CurrentStateAndLocalTaxExpenseBenefit" xml:lang="en-US">Current State and Local Tax Expense (Benefit)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_CurrentStateAndLocalTaxExpenseBenefit" xml:lang="en-US">State</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_CurrentStateAndLocalTaxExpenseBenefit" xlink:to="lab_6JLH6HH96161_us-gaap_CurrentStateAndLocalTaxExpenseBenefit"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CurrentIncomeTaxExpenseBenefit" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_CurrentIncomeTaxExpenseBenefit"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_CurrentIncomeTaxExpenseBenefit" xml:lang="en-US">Current Income Tax Expense (Benefit)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_CurrentIncomeTaxExpenseBenefit" xml:lang="en-US">Total current</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_CurrentIncomeTaxExpenseBenefit" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_CurrentIncomeTaxExpenseBenefit"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract" xlink:label="loc_4HJF4FF74949_us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract" xml:lang="en-US">Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract" xml:lang="en-US">Deferred:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract" xlink:to="lab_6JLH6HH96161_us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredFederalIncomeTaxExpenseBenefit" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_DeferredFederalIncomeTaxExpenseBenefit"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_DeferredFederalIncomeTaxExpenseBenefit" xml:lang="en-US">Deferred Federal Income Tax Expense (Benefit)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_DeferredFederalIncomeTaxExpenseBenefit" xml:lang="en-US">Federal</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_DeferredFederalIncomeTaxExpenseBenefit" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_DeferredFederalIncomeTaxExpenseBenefit"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" xlink:label="loc_4HJF4FF74949_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" xml:lang="en-US">Deferred State and Local Income Tax Expense (Benefit)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" xml:lang="en-US">State</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_DeferredIncomeTaxExpenseBenefit" xml:lang="en-US">Deferred Income Tax Expense (Benefit)</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxAssetsNetAbstract" xlink:label="loc_4HJF4FF74949_us-gaap_DeferredTaxAssetsNetAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_DeferredTaxAssetsNetAbstract" xml:lang="en-US">Deferred Tax Assets, Net [Abstract]</label>
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<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_DeferredTaxAssetsTuitionReceivable" xlink:label="loc_F980H3K1JFJG976JFII2_stra_DeferredTaxAssetsTuitionReceivable"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_DeferredTaxAssetsTuitionReceivable" xml:lang="en-US">Deferred Tax Assets Tuition Receivable</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_DeferredTaxAssetsTuitionReceivable" xml:lang="en-US">Tuition receivable</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_DeferredTaxAssetsTuitionReceivable" xml:lang="en-US">Amount of deferred tax asset attributable to deductible temporary differences from tuition receivable.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_DeferredTaxAssetsTuitionReceivable" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_DeferredTaxAssetsTuitionReceivable"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_DeferredTaxAssetsOtherFacilityRelatedCosts" xlink:label="loc_4HJF4FF74949_stra_DeferredTaxAssetsOtherFacilityRelatedCosts"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_DeferredTaxAssetsOtherFacilityRelatedCosts" xml:lang="en-US">Deferred Tax Assets Other Facility Related Costs</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_stra_DeferredTaxAssetsOtherFacilityRelatedCosts" xml:lang="en-US">Other facility-related costs</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_DeferredTaxAssetsOtherFacilityRelatedCosts" xml:lang="en-US">Amount of deferred tax asset attributable to deductible temporary differences from other facility related costs.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_DeferredTaxAssetsOtherFacilityRelatedCosts" xlink:to="lab_6JLH6HH96161_stra_DeferredTaxAssetsOtherFacilityRelatedCosts"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities" xml:lang="en-US">Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities" xml:lang="en-US">Employee-related liabilities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxAssetsNetCurrent" xlink:label="loc_4HJF4FF74949_us-gaap_DeferredTaxAssetsNetCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_DeferredTaxAssetsNetCurrent" xml:lang="en-US">Deferred Tax Assets, Net of Valuation Allowance, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_DeferredTaxAssetsNetCurrent" xml:lang="en-US">Current net deferred tax asset</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_6JLH6HH96161_us-gaap_DeferredTaxAssetsNetCurrent" xml:lang="en-US">Current net deferred tax asset</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_DeferredTaxAssetsNetCurrent" xlink:to="lab_6JLH6HH96161_us-gaap_DeferredTaxAssetsNetCurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost" xml:lang="en-US">Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost" xml:lang="en-US">Stock-based compensation</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment" xlink:label="loc_4HJF4FF74949_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment" xml:lang="en-US">Deferred Tax Liabilities, Property, Plant and Equipment</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_6JLH6HH96161_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment" xml:lang="en-US">Property and equipment</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment" xlink:to="lab_6JLH6HH96161_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_DeferredTaxAssetsDeferredGainOnSaleOfPropertyNonCurrent" xlink:label="loc_F980H3K1JFJG976JFII2_stra_DeferredTaxAssetsDeferredGainOnSaleOfPropertyNonCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_DeferredTaxAssetsDeferredGainOnSaleOfPropertyNonCurrent" xml:lang="en-US">Deferred Tax Assets Deferred Gain On Sale Of Property Non Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_DeferredTaxAssetsDeferredGainOnSaleOfPropertyNonCurrent" xml:lang="en-US">Other facility-related costs</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_DeferredTaxAssetsDeferredGainOnSaleOfPropertyNonCurrent" xml:lang="en-US">The tax effect as of the balance sheet date of the amount of estimated future tax effect attributable to the difference between the tax basis of the deferred gain on sale of property and the basis of the deferred gain on sale of property in accordance with generally accepted accounting principles.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_DeferredTaxAssetsDeferredGainOnSaleOfPropertyNonCurrent" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_DeferredTaxAssetsDeferredGainOnSaleOfPropertyNonCurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxAssetsDeferredIncome" xlink:label="loc_4HJF4FF74949_us-gaap_DeferredTaxAssetsDeferredIncome"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_DeferredTaxAssetsDeferredIncome" xml:lang="en-US">Deferred Tax Assets, Deferred Income</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_DeferredTaxAssetsDeferredIncome" xml:lang="en-US">Deferred revenue</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_DeferredTaxAssetsDeferredIncome" xlink:to="lab_6JLH6HH96161_us-gaap_DeferredTaxAssetsDeferredIncome"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_DeferredTaxAssetsDeferredLeasingCostsNonCurrent" xlink:label="loc_F980H3K1JFJG976JFII2_stra_DeferredTaxAssetsDeferredLeasingCostsNonCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_DeferredTaxAssetsDeferredLeasingCostsNonCurrent" xml:lang="en-US">Deferred Tax Assets Deferred Leasing Costs Non Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_DeferredTaxAssetsDeferredLeasingCostsNonCurrent" xml:lang="en-US">Deferred leasing costs</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_DeferredTaxAssetsDeferredLeasingCostsNonCurrent" xml:lang="en-US">Amount of deferred tax asset attributable to deductible temporary differences from deferred leasing costs, noncurrent.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_DeferredTaxAssetsDeferredLeasingCostsNonCurrent" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_DeferredTaxAssetsDeferredLeasingCostsNonCurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxAssetsDerivativeInstruments" xlink:label="loc_4HJF4FF74949_us-gaap_DeferredTaxAssetsDerivativeInstruments"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_DeferredTaxAssetsDerivativeInstruments" xml:lang="en-US">Deferred Tax Assets, Derivative Instruments</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_DeferredTaxAssetsDerivativeInstruments" xml:lang="en-US">Interest rate swap</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_6JLH6HH96161_us-gaap_DeferredTaxAssetsDerivativeInstruments" xml:lang="en-US">Interest rate swap</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_DeferredTaxAssetsDerivativeInstruments" xlink:to="lab_6JLH6HH96161_us-gaap_DeferredTaxAssetsDerivativeInstruments"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxAssetsOther" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_DeferredTaxAssetsOther"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_DeferredTaxAssetsOther" xml:lang="en-US">Deferred Tax Assets, Other</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_DeferredTaxAssetsOther" xml:lang="en-US">Other</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_DeferredTaxAssetsOther" xml:lang="en-US">Other</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_DeferredTaxAssetsOther" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_DeferredTaxAssetsOther"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxAssetsLiabilitiesNet" xlink:label="loc_4HJF4FF74949_us-gaap_DeferredTaxAssetsLiabilitiesNet"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_DeferredTaxAssetsLiabilitiesNet" xml:lang="en-US">Deferred Tax Assets, Net</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_6JLH6HH96161_us-gaap_DeferredTaxAssetsLiabilitiesNet" xml:lang="en-US">Net deferred tax asset</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_DeferredTaxAssetsLiabilitiesNet" xlink:to="lab_6JLH6HH96161_us-gaap_DeferredTaxAssetsLiabilitiesNet"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ReconciliationOfUnrecognizedTaxBenefitsExcludingAmountsPertainingToExaminedTaxReturnsRollForward" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_ReconciliationOfUnrecognizedTaxBenefitsExcludingAmountsPertainingToExaminedTaxReturnsRollForward"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ReconciliationOfUnrecognizedTaxBenefitsExcludingAmountsPertainingToExaminedTaxReturnsRollForward" xml:lang="en-US">Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_ReconciliationOfUnrecognizedTaxBenefitsExcludingAmountsPertainingToExaminedTaxReturnsRollForward" xml:lang="en-US">Reconciliation of the beginning and ending amount of unrecognized tax benefits</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_ReconciliationOfUnrecognizedTaxBenefitsExcludingAmountsPertainingToExaminedTaxReturnsRollForward" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_ReconciliationOfUnrecognizedTaxBenefitsExcludingAmountsPertainingToExaminedTaxReturnsRollForward"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UnrecognizedTaxBenefits" xlink:label="loc_4HJF4FF74949_us-gaap_UnrecognizedTaxBenefits"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_UnrecognizedTaxBenefits" xml:lang="en-US">Unrecognized Tax Benefits</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_UnrecognizedTaxBenefits" xml:lang="en-US">Unrecognized tax benefits</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_6JLH6HH96161_us-gaap_UnrecognizedTaxBenefits" xml:lang="en-US">Beginning unrecognized tax benefits</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_6JLH6HH96161_us-gaap_UnrecognizedTaxBenefits" xml:lang="en-US">Ending unrecognized tax benefits</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_UnrecognizedTaxBenefits" xlink:to="lab_6JLH6HH96161_us-gaap_UnrecognizedTaxBenefits"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions" xml:lang="en-US">Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions" xml:lang="en-US">Additions based on tax positions taken in the current year</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions" xlink:label="loc_4HJF4FF74949_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions" xml:lang="en-US">Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions" xml:lang="en-US">Reductions for tax positions taken in prior years</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes" xml:lang="en-US">State income taxes, net of federal benefits</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments"/>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments" xml:lang="en-US">Other</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EffectiveIncomeTaxRateContinuingOperations" xlink:label="loc_4HJF4FF74949_us-gaap_EffectiveIncomeTaxRateContinuingOperations"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_EffectiveIncomeTaxRateContinuingOperations" xml:lang="en-US">Effective Income Tax Rate Reconciliation, Percent</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_EffectiveIncomeTaxRateContinuingOperations" xml:lang="en-US">Effective tax rate</label>
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<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_IncomeTaxesTextualAbstract" xlink:label="loc_F980H3K1JFJG976JFII2_stra_IncomeTaxesTextualAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_IncomeTaxesTextualAbstract" xml:lang="en-US">Income Taxes (Textual)</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxesPaid" xlink:label="loc_4HJF4FF74949_us-gaap_IncomeTaxesPaid"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_IncomeTaxesPaid" xml:lang="en-US">Income Taxes Paid</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_IncomeTaxesPaid" xml:lang="en-US">Cash payments for income taxes</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense" xml:lang="en-US">Income Tax Examination, Penalties and Interest Expense</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense" xml:lang="en-US">Tax expense (benefits) related to interest and penalities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense" xml:lang="en-US">Tax expense (benefits) related to interest and penalties</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit" xlink:label="loc_4HJF4FF74949_us-gaap_SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit" xml:lang="en-US">Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit" xml:lang="en-US">Reduction of unrecognized tax benefits in the next twelve months, due to expiration of applicable statues of limitation</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate" xml:lang="en-US">Unrecognized Tax Benefits that Would Impact Effective Tax Rate</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate" xml:lang="en-US">Unrecognized tax benefits that affects company's effective tax rate</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_us-gaap_UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate" xlink:to="lab_H102J5M3LHLI198LHKK4_us-gaap_UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxExaminationPenaltiesAndInterestAccrued" xlink:label="loc_4HJF4FF74949_us-gaap_IncomeTaxExaminationPenaltiesAndInterestAccrued"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_us-gaap_IncomeTaxExaminationPenaltiesAndInterestAccrued" xml:lang="en-US">Income Tax Examination, Penalties and Interest Accrued</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_us-gaap_IncomeTaxExaminationPenaltiesAndInterestAccrued" xml:lang="en-US">Amount of interest and penalties</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_us-gaap_IncomeTaxExaminationPenaltiesAndInterestAccrued" xlink:to="lab_6JLH6HH96161_us-gaap_IncomeTaxExaminationPenaltiesAndInterestAccrued"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SelectedQuarterlyFinancialInformationAbstract" xlink:label="loc_F980H3K1JFJG976JFII2_us-gaap_SelectedQuarterlyFinancialInformationAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_us-gaap_SelectedQuarterlyFinancialInformationAbstract" xml:lang="en-US">Selected Quarterly Financial Information [Abstract]</label>
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<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_ScheduleOfRegulationTable" xlink:label="loc_4HJF4FF74949_stra_ScheduleOfRegulationTable"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_ScheduleOfRegulationTable" xml:lang="en-US">Schedule of Regulation [Table]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_ScheduleOfRegulationTable" xml:lang="en-US">Schedule Of Regulation.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_ScheduleOfRegulationTable" xlink:to="lab_6JLH6HH96161_stra_ScheduleOfRegulationTable"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_RegulationLineItems" xlink:label="loc_F980H3K1JFJG976JFII2_stra_RegulationLineItems"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_RegulationLineItems" xml:lang="en-US">Regulation [Line Items]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_RegulationLineItems" xml:lang="en-US">Regulation line items.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_RegulationLineItems" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_RegulationLineItems"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_RegulationTextualAbstract" xlink:label="loc_4HJF4FF74949_stra_RegulationTextualAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_RegulationTextualAbstract" xml:lang="en-US">Regulation Textual [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_stra_RegulationTextualAbstract" xml:lang="en-US">Regulation (Textual)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_RegulationTextualAbstract" xml:lang="en-US">Regulation Textual Abstract.</label>
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<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_AverageOfMedianAnnualIncomePercentage" xlink:label="loc_F980H3K1JFJG976JFII2_stra_AverageOfMedianAnnualIncomePercentage"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_AverageOfMedianAnnualIncomePercentage" xml:lang="en-US">Average Of Median Annual Income Percentage</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_AverageOfMedianAnnualIncomePercentage" xml:lang="en-US">Average of median annual income percentage</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_AverageOfMedianAnnualIncomePercentage" xml:lang="en-US">Average of median annual income percentage.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_F980H3K1JFJG976JFII2_stra_AverageOfMedianAnnualIncomePercentage" xlink:to="lab_H102J5M3LHLI198LHKK4_stra_AverageOfMedianAnnualIncomePercentage"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_AverageOfMedianDiscretionaryPercentage" xlink:label="loc_4HJF4FF74949_stra_AverageOfMedianDiscretionaryPercentage"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_AverageOfMedianDiscretionaryPercentage" xml:lang="en-US">Average Of Median Discretionary Percentage</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_6JLH6HH96161_stra_AverageOfMedianDiscretionaryPercentage" xml:lang="en-US">Average of median discretionary percentage</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_AverageOfMedianDiscretionaryPercentage" xml:lang="en-US">Average of median discretionary percentage.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_AverageOfMedianDiscretionaryPercentage" xlink:to="lab_6JLH6HH96161_stra_AverageOfMedianDiscretionaryPercentage"/>
<loc xlink:type="locator" xlink:href="stra-20151231.xsd#stra_ThresholdForProgramToFail" xlink:label="loc_F980H3K1JFJG976JFII2_stra_ThresholdForProgramToFail"/>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_ThresholdForProgramToFail" xml:lang="en-US">Debt to income rates description</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_H102J5M3LHLI198LHKK4_stra_ThresholdForProgramToFail" xml:lang="en-US">Threshold for program to fail.</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_6JLH6HH96161_stra_AmountDueToDepartmentOfEducation" xml:lang="en-US">Amount Due To Department Of Education</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_6JLH6HH96161_stra_AmountDueToDepartmentOfEducation" xml:lang="en-US">Amount due to department of education</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_6JLH6HH96161_stra_AmountDueToDepartmentOfEducation" xml:lang="en-US">Amount due to the Department of Education based on an underpayment on a return to Title IV calculation.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_4HJF4FF74949_stra_AmountDueToDepartmentOfEducation" xlink:to="lab_6JLH6HH96161_stra_AmountDueToDepartmentOfEducation"/>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>15
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6828107184">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Document and Entity Information - USD ($)<br> $ in Millions</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Feb. 01, 2016</div></th>
<th class="th"><div>Jun. 30, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_DocumentAndEntityInformationAbstract', window );"><strong>Document and Entity Information [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">STRAYER EDUCATION INC<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001013934<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CurrentFiscalYearEndDate', window );">Current Fiscal Year End Date</a></td>
<td class="text">--12-31<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">10-K<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Dec. 31,  2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalPeriodFocus', window );">Document Fiscal Period Focus</a></td>
<td class="text">FY<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalYearFocus', window );">Document Fiscal Year Focus</a></td>
<td class="text">2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityWellKnownSeasonedIssuer', window );">Entity Well-known Seasoned Issuer</a></td>
<td class="text">No<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityVoluntaryFilers', window );">Entity Voluntary Filers</a></td>
<td class="text">No<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCurrentReportingStatus', window );">Entity Current Reporting Status</a></td>
<td class="text">Yes<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFilerCategory', window );">Entity Filer Category</a></td>
<td class="text">Accelerated Filer<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityPublicFloat', window );">Entity Public Float</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 452.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11,027,177<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>If the value is true, then the document is an amendment to previously-filed/accepted document.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>End date of current fiscal year in the format --MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other".</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12b<br> -Subsection 1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>State aggregate market value of voting and non-voting common equity held by non-affiliates computed by reference to price at which the common equity was last sold, or average bid and asked price of such common equity, as of the last business day of registrant's most recently completed second fiscal quarter. The public float should be reported on the cover page of the registrants form 10K.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12b<br> -Subsection 1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityWellKnownSeasonedIssuer</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Document And Entity Information.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Balance Sheets - USD ($)<br> $ in Thousands</strong></div></th>
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</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
<td class="nump">$ 106,889<span></span>
</td>
<td class="nump">$ 162,283<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNetCurrent', window );">Tuition receivable, net</a></td>
<td class="nump">18,519<span></span>
</td>
<td class="nump">16,942<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssetsCurrent', window );">Other current assets</a></td>
<td class="nump">13,390<span></span>
</td>
<td class="nump">17,426<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrent', window );">Total current assets</a></td>
<td class="nump">138,798<span></span>
</td>
<td class="nump">196,651<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Property and equipment, net</a></td>
<td class="nump">77,139<span></span>
</td>
<td class="nump">82,266<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsNetNoncurrent', window );">Deferred income taxes</a></td>
<td class="nump">20,003<span></span>
</td>
<td class="nump">16,241<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Goodwill', window );">Goodwill</a></td>
<td class="nump">6,800<span></span>
</td>
<td class="nump">6,800<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssetsNoncurrent', window );">Other assets</a></td>
<td class="nump">5,694<span></span>
</td>
<td class="nump">5,857<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
<td class="nump">248,434<span></span>
</td>
<td class="nump">307,815<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrentAbstract', window );"><strong>Current liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent', window );">Accounts payable and accrued expenses</a></td>
<td class="nump">42,253<span></span>
</td>
<td class="nump">43,836<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TaxesPayableCurrent', window );">Income taxes payable</a></td>
<td class="nump">2,684<span></span>
</td>
<td class="nump">1,286<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenueCurrent', window );">Deferred revenue</a></td>
<td class="nump">12,373<span></span>
</td>
<td class="nump">4,682<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherLiabilitiesCurrent', window );">Other current liabilities</a></td>
<td class="nump">$ 281<span></span>
</td>
<td class="nump">281<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtCurrent', window );">Current portion of debt</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">6,250<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrent', window );">Total current liabilities</a></td>
<td class="nump">$ 57,591<span></span>
</td>
<td class="nump">56,335<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtNoncurrent', window );">Long term debt</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">112,500<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent', window );">Other long-term liabilities</a></td>
<td class="nump">$ 47,987<span></span>
</td>
<td class="nump">46,248<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Liabilities', window );">Total liabilities</a></td>
<td class="nump">$ 105,578<span></span>
</td>
<td class="nump">$ 215,083<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingencies', window );">Commitments and contingencies</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>Stockholders' equity:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockValue', window );">Common stock, par value $0.01; 20,000,000 shares authorized; 10,903,341 and 11,027,177 shares issued and outstanding at December 31, 2014 and 2015, respectively</a></td>
<td class="nump">$ 110<span></span>
</td>
<td class="nump">$ 109<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdditionalPaidInCapitalCommonStock', window );">Additional paid-in capital</a></td>
<td class="nump">24,738<span></span>
</td>
<td class="nump">14,550<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsAccumulatedDeficit', window );">Retained earnings</a></td>
<td class="nump">$ 118,008<span></span>
</td>
<td class="nump">77,985<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax', window );">Accumulated other comprehensive income</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">88<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total stockholders' equity</a></td>
<td class="nump">$ 142,856<span></span>
</td>
<td class="nump">92,732<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">Total liabilities and stockholders' equity</a></td>
<td class="nump">$ 248,434<span></span>
</td>
<td class="nump">$ 307,815<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19,20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsReceivableNetCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.3-4)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 3<br> -Subparagraph a(1)<br> -Article 5<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 4<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsReceivableNetCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e637-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e681-108580<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14A<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669686-108580<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 31<br> -Article 5<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Article 3<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdditionalPaidInCapitalCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.30(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 31<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdditionalPaidInCapitalCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 12<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6801-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsCurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash<br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3044-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash Equivalents<br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommitmentsAndContingencies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.(a),19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14326-108349<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.25)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommitmentsAndContingencies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRevenueCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 13.A.4(a).Q1)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012821&amp;loc=d3e214044-122780<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 13<br> -Section A<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredRevenueCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsNetNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after allocation of valuation allowances of noncurrent deferred tax asset attributable to deductible temporary differences and carryforwards. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31931-109318<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31928-109318<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31958-109318<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31917-109318<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsNetNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Goodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=35741047&amp;loc=d3e13816-109267<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6388280&amp;loc=d3e13770-109266<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Goodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19-26)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAndStockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.32)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 25<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesAndStockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesCurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregated carrying amounts of obligations as of the balance sheet date, excluding long-term debt, incurred as part of the normal operations that are expected to be paid after one year or beyond the normal operating cycle, if longer. Alternate captions include Total Deferred Credits and Other Liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt, after unamortized discount or premium, scheduled to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19,20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount of long-term debt, net of unamortized discount or premium, excluding amounts to be repaid within one year or the normal operating cycle, if longer (current maturities). Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate carrying amount, as of the balance sheet date, of current assets not separately disclosed in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherAssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAssetsNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherAssetsNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate carrying amount of current liabilities (due within one year or within the normal operating cycle if longer) not separately disclosed in the balance sheet. Includes costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered and of liabilities not separately disclosed.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6904-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6911-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 13<br> -Subparagraph a<br> -Article 5<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 8<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RetainedEarningsAccumulatedDeficit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cumulative amount of the reporting entity's undistributed earnings or deficit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.31(a)(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Article 3<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RetainedEarningsAccumulatedDeficit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB TOPIC 4.E)<br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 4<br> -Section E<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TaxesPayableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred and payable for statutory income, sales, use, payroll, excise, real, property and other taxes. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19,20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TaxesPayableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<DOCUMENT>
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<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6759638688">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Balance Sheets (Parenthetical) - $ / shares<br></strong></div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementOfFinancialPositionAbstract', window );"><strong>Balance Sheets [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockParOrStatedValuePerShare', window );">Common stock, par value</a></td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesAuthorized', window );">Common stock, shares authorized</a></td>
<td class="nump">20,000,000<span></span>
</td>
<td class="nump">20,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Common stock, shares issued</a></td>
<td class="nump">11,027,177<span></span>
</td>
<td class="nump">10,903,341<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Common stock, shares outstanding</a></td>
<td class="nump">11,027,177<span></span>
</td>
<td class="nump">10,903,341<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of common stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of common shares permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementOfFinancialPositionAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementOfFinancialPositionAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6828659776">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Income - USD ($)<br> shares in Thousands, $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementAbstract', window );"><strong>Statements of Income [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueServicesNet', window );">Revenues</a></td>
<td class="nump">$ 434,437<span></span>
</td>
<td class="nump">$ 446,041<span></span>
</td>
<td class="nump">$ 503,600<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostsAndExpensesAbstract', window );"><strong>Costs and expenses:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostOfServices', window );">Instruction and educational support</a></td>
<td class="nump">234,097<span></span>
</td>
<td class="nump">236,303<span></span>
</td>
<td class="nump">310,446<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SellingAndMarketingExpense', window );">Marketing</a></td>
<td class="nump">70,084<span></span>
</td>
<td class="nump">66,495<span></span>
</td>
<td class="nump">75,426<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_AdmissionsAdvisory', window );">Admissions advisory</a></td>
<td class="nump">16,304<span></span>
</td>
<td class="nump">16,661<span></span>
</td>
<td class="nump">20,390<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GeneralAndAdministrativeExpense', window );">General and administration</a></td>
<td class="nump">44,254<span></span>
</td>
<td class="nump">44,835<span></span>
</td>
<td class="nump">64,637<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostsAndExpenses', window );">Total costs and expenses</a></td>
<td class="nump">364,739<span></span>
</td>
<td class="nump">364,294<span></span>
</td>
<td class="nump">470,899<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Income from operations</a></td>
<td class="nump">69,698<span></span>
</td>
<td class="nump">81,747<span></span>
</td>
<td class="nump">32,701<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentIncomeNonoperating', window );">Investment income</a></td>
<td class="nump">283<span></span>
</td>
<td class="nump">117<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpense', window );">Interest expense</a></td>
<td class="nump">3,850<span></span>
</td>
<td class="nump">5,248<span></span>
</td>
<td class="nump">5,419<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest', window );">Income before income taxes</a></td>
<td class="nump">66,131<span></span>
</td>
<td class="nump">76,616<span></span>
</td>
<td class="nump">27,284<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Provision for income taxes</a></td>
<td class="nump">26,108<span></span>
</td>
<td class="nump">30,260<span></span>
</td>
<td class="nump">10,859<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
<td class="nump">$ 40,023<span></span>
</td>
<td class="nump">$ 46,356<span></span>
</td>
<td class="nump">$ 16,425<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareAbstract', window );"><strong>Earnings per share:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasic', window );">Basic</a></td>
<td class="nump">$ 3.78<span></span>
</td>
<td class="nump">$ 4.39<span></span>
</td>
<td class="nump">$ 1.55<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareDiluted', window );">Diluted</a></td>
<td class="nump">$ 3.73<span></span>
</td>
<td class="nump">$ 4.35<span></span>
</td>
<td class="nump">$ 1.55<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract', window );"><strong>Weighted average shares outstanding:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic', window );">Basic</a></td>
<td class="nump">10,588<span></span>
</td>
<td class="nump">10,561<span></span>
</td>
<td class="nump">10,584<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding', window );">Diluted</a></td>
<td class="nump">10,740<span></span>
</td>
<td class="nump">10,650<span></span>
</td>
<td class="nump">10,624<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_AdmissionsAdvisory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Includes salaries, benefits, and related costs of personnel engaged in admissions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_AdmissionsAdvisory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostOfServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total costs related to services rendered by an entity during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.2(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CostOfServices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostsAndExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total costs of sales and operating expenses for the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CostsAndExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostsAndExpensesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CostsAndExpensesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI http://asc.fasb.org/extlink&amp;oid=32703322&amp;loc=d3e4984-109258<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.23)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 18<br> -Article 7<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 20<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 21<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 18<br> -Article 7<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 20<br> -Article 5<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 21<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GeneralAndAdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GeneralAndAdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 940<br> -SubTopic 20<br> -Section 25<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=51673353&amp;loc=d3e41242-110953<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 10<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeStatementAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeStatementAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a),(b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Income Tax Expense (or Benefit)<br> -URI http://asc.fasb.org/extlink&amp;oid=6515339<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the cost of borrowed funds accounted for as interest expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of income from investments (for example, dividends) not considered a component of the entity's core operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentIncomeNonoperating</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 19<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 20<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net result for the period of deducting operating expenses from operating revenues.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingIncomeLoss</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate revenue during the period from services rendered in the normal course of business, after deducting allowances and discounts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SalesRevenueServicesNet</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate total amount of expenses directly related to the marketing or selling of products or services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SellingAndMarketingExpense</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 16<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1505-109256<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1448-109256<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Weighted-Average Number of Common Shares Outstanding<br> -URI http://asc.fasb.org/extlink&amp;oid=6528421<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesOutstandingBasic</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6760886368">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Comprehensive Income - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract', window );"><strong>Statements of Comprehensive Income [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
<td class="nump">$ 40,023<span></span>
</td>
<td class="nump">$ 46,356<span></span>
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<td class="nump">$ 16,425<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParentAbstract', window );"><strong>Other comprehensive income:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax', window );">Change in fair value of derivative instrument, net of income tax</a></td>
<td class="num">(88)<span></span>
</td>
<td class="nump">60<span></span>
</td>
<td class="nump">764<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTax', window );">Comprehensive income</a></td>
<td class="nump">$ 39,935<span></span>
</td>
<td class="nump">$ 46,416<span></span>
</td>
<td class="nump">$ 17,189<span></span>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ComprehensiveIncomeNetOfTax">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831223<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e557-108580<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ComprehensiveIncomeNetOfTax</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 19<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 20<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax and reclassification adjustments, of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10A<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669646-108580<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParentAbstract">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParentAbstract</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6828801024">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Statements of Stockholders' Equity - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Total</div></th>
<th class="th"><div>Common Stock</div></th>
<th class="th"><div>Additional Paid-in Capital</div></th>
<th class="th"><div>Retained Earnings</div></th>
<th class="th"><div>Accumulated Other Comprehensive Income (Loss)</div></th>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Beginning balance at Dec. 31, 2012</a></td>
<td class="nump">$ 40,988<span></span>
</td>
<td class="nump">$ 114<span></span>
</td>
<td class="nump">$ 299<span></span>
</td>
<td class="nump">$ 41,311<span></span>
</td>
<td class="num">$ (736)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">Beginning balance, shares at Dec. 31, 2012</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11,387,299<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalIncomeTaxDeficiencyFromShareBasedCompensation', window );">Tax shortfall associated with stock-based compensation arrangements</a></td>
<td class="num">(3,567)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(702)<span></span>
</td>
<td class="num">(2,865)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockRepurchasedDuringPeriodValue', window );">Repurchase of common stock</a></td>
<td class="num">$ (24,999)<span></span>
</td>
<td class="num">$ (5)<span></span>
</td>
<td class="num">(1,752)<span></span>
</td>
<td class="num">$ (23,242)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockRepurchasedDuringPeriodShares', window );">Repurchase of common stock, shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(495,085)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_StockIssuedDuringPeriodValueRestrictedStockAwardForfeituresAndCancellationsNetOfGrants', window );">Restricted stock forfeitures and cancellations, net of grants</a></td>
<td class="text"> <span></span>
</td>
<td class="num">$ (1)<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_StockIssuedDuringPeriodSharesRestrictedStockAwardForfeituresAndCancellationsNetOfGrants', window );">Restricted stock forfeitures and cancellations, net of grants, shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(94,750)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Stock-based compensation</a></td>
<td class="nump">$ 9,291<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 9,291<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax', window );">Change in fair value of derivative instrument, net of income tax</a></td>
<td class="nump">764<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 764<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
<td class="nump">16,425<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 16,425<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Ending balance at Dec. 31, 2013</a></td>
<td class="nump">38,902<span></span>
</td>
<td class="nump">$ 108<span></span>
</td>
<td class="nump">$ 7,137<span></span>
</td>
<td class="nump">$ 31,629<span></span>
</td>
<td class="nump">$ 28<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">Ending balance, shares at Dec. 31, 2013</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,797,464<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalIncomeTaxDeficiencyFromShareBasedCompensation', window );">Tax shortfall associated with stock-based compensation arrangements</a></td>
<td class="num">$ (2,039)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(2,039)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures', window );">Restricted stock grants, net of forfeitures</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 1<span></span>
</td>
<td class="num">(1)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures', window );">Restricted stock grants, net of forfeitures, shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">105,877<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Stock-based compensation</a></td>
<td class="nump">$ 9,453<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 9,453<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax', window );">Change in fair value of derivative instrument, net of income tax</a></td>
<td class="nump">60<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 60<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
<td class="nump">46,356<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 46,356<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Ending balance at Dec. 31, 2014</a></td>
<td class="nump">92,732<span></span>
</td>
<td class="nump">$ 109<span></span>
</td>
<td class="nump">$ 14,550<span></span>
</td>
<td class="nump">$ 77,985<span></span>
</td>
<td class="nump">$ 88<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">Ending balance, shares at Dec. 31, 2014</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,903,341<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalIncomeTaxDeficiencyFromShareBasedCompensation', window );">Tax shortfall associated with stock-based compensation arrangements</a></td>
<td class="num">$ (24)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(24)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures', window );">Restricted stock grants, net of forfeitures</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 1<span></span>
</td>
<td class="num">(1)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures', window );">Restricted stock grants, net of forfeitures, shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">123,836<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Stock-based compensation</a></td>
<td class="nump">$ 10,213<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 10,213<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax', window );">Change in fair value of derivative instrument, net of income tax</a></td>
<td class="num">(88)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">$ (88)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
<td class="nump">40,023<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 40,023<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Ending balance at Dec. 31, 2015</a></td>
<td class="nump">$ 142,856<span></span>
</td>
<td class="nump">$ 110<span></span>
</td>
<td class="nump">$ 24,738<span></span>
</td>
<td class="nump">$ 118,008<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">Ending balance, shares at Dec. 31, 2015</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11,027,177<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_StockIssuedDuringPeriodSharesRestrictedStockAwardForfeituresAndCancellationsNetOfGrants">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares related to Restricted Stock Award forfeited and cancellations, net of grants during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_StockIssuedDuringPeriodSharesRestrictedStockAwardForfeituresAndCancellationsNetOfGrants</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_StockIssuedDuringPeriodValueRestrictedStockAwardForfeituresAndCancellationsNetOfGrants">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value of stock related to Restricted Stock Awards forfeited and cancellations, net of grants during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_StockIssuedDuringPeriodValueRestrictedStockAwardForfeituresAndCancellationsNetOfGrants</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalIncomeTaxDeficiencyFromShareBasedCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of decrease in additional paid in capital (APIC) resulting from a tax deficiency associated with a share-based compensation plan other than an employee stock ownership plan (ESOP).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToAdditionalPaidInCapitalIncomeTaxDeficiencyFromShareBasedCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents the amount of recognized equity-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Alternate captions include the words "stock-based compensation".</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 35<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415241&amp;loc=d3e4534-113899<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 20<br> -Section 55<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=32706628&amp;loc=d3e11149-113907<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 20<br> -Section 55<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=32706628&amp;loc=d3e11178-113907<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 19<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 20<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax and reclassification adjustments, of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10A<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669646-108580<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of stock issued as of the balance sheet date, including shares that had been issued and were previously outstanding but which are now held in the treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares issued during the period related to Restricted Stock Awards, net of any shares forfeited.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value of stock related to Restricted Stock Awards issued during the period, net of the stock value of such awards forfeited.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockRepurchasedDuringPeriodShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Article 3<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockRepurchasedDuringPeriodShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockRepurchasedDuringPeriodValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30, 31<br> -Article 5<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Article 3<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockRepurchasedDuringPeriodValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB TOPIC 4.E)<br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 4<br> -Section E<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_AdditionalPaidInCapitalMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_AdditionalPaidInCapitalMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_RetainedEarningsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_RetainedEarningsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_AccumulatedOtherComprehensiveIncomeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_AccumulatedOtherComprehensiveIncomeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<SEQUENCE>21
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<head>
<title></title>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6761638496">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Cash Flows - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Cash flows from operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
<td class="nump">$ 40,023<span></span>
</td>
<td class="nump">$ 46,356<span></span>
</td>
<td class="nump">$ 16,425<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net income to net cash provided by operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_AmortizationOfGainOnSaleOfAssets', window );">Amortization of gain on sale of assets</a></td>
<td class="num">(280)<span></span>
</td>
<td class="num">(280)<span></span>
</td>
<td class="num">(281)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_AmortizationOfDeferredRent', window );">Amortization of deferred rent</a></td>
<td class="num">(345)<span></span>
</td>
<td class="num">(1,092)<span></span>
</td>
<td class="num">(462)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfFinancingCosts', window );">Amortization of deferred financing costs</a></td>
<td class="nump">1,229<span></span>
</td>
<td class="nump">780<span></span>
</td>
<td class="nump">780<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortization', window );">Depreciation and amortization</a></td>
<td class="nump">18,104<span></span>
</td>
<td class="nump">20,630<span></span>
</td>
<td class="nump">35,563<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_DeferredIncomeTaxExpenseBenefitCashFlowAdjustmentsToNetIncome', window );">Deferred income taxes</a></td>
<td class="num">(4,006)<span></span>
</td>
<td class="num">(1,036)<span></span>
</td>
<td class="num">(23,435)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Stock-based compensation</a></td>
<td class="nump">10,213<span></span>
</td>
<td class="nump">9,453<span></span>
</td>
<td class="nump">9,291<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract', window );"><strong>Changes in assets and liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsReceivable', window );">Tuition receivable, net</a></td>
<td class="num">(1,991)<span></span>
</td>
<td class="nump">685<span></span>
</td>
<td class="nump">4,024<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets', window );">Other current assets</a></td>
<td class="nump">4,005<span></span>
</td>
<td class="num">(2,862)<span></span>
</td>
<td class="nump">2,434<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOtherOperatingAssets', window );">Other assets</a></td>
<td class="nump">22<span></span>
</td>
<td class="nump">219<span></span>
</td>
<td class="nump">494<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities', window );">Accounts payable and accrued expenses</a></td>
<td class="num">(752)<span></span>
</td>
<td class="nump">6,550<span></span>
</td>
<td class="num">(116)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable', window );">Income taxes payable and income taxes receivable</a></td>
<td class="nump">1,835<span></span>
</td>
<td class="nump">737<span></span>
</td>
<td class="nump">7,799<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInDeferredRevenue', window );">Deferred revenue</a></td>
<td class="nump">12,465<span></span>
</td>
<td class="nump">11,783<span></span>
</td>
<td class="nump">2,059<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities', window );">Other long-term liabilities</a></td>
<td class="num">(3,624)<span></span>
</td>
<td class="num">(14,373)<span></span>
</td>
<td class="nump">29,518<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivities', window );">Net cash provided by operating activities</a></td>
<td class="nump">76,898<span></span>
</td>
<td class="nump">77,550<span></span>
</td>
<td class="nump">84,093<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract', window );"><strong>Cash flows from investing activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Purchases of property and equipment</a></td>
<td class="num">(12,692)<span></span>
</td>
<td class="num">(6,902)<span></span>
</td>
<td class="num">(8,726)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivities', window );">Net cash used in investing activities</a></td>
<td class="num">(12,692)<span></span>
</td>
<td class="num">(6,902)<span></span>
</td>
<td class="num">(8,726)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>Cash flows from financing activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfLongTermDebt', window );">Payments on term loan</a></td>
<td class="num">(118,750)<span></span>
</td>
<td class="num">$ (3,125)<span></span>
</td>
<td class="num">$ (3,125)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsOfFinancingCosts', window );">Payment of deferred financing costs</a></td>
<td class="num">$ (850)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsForRepurchaseOfCommonStock', window );">Repurchase of common stock</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">$ (24,999)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivities', window );">Net cash used in financing activities</a></td>
<td class="num">$ (119,600)<span></span>
</td>
<td class="num">$ (3,125)<span></span>
</td>
<td class="num">(28,124)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease', window );">Net increase (decrease) in cash and cash equivalents</a></td>
<td class="num">(55,394)<span></span>
</td>
<td class="nump">67,523<span></span>
</td>
<td class="nump">47,243<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents - beginning of year</a></td>
<td class="nump">162,283<span></span>
</td>
<td class="nump">94,760<span></span>
</td>
<td class="nump">47,517<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents - end of year</a></td>
<td class="nump">106,889<span></span>
</td>
<td class="nump">162,283<span></span>
</td>
<td class="nump">94,760<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract', window );"><strong>Non-cash transactions:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueOfAssetsAcquired', window );">Purchases of property and equipment included in accounts payable</a></td>
<td class="nump">$ 365<span></span>
</td>
<td class="nump">$ 412<span></span>
</td>
<td class="nump">$ 47<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_AmortizationOfDeferredRent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the amortization of the deferred rent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_AmortizationOfDeferredRent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_AmortizationOfGainOnSaleOfAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amortization of gain on sale of assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_AmortizationOfGainOnSaleOfAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_DeferredIncomeTaxExpenseBenefitCashFlowAdjustmentsToNetIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Deferred income tax expense benefit cash flow adjustments to net income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_DeferredIncomeTaxExpenseBenefitCashFlowAdjustmentsToNetIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfFinancingCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of noncash expense included in interest expense to issue debt and obtain financing associated with the related debt instruments. Alternate captions include noncash interest expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 8<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AmortizationOfFinancingCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash<br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3044-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash Equivalents<br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 230<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=49171198&amp;loc=d3e33268-110906<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationAndAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepreciationAndAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueOfAssetsAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value of assets acquired in noncash investing or financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4313-108586<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueOfAssetsAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the period in the amount due for taxes based on the reporting entity's earnings or attributable to the entity's income earning process (business presence) within a given jurisdiction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInDeferredRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period, excluding the portion taken into income, in the liability reflecting revenue yet to be earned for which cash or other forms of consideration was received or recorded as a receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInDeferredRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOperatingCapitalAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in other noncurrent operating liabilities not separately disclosed in the statement of cash flows.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOtherOperatingAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in other assets used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets, other noncurrent assets, or a combination of other current and noncurrent assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOtherOperatingAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets, or income taxes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 26<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3574-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 26<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3574-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 19<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 20<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow to reacquire common stock during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3291-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for loan and debt issuance costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3291-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3291-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6764458688">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Nature of Operations<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
<tr class="re">
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NatureOfOperations', window );">Nature of Operations</a></td>
<td class="text"><p class="h2note" style="font: bold 10pt/12pt timesnewromanpsstd-bold; margin: 12pt 0in 0pt 20pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"><font class="bold" style="font-weight: bold;">1.</font><font class="bold" style="font-weight: bold;"><font style="font-size: 8.5pt;">&#160;&#160;&#160;&#160;</font>&#160;Nature of Operations</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">Strayer Education, Inc. (the &#8220;Company&#8221;), a Maryland corporation, conducts its operations through its wholly owned subsidiaries, Strayer University (the &#8220;University&#8221;) and New York Code and Design Academy (&#8220;NYCDA&#8221;). The University is an accredited institution of higher education that provides undergraduate and graduate degrees in various fields of study through physical campuses, predominantly located in the eastern United States, and online. With the Company&#8217;s focus on the student, regardless of whether he or she chooses to take classes at a physical campus or online, it has only one reporting segment.</p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for the nature of an entity's business, major products or services, principal markets including location, and the relative importance of its operations in each business and the basis for the determination, including but not limited to, assets, revenues, or earnings. For an entity that has not commenced principal operations, disclosures about the risks and uncertainties related to the activities in which the entity is currently engaged and an understanding of what those activities are being directed toward.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=51801978&amp;loc=d3e6003-108592<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2A<br> -URI http://asc.fasb.org/extlink&amp;oid=51801978&amp;loc=SL51803626-108592<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6746904640">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAccountingPoliciesTextBlock', window );">Significant Accounting Policies</a></td>
<td class="text"><p class="h2note" style="font: bold 10pt/12pt timesnewromanpsstd-bold; margin: 12pt 0in 0pt 20pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font class="bold" style="font-weight: bold;">2.</font><font class="bold" style="font-weight: bold;"><font style="font-size: 8.5pt;">&#160;&#160;&#160;&#160;</font>&#160;Significant Accounting Policies</font></p>
<p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Financial Statement Presentation</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, the University. On January 13, 2016, the Company acquired all of the outstanding stock of NYCDA, and the results of NYCDA will be included with the Company from the acquisition date. All intercompany accounts and transactions have been eliminated in the consolidated financial statements.</p>
<p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Revenue Recognition</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">The Company&#8217;s educational programs are offered on a quarterly basis and such periods coincide with the Company&#8217;s quarterly financial reporting periods. Approximately 96% of the Company&#8217;s revenues during the year ended December 31, 2015 consisted of tuition revenue, which is recognized in the quarter of instruction. Tuition revenue is assessed for collectibility on a student-by-student basis throughout the quarter of instruction, and is shown net of any refunds, withdrawals, corporate discounts, scholarships and employee tuition discounts. This collectibility assessment considers available sources of funds for the student including Federal Financial Student Aid programs. The Company reassesses the collectibility of tuition revenue that it may earn based on new information and changes in the facts and circumstances relevant to a student&#8217;s ability to pay, including the timing of a student&#8217;s withdrawal from a program of study.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">At the start of each academic term, a liability (deferred revenue) is recorded for academic services to be provided and a tuition receivable is recorded for the portion of the tuition not paid in advance. Any cash received prior to the start of an academic term is recorded as deferred revenue. Some students may be eligible for scholarship awards, the estimated value of which will be realized in the future and is deducted from revenue when earned, based on historical student attendance and completion behavior. Deferred revenue is recorded as a current or long-term liability in the consolidated balance sheets based on when the benefit is expected to be realized. Revenues also include textbook-related income, certificate revenue, certain academic fees, licensing revenue, and other income, which are recognized when earned.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">The Company&#8217;s refund policy typically permits students who complete less than half of a course to receive a partial refund of tuition for that course. Refunds reduce the tuition revenue that would have otherwise been recognized for that student. Since the Company&#8217;s academic terms coincide with its financial reporting periods, nearly all refunds are processed and recorded within the same quarter as the corresponding revenue. The amount of tuition revenue refundable to students may vary based on the student&#8217;s state of residence. Unused books and related academic materials may be returned for a full refund within 21 days of the start of class; however, purchases of electronic content are not refundable if downloaded. Revenues derived from fees are not eligible for a refund.</p>
<p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Graduation Fund</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">In the third quarter of 2013, the Company introduced the Graduation Fund, which allows new undergraduate students to earn tuition credits that are redeemable in the final year of a student&#8217;s course of study if he or she successfully remains in the program. New students registering in credit-bearing courses in any undergraduate program for the summer 2013 term (fiscal third quarter) and subsequent terms qualify for the Graduation Fund. Students must meet all of the University&#8217;s admission requirements, and must be enrolled in an undergraduate degree program. The Company&#8217;s employees and their dependents are not eligible for the program. Students who have more than one consecutive term of
 non-attendance lose any Graduation Fund credits earned to date, but may earn and accumulate new credits if the student is reinstated or readmitted by the University in the future. In their final academic year, qualifying students will receive one free course for every three courses that were successfully completed.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">Revenue from students participating in the Graduation Fund is recorded in accordance with the Revenue Recognition Topic, ASC 605-50. The Company defers the value of benefits estimated to be redeemed in the future based on the underlying revenue transactions that result in progress by the student toward earning the benefit. The Company&#8217;s estimate of the benefits that will be redeemed in the future is based on its historical experience of student persistence toward completion of a course of study within this program and similar programs. Each quarter, the Company assesses its methodologies and assumptions underlying these estimates and, to date, any adjustments to the estimates have not been material. The amount estimated to be redeemed in the next twelve months is $10.0 million and is included in deferred revenue as a current liability in the consolidated balance sheets.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">The table below presents activity in the Graduation Fund for the years ended December 31, 2014 and 2015 (in thousands):</p>
<table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0">
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<td width="472" valign="bottom" style="background: white; padding: 0in; width: 354pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="20" valign="bottom" style="background: white; padding: 0in; width: 15pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;" colspan="3">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2014</p>
</div>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="20" valign="bottom" style="background: white; padding: 0in; width: 15pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;" colspan="3">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2015</p>
</div>
</td>
</tr>
<tr>
<td width="472" valign="bottom" style="background: #cceeff; padding: 0in; width: 354pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Balance at beginning of year</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="20" valign="bottom" style="background: #cceeff; padding: 0in; width: 15pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px;
 font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="40" valign="bottom" style="background: #cceeff; padding: 0in; width: 30pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">1,898</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="20" valign="bottom" style="background: #cceeff; padding: 0in; width: 15pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="40" valign="bottom" style="background: #cceeff; padding: 0in; width: 30pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">9,706</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="472" valign="bottom" style="background: white; padding: 0in; width: 354pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Revenue deferred</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="20" valign="bottom" style="background: white; padding: 0in; width: 15pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="40" valign="bottom" style="background: white; padding: 0in; width: 30pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">8,507</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="20" valign="bottom" style="background: white; padding: 0in; width: 15pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="40" valign="bottom" style="background: white; padding: 0in; width: 30pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">17,882</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="472" valign="bottom" style="background: #cceeff; padding: 0in; width: 354pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Benefit redeemed</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in;
 width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="20" valign="bottom" style="background: #cceeff; padding: 0in; width: 15pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="40" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 30pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(699</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="20" valign="bottom" style="background: #cceeff; padding: 0in; width: 15pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="40" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 30pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(6,651</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
</tr>
<tr>
<td width="472" valign="bottom" style="background: white; padding: 0in; width: 354pt;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Balance at end of year</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="20" valign="bottom" style="background: white; padding: 0in; width: 15pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="40" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 30pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">9,706</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="20" valign="bottom"
 style="background: white; padding: 0in; width: 15pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="40" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 30pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">20,937</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
</table>
<p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 10pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Cash and Cash Equivalents</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">Cash and cash equivalents consist of cash maintained in mostly FDIC-insured bank accounts and cash invested in bank overnight deposits and money market mutual funds. The Company places its cash and temporary cash investments with various financial institutions. The Company considers all highly liquid instruments purchased with a maturity of three months or less at the date of purchase to be cash equivalents.</p>
<p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Concentration of Credit Risk</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">The Company places its cash and temporary cash investments in bank overnight deposits and money market mutual funds with various financial institutions. Cash and cash equivalent balances are in excess of the FDIC insurance limit. The Company has not experienced any losses on its cash and cash equivalents.</p>
<p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Restricted Cash</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">A significant portion of the Company&#8217;s revenues are funded by various federal and state government programs. The Company generally does not receive funds from these programs prior to the start of the corresponding academic term. The Company may be required to return certain funds for students who withdraw from the University during the academic term. There were no amounts payable for these obligations at December 31, 2015. At December 31, 2014, the Company had approximately $0.2 million of these unpaid obligations, which are recorded as restricted cash and included in other current assets in the consolidated balance sheet.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">As part of commencing operations in Pennsylvania in 2003, the Company was required to maintain a &#8220;minimum protective endowment&#8221; of at least $0.5 million in an interest-bearing account. These funds are required as long as the Company operates its campuses in the state. The Company holds these funds in an interest-bearing account which is included in other assets.</p>
<p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Tuition Receivable and Allowance for Doubtful Accounts</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="letter-spacing: -0.1pt;">The Company records tuition receivable and deferred revenue for its students upon the start of the academic term. Therefore, at the end of the quarter (and academic term), tuition receivable represents amounts due from students for educational services
 already provided and deferred revenue represents advance payments from students for academic services to be provided in the future. Tuition receivables are not collateralized; however, credit risk is minimized as a result of the diverse nature of the University&#8217;s student base. An allowance for doubtful accounts is established primarily based upon historical collection rates by age of receivable, net of estimated recoveries. These collection rates </font><font style="letter-spacing: -0.1pt;">incorporate historical performance based on a student&#8217;s current enrollment status and likelihood of future enrollment. The Company periodically assesses its methodologies for estimating bad debts in consideration of actual experience.</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">The Company&#8217;s tuition receivable and allowance for doubtful accounts were as follows as of December 31, 2014 and 2015 (in thousands):</p>
<table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 632px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0">
<tr>
<td width="459" valign="bottom" style="background: white; padding: 0in; width: 344pt;">
<p class="tchleft" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">&#160;</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="59" valign="bottom" style="background: white; padding: 0in; width: 44pt;" colspan="3">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">2014</font></font></p>
</div>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="24" valign="bottom" style="background: white; padding: 0in; width: 0.25in;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="59" valign="bottom" style="background: white; padding: 0in; width: 44pt;" colspan="3">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">2015</font></font></p>
</div>
</td>
</tr>
<tr>
<td width="459" valign="bottom" style="background: #cceeff; padding: 0in; width: 344pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Tuition receivable</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="43" valign="bottom" style="background: #cceeff; padding: 0in; width: 32pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">25,777</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="24" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.25in;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal;
 padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="43" valign="bottom" style="background: #cceeff; padding: 0in; width: 32pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">28,543</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="459" valign="bottom" style="background: white; padding: 0in; width: 344pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Allowance for doubtful accounts</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="43" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(8,835</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="24" valign="bottom" style="background: white; padding: 0in; width: 0.25in;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="43" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(10,024</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
</tr>
<tr>
<td width="459" valign="bottom" style="background: #cceeff; padding: 0in; width: 344pt;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Tuition receivable, net</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="43" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">16,942</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="24" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.25in;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular;
 font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="43" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">18,519</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
</table>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 10pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">Approximately $1.6 million and $2.0 million of tuition receivable is included in other assets as of December 31, 2014 and 2015, respectively, because these amounts are expected to be collected after 12 months.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">The following table illustrates changes in the Company&#8217;s allowance for doubtful accounts for each of the three years ended December 31, 2015 (in thousands):</p>
<table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0">
<tr>
<td width="57%" valign="bottom" style="padding: 0in; width: 347px;">
<p class="tchleft" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">&#160;</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="padding: 0in; width: 59px;" colspan="3">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2013</p>
</div>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="padding: 0in; width: 18px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="padding: 0in; width: 56px;" colspan="3">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2014</p>
</div>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="padding: 0in; width: 18px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="padding: 0in; width: 56px;" colspan="3">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2015</p>
</div>
</td>
</tr>
<tr>
<td width="57%" valign="bottom" style="background: #cceeff; padding: 0in; width: 347px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular;
 font-size: 10pt;"><font lang="en-gb">Beginning allowance for doubtful accounts</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; width: 43px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">6,596</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 18px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; width: 42px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">10,303</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 18px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; width: 42px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">8,835</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="57%" valign="bottom" style="padding: 0in; width: 347px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Additions charged to expense</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 8px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="6%" valign="bottom" style="padding: 0in; width: 43px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">22,225</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 8px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="padding: 0in; width: 18px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color:
 black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="6%" valign="bottom" style="padding: 0in; width: 42px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">16,947</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="padding: 0in; width: 18px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="6%" valign="bottom" style="padding: 0in; width: 42px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">13,067</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="57%" valign="bottom" style="background: #cceeff; padding: 0in; width: 347px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Write-offs, net of recoveries</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 8px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="6%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 43px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(18,518</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 18px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="6%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 42px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(18,415</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family:
 timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 18px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="6%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 42px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(11,878</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
</tr>
<tr>
<td width="57%" valign="bottom" style="padding: 0in; width: 347px;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Ending allowance for doubtful accounts</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none double; padding: 0in; width: 8px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="6%" valign="bottom" style="border-style: none none double; padding: 0in; width: 43px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">10,303</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 8px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="padding: 0in; width: 18px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="6%" valign="bottom" style="border-style: none none double; padding: 0in; width: 42px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">8,835</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="padding: 0in; width: 18px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext;
 border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="6%" valign="bottom" style="border-style: none none double; padding: 0in; width: 42px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">10,024</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
</table>
<p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 10pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Property and Equipment</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">Property and equipment are stated at cost less accumulated depreciation and amortization. In accordance with the Property, Plant and Equipment Topic, ASC 360, the carrying values of the Company&#8217;s assets are re-evaluated when events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If it is determined that an impairment loss has occurred based on expected undiscounted future cash flows, then a loss is recognized using a fair value-based model. Through 2015, no such impairment loss had occurred. Depreciation and amortization of property and equipment is calculated using the straight-line method over the estimated useful lives ranging from 3 to 40 years. Depreciation and amortization amounted to $35.6 million, $20.6 million and $18.1 million for the years ended December 31, 2013, 2014, and 2015, respectively.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">Construction in progress includes costs of computer software developed for internal use, which is accounted for in accordance with the Internal-Use Software Topic, ASC 350-40. Computer software development costs that are incurred in the preliminary project stage are expensed as incurred. During the development stage, direct consulting costs, payroll, and payroll-related costs for employees that are directly associated with the project are capitalized and will be amortized over the estimated useful life of the software once placed into operation. Purchases of property and equipment and changes in accounts payable for each of the three years in the period ended December 31, 2015 in the Consolidated Statements of Cash Flows have been adjusted to exclude non-cash purchases of property and equipment transactions during that period.</p>
<p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Fair Value</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">The Fair Value Measurement Topic, ASC 820-10 (&#8220;ASC 820-10&#8221;), establishes a framework for measuring fair value, establishes a fair value hierarchy based upon the observability of inputs used to measure fair value, and expands disclosures about fair value measurements. Assets and liabilities are classified in their entirety within the fair value hierarchy based on the lowest level input that is significant to the fair value measurement. Under ASC 820-10, fair value of an investment is the price that would be received to sell an asset or to transfer a liability to an entity in an orderly transaction between market participants at the measurement date. The hierarchy gives the highest priority to assets and liabilities with readily available quoted prices in an active market and lowest priority to unobservable inputs which require a higher degree of judgment when measuring fair value, as follows:</p>
<p class="blm" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt 40pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 13pt;">&#8226;</font></font><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;</font></font>&#160;Level 1 assets or liabilities use quoted prices in active markets for identical assets or liabilities as of the measurement date;</p>
<p class="blm" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt 40pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 13pt;">&#8226;</font></font><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;</font></font>&#160;Level 2 assets or liabilities use observable inputs, other than quoted market prices, that are either directly or indirectly observable in the marketplace for identical or similar assets and liabilities; and</p>
<p class="blm" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 7pt 0in 0pt 40pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px;
 white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 13pt;">&#8226;</font></font><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;</font></font>&#160;Level 3 assets or liabilities use unobservable inputs that are supported by little or no market activity.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 7pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">The Company&#8217;s assets and liabilities that are subject to fair value measurement are categorized in one of the three levels above. Fair values are based on the inputs available at the measurement dates, and may rely on certain assumptions that may affect the valuation of fair value for certain assets or liabilities.</p>
<p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Goodwill and Indefinite-Lived Intangible Assets</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 7pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">Goodwill represents the excess of the purchase price of an acquired business over the amount assigned to the assets acquired and liabilities assumed. Indefinite-lived intangible assets, which include a trade name, are recorded at fair market value on their acquisition date. An indefinite life was assigned to the trade name because it has the continued ability to generate cash flows indefinitely.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 7pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">Goodwill and the indefinite-lived intangible asset are assessed at least annually for impairment during the three-month period ending September 30, or more frequently if events occur or circumstances change between annual tests that would more likely than not reduce the fair value of the respective reporting unit below its carrying amount. Under Accounting Standards Update No. 2011-08,&#160;<font class="italic" style="font-style: italic;">Intangibles-Goodwill and Other (Topic 350): Testing Goodwill for Impairment</font>, the Company is permitted, but not required, to first assess qualitative factors to determine whether it is necessary to perform the more thorough quantitative goodwill impairment test. Following its qualitative assessment, the Company determined it was not more likely than not that the fair value of its goodwill was less than the carrying amount and, accordingly, no impairment existed in 2015.</p>
<p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 13pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Long-Term Liabilities</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 7pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">Included in the Company&#8217;s long-term liabilities are amounts related to the Company&#8217;s operating leases, deferred payments related to an acquisition completed in 2011, the fair value of the Company&#8217;s interest rate swap, and the non-current portion of deferred revenue. In conjunction with the opening of some campuses and other facilities, the Company was reimbursed by the lessors for improvements made to those leased properties. In accordance with the Operating Leases Subtopic, ASC 840-20 (&#8220;ASC 840-20&#8221;), these underlying assets were capitalized as leasehold improvements and a liability was established for the reimbursements. The leasehold improvements and the liability are amortized on a straight-line basis over the corresponding lease terms, which generally range from five to ten years. In accordance with ASC 840-20, the Company records rent expense on a straight-line basis over the initial term of a lease. The cumulative difference between the rent payment and the straight-line rent expense is recorded as a liability. The Company also records the non-current portion of the gain related to the sale and lease back of a campus facility as a long-term liability.</p>
<p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Accounting for Derivative Instruments and Hedging Activities</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 7pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">On the date that the Company enters into a derivative contract, it designates the derivative as a hedge of (a) a forecasted transaction or (b) the variability of cash flows that are to be received or paid in connection with a recognized asset or liability (a cash flow hedge). All derivatives are recognized in the balance sheet at their fair value.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 7pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">Changes in the fair value of a derivative that is highly effective and that is designated and qualifies as a cash flow hedge, to the extent that the hedge is effective, are recorded, net of income tax, in
 other comprehensive income, until earnings are affected by the variability of cash flows of the hedged transaction (e.g., until periodic settlements of a variable-rate asset or liability are recorded in earnings). Any hedge ineffectiveness (which represents the amount by which the changes in the fair value of the derivative exceed the variability in the cash flows of the forecasted transaction) is recorded in current-period earnings.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 7pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">The Company formally documents all relationships between hedging instruments and hedged items, as well as its risk-management objective and strategy for undertaking various hedge transactions. The Company also formally assesses (both at the hedge&#8217;s inception and on an ongoing basis) whether the derivatives that are used in hedging transactions have been highly effective in offsetting changes in the fair value or cash flows of hedged items and whether those derivatives may be expected to remain highly effective in future periods. When it is determined that a derivative is not (or has ceased to be) highly effective as a hedge, the Company discontinues hedge accounting prospectively.</p>
<p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Authorized Stock</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">The Company has authorized 20,000,000 shares of common stock, par value $.01, of which 10,903,341 and 11,027,177 shares were issued and outstanding as of December 31, 2014 and 2015, respectively. The Company also has authorized 8,000,000 shares of preferred stock, none of which has been issued or outstanding since 2004. Before any preferred stock may be issued in the future, the Board of Directors would need to establish the preferences, conversion or other rights, voting powers, restrictions, limitations as to dividends, qualifications, and the terms or conditions of the redemption of the preferred stock.</p>
<p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Advertising Costs</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">The Company expenses advertising costs in the quarter incurred, except for costs associated with the production of media commercials which are expensed when the commercial is first aired.</p>
<p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Stock-Based Compensation</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">As required by the Stock Compensation Topic, ASC 718, the Company measures and recognizes compensation expense for all share-based payment awards made to employees and directors, including employee stock options, restricted stock, restricted stock units, and employee stock purchases related to the Company&#8217;s Employee Stock Purchase Plan, based on estimated fair values. Stock-based compensation expense recognized in the Consolidated Statements of Income for each of the three years in the period ended December 31, 2015 is based on awards ultimately expected to vest and, therefore, has been adjusted for estimated forfeitures. The Company is required to estimate forfeitures at the time of grant and revise the estimate, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The forfeiture rate used is based on historical experience. The Company also assesses the likelihood that performance criteria associated with performance-based awards will be met. If it is determined that it is more likely than not that performance criteria will not be achieved, the Company revises its estimate of the number of shares it believes will ultimately vest.</p>
<p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Net Income Per Share</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">Basic earnings per share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the periods. Diluted earnings per share reflects the potential dilution that could occur assuming conversion or exercise of all dilutive unexercised stock options, restricted stock and restricted stock units. The dilutive effect of stock awards was determined using the treasury stock method. Under the treasury stock method, all of the following are assumed to be used to repurchase shares of the Company&#8217;s common stock: (1) the proceeds received from the exercise of stock options, (2) the amount of compensation cost associated with the stock awards for future service not yet
 recognized by the Company, and (3) the amount of tax benefits that would be recorded in additional paid-in capital when the stock awards become deductible for income tax purposes. Stock options are not included in the computation of diluted earnings per share when the stock option exercise price of an individual grant exceeds the average market price for the period. During the year ended December 31, 2015, the Company had no issued and outstanding stock options that were excluded from the calculation.&#160;<font style="letter-spacing: -0.05pt;">Set forth below is a reconciliation of shares used to calculate basic and diluted earnings per share for each of the three years ended December 31, 2015 (in thousands):</font></p>
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<tr>
<td width="60%" valign="bottom" style="padding: 0in; width: 364px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="padding: 0in; width: 48px;">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2013</p>
</div>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="padding: 0in; width: 23px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="padding: 0in; width: 48px;">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2014</p>
</div>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="padding: 0in; width: 22px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="padding: 0in; width: 47px;">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2015</p>
</div>
</td>
</tr>
<tr>
<td width="60%" valign="bottom" style="background: #cceeff; padding: 0in; width: 364px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Weighted average shares outstanding used to compute basic earnings per share</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 48px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">10,584</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 23px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 48px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black;
 line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">10,561</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 22px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 47px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">10,588</p>
</td>
</tr>
<tr>
<td width="60%" valign="bottom" style="padding: 0in; width: 364px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Incremental shares issuable upon the assumed exercise of stock<br />options</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="padding: 0in; width: 48px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="padding: 0in; width: 23px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="padding: 0in; width: 48px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">6</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="padding: 0in; width: 22px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="padding: 0in; width: 47px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">6</p>
</td>
</tr>
<tr>
<td width="60%" valign="bottom" style="background: #cceeff; padding: 0in; width: 364px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Unvested restricted stock and restricted stock units</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 48px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">40</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 23px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 48px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt;
 padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">83</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 22px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 47px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">146</p>
</td>
</tr>
<tr>
<td width="60%" valign="bottom" style="padding: 0in; width: 364px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Shares used to compute diluted earnings per share</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="border-style: none none double; padding: 0in; width: 48px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">10,624</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="padding: 0in; width: 23px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="border-style: none none double; padding: 0in; width: 48px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">10,650</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="padding: 0in; width: 22px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="border-style: none none double; padding: 0in; width: 47px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">10,740</p>
</td>
</tr>
</table>
<p></p>
<p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Income Taxes</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">The Company provides for deferred income taxes based on temporary differences between financial statement and income tax bases of assets and liabilities using enacted tax rates in effect in the year in which the differences are expected to reverse.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">The Income Taxes Topic, ASC 740, requires the company to determine whether uncertain tax positions should be recognized within the Company&#8217;s financial statements. The Company recognizes interest and penalties, if any, related to uncertain tax positions in income tax expense. Uncertain tax positions are recognized when a tax position, based solely on its technical merits, is determined to be more likely than not to be sustained upon examination. Upon determination, uncertain tax positions
 are measured to determine the amount of benefit that is greater than 50% likely to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. A tax position is derecognized if it no longer meets the more likely than not threshold of being sustained.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">The tax years 2012-2015 remain open for Federal tax examination and the tax years 2011-2015 remain open to examination by state and local taxing jurisdictions in which the Company is subject.</p>
<p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Use of Estimates</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of expenses during the period reported. The most significant management estimates included allowances for doubtful accounts, the useful lives of property and equipment, fair value of future contractual operating lease obligations, potential sublease income and vacancy periods, accrued expenses, forfeiture rates and the likelihood of achieving performance criteria for stock-based awards, value of free courses earned by students that will be redeemed in the future, valuation of goodwill, intangible assets and the interest rate swap arrangement, and the provision for income taxes. Actual results could differ from those estimates.</p>
<p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Comprehensive Income</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">Comprehensive income consists of net income and the change in the fair value of the Company&#8217;s interest rate swap, net of income taxes.</p>
<p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Recent Accounting Pronouncements</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">In May 2014, the FASB issued ASU No. 2014-09, &#8220;Revenue from Contracts with Customers (Topic 606)&#8221; (&#8220;ASU 2014-09&#8221;). The standard establishes a new recognition model that requires revenue to be recognized in a manner to depict the transfer of goods or services to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services. ASU 2014-09 is effective for fiscal years beginning after December 15, 2017. The Company currently is evaluating the impact that the standard will have on its financial condition, results of operations, and disclosures.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">In April 2015, the FASB issued ASU No. 2015-03, &#8220;Interest - Imputation of Interest (Subtopic 835-30)&#8221; (&#8220;ASU 2015-03&#8221;). The new guidance requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 is effective for financial statements issued for fiscal years beginning after December 15, 2015. The new guidance will be applied on a retrospective basis, and early adoption is permitted. The Company currently is evaluating the impact that the standard will have on its financial condition, results of operations, and disclosures.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">In November 2015, the FASB issued ASU No. 2015-17, &#8220;Balance Sheet Classification of Deferred Taxes&#8221; (&#8220;ASU 2015-17&#8221;). The new guidance requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The amendments in ASU 2015-17 are effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. The Company intends to adopt the standard during the first quarter of 2016.</p><span></span>
</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6764458688">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Restructuring and Related Charges<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock', window );">Restructuring and Related Charges</a></td>
<td class="text"><p class="h2note" style="color: black; font-style: normal; font-variant: normal; letter-spacing: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 12pt 0in 0.0001pt 20pt; text-indent: -20pt; line-height: 12pt; page-break-after: avoid; font-size: 10pt; font-family: timesnewromanpsstd-bold; font-weight: bold;"><font class="bold" style="font-weight: bold;">3.</font><font class="bold" style="font-weight: bold;"><font style="font-size: 8.5pt;">&#160;&#160;&#160;&#160;</font>&#160;Restructuring and Related Charges</font></p>
<p class="textind" style="color: black; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 6pt 0in 0.0001pt; text-indent: 20pt; line-height: 12pt; font-size: 10pt; font-family: timesnewromanpsstd-regular;">In October 2013, the Company implemented a restructuring to better align the Company&#8217;s resources with its current student enrollments. This restructuring included the closing of 20 physical locations and reductions in the number of campus-based and corporate employees.</p>
<p class="textind" style="color: black; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 6pt 0in 10pt; text-indent: 20pt; line-height: 12pt; font-size: 10pt; font-family: timesnewromanpsstd-regular;">T<font style="font-family: 'times new roman', times, serif;">he following details the changes in the Company&#8217;s restructuring liability by type of cost during the three years ended December 31, 2015 (in thousands):</font></p>
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<p class="tchleft" style="margin: 0in 0in 0.0001pt; line-height: normal; border: none; padding: 0in; font-size: 8pt; font-family: timesnewromanpsstd-bold; color: black; font-weight: bold;"></p>
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<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
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<td width="64" valign="bottom" style="width: 48pt; padding: 0in; background: white;" colspan="3">
<div style="border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in;">
<p class="tch" style="margin: 0in 0in 0.0001pt; line-height: normal; border: none; padding: 0in 0in 0pt; text-align: center; font-size: 8pt; font-family: timesnewromanpsstd-bold; color: black; font-weight: bold;"><font lang="en-gb">Lease<br />and Related<br />Costs, Net</font></p>
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<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
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<td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
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<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
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<td width="89" valign="bottom" style="width: 67pt; padding: 0in; background: white;" colspan="3">
<div style="border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in;">
<p class="tch" style="margin: 0in 0in 0.0001pt; line-height: normal; border: none; padding: 0in 0in 0pt; text-align: center; font-size: 8pt; font-family: timesnewromanpsstd-bold; color: black; font-weight: bold;"><font lang="en-gb">Severance<br />and Other<br />Employee<br />Separation Costs</font></p>
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<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
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<td width="64" valign="bottom" style="width: 48pt; padding: 0in; background: white;" colspan="3">
<div style="border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in;">
<p class="tch" style="margin: 0in 0in 0.0001pt; line-height: normal; border: none; padding: 0in 0in 0pt; text-align: center; font-size: 8pt; font-family: timesnewromanpsstd-bold; color: black; font-weight: bold;">Total</p>
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<td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: #cceeff;">
<p class="tbody" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 10pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">Balance at December 31, 2012</p>
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<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p align="left" class="tbodyrightalign" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">$</p>
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<td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: #cceeff;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#8212;</p>
</td>
<td width="8" valign="bottom" style="width: 6pt;
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<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p align="left" class="tbodyrightalign" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">$</p>
</td>
<td width="73" valign="bottom" style="width: 55pt; padding: 0in; background: #cceeff;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#8212;</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p align="left" class="tbodyrightalign" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">$</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: #cceeff;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#8212;</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: white;">
<p class="tbodyind1" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 20pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"><font lang="en-gb">Restructuring and other charges<font class="superscript" style="font-size: 6pt; vertical-align: super;">(1)</font></font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: white;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">47,792</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="73" valign="bottom" style="width: 55pt; padding: 0in; background: white;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">6,898</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold;
 color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: white;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">54,690</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: #cceeff;">
<p class="tbodyind1" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 20pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">Payments</p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: #cceeff;">
<p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">(103</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p align="left" class="tbodybracket" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">)</p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="73" valign="bottom" style="width: 55pt; padding: 0in; background: #cceeff;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">(6,120</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p align="left" class="tbodyrule1" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">)</p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: #cceeff;">
<p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">(6,223</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p align="left" class="tbodybracket" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">)</p>
</td>
</tr>
<tr>
<td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: white;">
<p class="tbodyind1" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 20pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"><font lang="en-gb">Adjustments<font class="superscript" style="font-size: 6pt; vertical-align: super;">(2)</font></font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;">
<p class="tbodyrule1brack" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size:
 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;">
<p class="tbodyrule1brack" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">(5,139</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p align="left" class="tbodyrule1brack" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">)</p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="73" valign="bottom" style="width: 55pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">1,438</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;">
<p class="tbodyrule1brack" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;">
<p class="tbodyrule1brack" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">(3,701</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p align="left" class="tbodyrule1brack" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">)</p>
</td>
</tr>
<tr>
<td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: #cceeff;">
<p class="tbody" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 10pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">Balance at December 31, 2013<font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 6pt; line-height: normal; font-family: timesnewromanpsstd-bold;"><sup>(1)</sup></font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; border: none; padding: 0in; background: #cceeff;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; border: none; padding: 0in; background: #cceeff;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">42,550</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font
 style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; border: none; padding: 0in; background: #cceeff;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="73" valign="bottom" style="width: 55pt; border: none; padding: 0in; background: #cceeff;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">2,216</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; border: none; padding: 0in; background: #cceeff;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; border: none; padding: 0in; background: #cceeff;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">44,766</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: white;">
<p class="tbodyind1" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 20pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">Payments</p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: white;">
<p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">(12,418</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p align="left" class="tbodybracket" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">)</p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="73" valign="bottom" style="width: 55pt; padding: 0in; background: white;">
<p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">(2,138</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p align="left" class="tbodybracket" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">)</p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: white;">
<p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">(14,556</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p align="left" class="tbodybracket" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">)</p>
</td>
</tr>
<tr>
<td width="352" valign="bottom" style="width: 264pt; padding: 0in;
 background: #cceeff;">
<p class="tbodyind1" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 20pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"><font lang="en-gb">Adjustments<font class="superscript" style="font-size: 6pt; vertical-align: super;">(2)</font></font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;">
<p class="tbodyrule1brack" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;">
<p class="tbodyrule1brack" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">(2,849</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p align="left" class="tbodyrule1brack" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">)</p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="73" valign="bottom" style="width: 55pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">(78</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p align="left" class="tbodyrule1" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">)</p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;">
<p class="tbodyrule1brack" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;">
<p class="tbodyrule1brack" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">(2,927</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p align="left" class="tbodyrule1brack" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">)</p>
</td>
</tr>
<tr>
<td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: white;">
<p class="tbody" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 10pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">Balance at December 31, 2014<font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 6pt; line-height: normal; font-family: timesnewromanpsstd-bold;"><sup>(1)</sup></font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; border: none; padding: 0in; background: white;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; border: none; padding: 0in; background: white;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">27,283</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font
 style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; border: none; padding: 0in; background: white;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="73" valign="bottom" style="width: 55pt; border: none; padding: 0in; background: white;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#8212;</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; border: none; padding: 0in; background: white;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; border: none; padding: 0in; background: white;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">27,283</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: #cceeff;">
<p class="tbodyind1" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 20pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">Payments</p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: #cceeff;">
<p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">(7,754</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p align="left" class="tbodybracket" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">)</p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="73" valign="bottom" style="width: 55pt; padding: 0in; background: #cceeff;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#8212;</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family:
 timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: #cceeff;">
<p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">(7,754</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p align="left" class="tbodybracket" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">)</p>
</td>
</tr>
<tr>
<td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: white;">
<p class="tbodyind1" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 20pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"><font lang="en-gb">Adjustments<font class="superscript" style="font-size: 6pt; vertical-align: super;">(2)</font></font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">526</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="73" valign="bottom" style="width: 55pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#8212;</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">526</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: #cceeff;">
<p class="tbody" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 10pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">Balance at December 31, 2015<font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 6pt; line-height: normal; font-family: timesnewromanpsstd-bold;"><sup>(1)</sup></font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in
 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in; background: #cceeff;">
<p align="left" class="tbodyrule2" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">$</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in; background: #cceeff;">
<p class="tbodyrule2" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">20,055</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in; background: #cceeff;">
<p align="left" class="tbodyrule2" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">$</p>
</td>
<td width="73" valign="bottom" style="width: 55pt; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in; background: #cceeff;">
<p class="tbodyrule2" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#8212;</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in; background: #cceeff;">
<p align="left" class="tbodyrule2" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">$</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in; background: #cceeff;">
<p class="tbodyrule2" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">20,055</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
</tr>
</table>
<p class="tablefootnotef" style="color: black; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 0in 0in 0.0001pt 20pt; border: none; text-indent: -20pt; padding: 0in; font-size: 8pt; font-family: timesnewromanpsstd-regular;">____________</p>
<p class="tablefootnotef" style="color: black; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 0in 0in 0.0001pt 20pt; border: none; text-indent: -20pt; padding: 0in; font-size: 8pt; font-family: timesnewromanpsstd-regular;">(1)<font style="font-size: 8.5pt;">&#160;&#160;&#160;</font>&#160;The current portion of restructuring liabilities was $6.0 million and $4.8 million as of December 31, 2014 and December 31, 2015, respectively, which are included in accounts payable and accrued expenses. The long-term portion is included in other long-term liabilities.</p>
<p class="tablefootnotem" style="color: black; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 1pt 0in 0.0001pt 20pt; text-indent: -20pt; line-height: 10pt; font-size: 8pt; font-family: timesnewromanpsstd-regular;">(2)<font style="font-size: 8.5pt;">&#160;&#160;&#160;</font>&#160;Adjustments for lease and related costs include accretion of interest on lease costs, partially offset by changes in the timing and expected income from sublease agreements signed during the period. Adjustments for severance and other employee separation costs include amounts related to employees who were re-hired to other roles within the Company and were not paid severance.</p>
<p class="textind" style="color: black; font-style:
 normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 6pt 0in 0.0001pt; text-indent: 20pt; line-height: 12pt; font-size: 10pt; font-family: timesnewromanpsstd-regular;"><font class="bolditalic" style="font-weight: bold; font-style: italic;">Lease and Related Costs, Net</font>&#160;<font class="italic" style="font-style: italic;">&#8212;</font>&#160;The Company recorded approximately $36.0 million of aggregate charges representing the estimated fair value of future contractual operating lease obligations, which were recorded in the fourth quarter of 2013, when the Company ceased using the respective facilities. Lease obligations, some of which continue through 2022, are measured at fair value using a discounted cash flow approach encompassing significant unobservable inputs (Level 3). The estimation of future cash flows includes non-cancelable contractual lease costs over the remaining terms of the leases discounted at the Company&#8217;s marginal borrowing rate of 4.5%, partially offset by estimated future sublease rental income, which involves significant judgment. The Company&#8217;s estimate of the amount and timing of sublease rental income considers subleases that have been executed and subleases expected to be executed based on current commercial real estate market data and conditions, and other qualitative factors specific to the facilities. The estimates are subject to adjustment as market conditions change or as new information becomes available, including the execution of additional sublease agreements.</p>
<p class="textind" style="color: black; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 6pt 0in 0.0001pt; text-indent: 20pt; line-height: 12pt; font-size: 10pt; font-family: timesnewromanpsstd-regular;"><font class="bolditalic" style="font-weight: bold; font-style: italic;">Severance and Other Employee Separation Costs</font>&#160;&#8212; The Company implemented workforce reductions in order to better align its human capital resources with the evolving needs of students. A total of $6.9 million in severance and other employee separation costs were recorded in the year ended December 31, 2013, all of which has subsequently been paid.</p><span></span>
</td>
</tr>
</table>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 420<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB TOPIC 5.P.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=27011515&amp;loc=d3e140904-122747<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 420<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 5.P.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=27011515&amp;loc=d3e140864-122747<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 420<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6394359&amp;loc=d3e17939-110869<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 5<br> -Section P<br> -Subsection 3, 4<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6741282400">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Property and Equipment<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock', window );">Property and Equipment</a></td>
<td class="text"><p class="h2note" style="font: bold 10pt/12pt timesnewromanpsstd-bold; margin: 11.6pt 0in 0pt 20pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"><font class="bold" style="font-weight: bold;"><font style="font-size: 9.5pt;">4.</font></font><font class="bold" style="font-weight: bold;"><font style="font-size: 8.5pt;">&#160;&#160;&#160;&#160;</font></font>&#160;<font class="bold" style="font-weight: bold;"><font style="font-size: 9.5pt;">Property and Equipment</font></font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 5.8pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"><font style="font-size: 9.5pt;">The composition of property and equipment as of December 31, 2014 and 2015 is as follows (in thousands):</font></p>
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<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2014</p>
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<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="68" valign="bottom" style="background: white; padding: 0in; width: 51pt;" colspan="3">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2015</p>
</div>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="96" valign="bottom" style="background: white; padding: 0in; width: 1in;">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font lang="en-gb">Estimated useful<br />life (years)</font></p>
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</td>
</tr>
<tr>
<td width="360" valign="bottom" style="background: #cceeff; padding: 0in; width: 3.75in;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Land</p>
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<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="52" valign="bottom" style="background: #cceeff; padding: 0in; width: 39pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">7,138</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="52" valign="bottom" style="background: #cceeff; padding: 0in; width: 39pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">7,138</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p
 class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="96" valign="bottom" style="background: #cceeff; padding: 0in; width: 1in;">
<p class="tbodycenteralign" style="margin: 0in 0in 0pt; text-align: center; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
</tr>
<tr>
<td width="360" valign="bottom" style="background: white; padding: 0in; width: 3.75in;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Buildings and improvements</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="52" valign="bottom" style="background: white; padding: 0in; width: 39pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">18,998</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="52" valign="bottom" style="background: white; padding: 0in; width: 39pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">19,109</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="96" valign="bottom" style="background: white; padding: 0in; width: 1in;">
<p class="tbodycenteralign" style="margin: 0in 0in 0pt; text-align: center; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">5&#8211;40</p>
</td>
</tr>
<tr>
<td width="360" valign="bottom" style="background: #cceeff; padding: 0in; width: 3.75in;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Furniture, equipment, and computer hardware and software</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="52" valign="bottom" style="background: #cceeff; padding: 0in; width: 39pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">153,417</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="52" valign="bottom" style="background: #cceeff; padding: 0in; width: 39pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">150,597</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font
 style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="96" valign="bottom" style="background: #cceeff; padding: 0in; width: 1in;">
<p class="tbodycenteralign" style="margin: 0in 0in 0pt; text-align: center; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">5&#8211;10</p>
</td>
</tr>
<tr>
<td width="360" valign="bottom" style="background: white; padding: 0in; width: 3.75in;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Leasehold improvements</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="52" valign="bottom" style="background: white; padding: 0in; width: 39pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">38,732</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="52" valign="bottom" style="background: white; padding: 0in; width: 39pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">38,639</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="96" valign="bottom" style="background: white; padding: 0in; width: 1in;">
<p class="tbodycenteralign" style="margin: 0in 0in 0pt; text-align: center; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">3&#8211;10</p>
</td>
</tr>
<tr>
<td width="360" valign="bottom" style="background: #cceeff; padding: 0in; width: 3.75in;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Construction in progress</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="52" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 39pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">1,942</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="52" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 39pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">4,251</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family:
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<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="96" valign="bottom" style="background: #cceeff; padding: 0in; width: 1in;">
<p class="tbodycenteralign" style="margin: 0in 0in 0pt; text-align: center; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
</tr>
<tr>
<td width="360" valign="bottom" style="background: white; padding: 0in; width: 3.75in;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="8" valign="bottom" style="background: white; padding: 0in; border: currentcolor; border-image: none; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="52" valign="bottom" style="background: white; padding: 0in; border: currentcolor; border-image: none; width: 39pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">220,227</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; border: currentcolor; border-image: none; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
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<td width="52" valign="bottom" style="background: white; padding: 0in; border: currentcolor; border-image: none; width: 39pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">219,734</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="96" valign="bottom" style="background: white; padding: 0in; width: 1in;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="360" valign="bottom" style="background: #cceeff; padding: 0in; width: 3.75in;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Accumulated depreciation and amortization</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="52" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 39pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(137,961</p>
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<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="52" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 39pt;
 border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(142,595</p>
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<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="96" valign="bottom" style="background: #cceeff; padding: 0in; width: 1in;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<tr>
<td width="360" valign="bottom" style="background: white; padding: 0in; width: 3.75in;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="8" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="52" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 39pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">82,266</p>
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<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="8" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
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<td width="52" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 39pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
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<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="96" valign="bottom" style="background: white; padding: 0in; width: 1in;">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair Value Measurement<br></strong></div></th>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<p class="textind" style="color: black; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 5.8pt 0in 10pt; text-indent: 20pt; line-height: 12pt; font-size: 10pt; font-family: timesnewromanpsstd-regular;"><font style="font-size: 9.5pt;">Assets and liabilities measured at fair value on a recurring basis consist of the following as of December 31, 2015 (in thousands):</font></p>
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<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
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<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
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<td width="2%" valign="bottom" style="width: 14px; padding: 0in;">
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<td width="46%" valign="bottom" style="width: 279px; padding: 0in;" colspan="12">
<div style="border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in;">
<p class="tch" style="margin: 0in 0in 0.0001pt; line-height: normal; border: none; padding: 0in 0in 0pt; text-align: center; font-size: 8pt; font-family: timesnewromanpsstd-bold; color: black; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">Fair Value Measurements at Reporting Date Using</font></font></p>
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</tr>
<tr>
<td width="35%" valign="bottom" style="width: 215px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
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<td width="1%" valign="bottom" style="width: 9px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
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<td width="10%" valign="bottom" style="width: 65px; padding: 0in;" colspan="2">
<div style="border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in;">
<p class="tch" style="margin: 0in 0in 0.0001pt; line-height: normal; border: none; padding: 0in 0in 0pt; text-align: center; font-size: 8pt; font-family: timesnewromanpsstd-bold; color: black; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">December 31, 2015</font></font></p>
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<td width="1%" valign="bottom" style="width: 9px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
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<td width="2%" valign="bottom" style="width: 14px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
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<td width="1%" valign="bottom" style="width: 9px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
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<td width="14%" valign="bottom" style="width: 85px; padding: 0in;" colspan="2">
<div style="border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in;">
<p class="tch" style="margin: 0in 0in 0.0001pt; line-height: normal; border: none; padding: 0in 0in 0pt; text-align: center; font-size: 8pt; font-family: timesnewromanpsstd-bold; color: black; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)</font></font></p>
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<td width="1%" valign="bottom" style="width: 9px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family:
 timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="width: 14px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
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<td width="1%" valign="bottom" style="width: 9px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
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<td width="10%" valign="bottom" style="width: 63px; padding: 0in;" colspan="2">
<div style="border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in;">
<p class="tch" style="margin: 0in 0in 0.0001pt; line-height: normal; border: none; padding: 0in 0in 0pt; text-align: center; font-size: 8pt; font-family: timesnewromanpsstd-bold; color: black; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">Significant<br />Other<br />Observable<br />Inputs<br />(Level 2)</font></font></p>
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<td width="1%" valign="bottom" style="width: 9px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
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<td width="2%" valign="bottom" style="width: 14px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
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<td width="1%" valign="bottom" style="width: 9px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
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<td width="10%" valign="bottom" style="width: 67px; padding: 0in;" colspan="2">
<div style="border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in;">
<p class="tch" style="margin: 0in 0in 0.0001pt; line-height: normal; border: none; padding: 0in 0in 0pt; text-align: center; font-size: 8pt; font-family: timesnewromanpsstd-bold; color: black; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">Significant Unobservable Inputs<br />(Level 3)</font></font></p>
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</tr>
<tr>
<td width="35%" valign="bottom" style="width: 215px; padding: 0in; background: #cceeff;">
<p class="tbody" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 10pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">Assets:</font></font></p>
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<td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
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<td width="1%" valign="bottom" style="width: 7px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
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<td width="9%" valign="bottom" style="width: 58px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
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<td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
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<td width="2%" valign="bottom" style="width: 14px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 7px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="12%" valign="bottom" style="width: 78px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="width: 14px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
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<td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 7px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family:
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<td width="9%" valign="bottom" style="width: 56px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="width: 14px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 7px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="width: 60px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="width: 215px; padding: 0in;">
<p class="tbody" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 10pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">Cash equivalents:</p>
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<td width="1%" valign="bottom" style="width: 9px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 7px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="width: 58px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="width: 14px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 7px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="12%" valign="bottom" style="width: 78px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="width: 14px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 7px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="width: 56px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="width: 14px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width:
 9px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 7px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="width: 60px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="width: 215px; padding: 0in; background: #cceeff;">
<p class="tbodyind1" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 20pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">Money market funds</p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 7px; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;">
<p align="left" class="tbodyrule1" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">$</p>
</td>
<td width="9%" valign="bottom" style="width: 58px; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">100</p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="width: 14px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 7px; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;">
<p align="left" class="tbodyrule1" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">$</p>
</td>
<td width="12%" valign="bottom" style="width: 78px; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">100</p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="width: 14px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 7px; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;">
<p align="left" class="tbodyrule1" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">$</p>
</td>
<td width="9%" valign="bottom" style="width: 56px; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="width: 14px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 7px; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in;
 background: #cceeff;">
<p align="left" class="tbodyrule1" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">$</p>
</td>
<td width="9%" valign="bottom" style="width: 60px; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#8212;</p>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="width: 215px; padding: 0in;">
<p class="tbodyind1" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 20pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"><font lang="en-gb">Total assets at fair value on a recurring basis</font></p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 7px; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in;">
<p align="left" class="tbodyrule2" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">$</p>
</td>
<td width="9%" valign="bottom" style="width: 58px; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in;">
<p class="tbodyrule2" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">100</p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="width: 14px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 7px; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in;">
<p align="left" class="tbodyrule2" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">$</p>
</td>
<td width="12%" valign="bottom" style="width: 78px; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in;">
<p class="tbodyrule2" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">100</p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="width: 14px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 7px; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in;">
<p align="left" class="tbodyrule2" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">$</p>
</td>
<td width="9%" valign="bottom" style="width: 56px; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in;">
<p class="tbodyrule2" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="width: 14px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 7px; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in;">
<p align="left" class="tbodyrule2" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">$</p>
</td>
<td width="9%" valign="bottom" style="width: 60px; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in;">
<p class="tbodyrule2" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size:
 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#8212;</p>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="width: 215px; padding: 0in; background: #cceeff;">
<p class="tbody" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 10pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">Liabilities:</font></font></p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 7px; border: none; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="width: 58px; border: none; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="width: 14px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 7px; border: none; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="12%" valign="bottom" style="width: 78px; border: none; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="width: 14px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 7px; border: none; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="width: 56px; border: none; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="width: 14px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 7px; border: none; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="width: 60px; border: none; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="width: 215px; padding: 0in;">
<p class="tbody" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 10pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">Other long-term liabilities:</p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family:
 minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 7px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="width: 58px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="width: 14px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 7px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="12%" valign="bottom" style="width: 78px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="width: 14px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 7px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="width: 56px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="width: 14px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 7px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="width: 60px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="width: 215px; padding: 0in; background: #cceeff;">
<p class="tbodyind1" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 20pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">Deferred payments</p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 7px; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;">
<p align="left" class="tbodyrule1" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">$</p>
</td>
<td width="9%" valign="bottom" style="width: 58px; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">3,278</p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family:
 minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="width: 14px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 7px; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;">
<p align="left" class="tbodyrule1" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">$</p>
</td>
<td width="12%" valign="bottom" style="width: 78px; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="width: 14px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 7px; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;">
<p align="left" class="tbodyrule1" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">$</p>
</td>
<td width="9%" valign="bottom" style="width: 56px; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="width: 14px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 7px; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;">
<p align="left" class="tbodyrule1" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">$</p>
</td>
<td width="9%" valign="bottom" style="width: 60px; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">3,278</p>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="width: 215px; padding: 0in;">
<p class="tbodyind1" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 20pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"><font lang="en-gb">Total liabilities at fair value on a recurring basis</font></p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 7px; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in;">
<p align="left" class="tbodyrule2" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">$</p>
</td>
<td width="9%" valign="bottom" style="width: 58px; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in;">
<p class="tbodyrule2" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">3,278</p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="width: 14px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in
 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 7px; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in;">
<p align="left" class="tbodyrule2" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">$</p>
</td>
<td width="12%" valign="bottom" style="width: 78px; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in;">
<p class="tbodyrule2" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="width: 14px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 7px; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in;">
<p align="left" class="tbodyrule2" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">$</p>
</td>
<td width="9%" valign="bottom" style="width: 56px; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in;">
<p class="tbodyrule2" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="width: 14px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 9px; padding: 0in;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="width: 7px; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in;">
<p align="left" class="tbodyrule2" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">$</p>
</td>
<td width="9%" valign="bottom" style="width: 60px; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in;">
<p class="tbodyrule2" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">3,278</p>
</td>
</tr>
</table>
<div>&#160;</div>
<div>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 5.8pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"><font style="font-size: 9.5pt;">Assets and liabilities measured at fair value on a recurring basis consist of the following as of December 31, 2014 (in thousands):</font></p>
<table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0">
<tr>
<td width="35%" valign="bottom" style="padding: 0in; width: 211px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="10%" valign="bottom" style="padding: 0in; width: 66px;" colspan="2">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width:
 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="45%" valign="bottom" style="padding: 0in; width: 271px;" colspan="12">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">Fair Value Measurements at Reporting Date Using</font></font></p>
</div>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="padding: 0in; width: 211px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="10%" valign="bottom" style="padding: 0in; width: 66px;" colspan="2">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">December 31,<br />2014</font></font></p>
</div>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="14%" valign="bottom" style="padding: 0in; width: 84px;" colspan="2">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">Quoted Prices in<br />Active Markets for<br />Identical<br />Assets/Liabilities<br />(Level 1)</font></font></p>
</div>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="10%" valign="bottom" style="padding: 0in; width: 61px;" colspan="2">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">Significant<br />Other<br />Observable<br />Inputs<br />(Level 2)</font></font></p>
</div>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="10%" valign="bottom" style="padding: 0in; width: 64px;" colspan="2">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font
 class="bold" style="font-weight: bold;"><font lang="en-gb">Significant<br />Unobservable<br />Inputs<br />(Level 3)</font></font></p>
</div>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 211px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">Assets:</font></font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 58px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="12%" valign="bottom" style="background: #cceeff; padding: 0in; width: 77px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 54px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 57px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="padding: 0in; width: 211px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Cash equivalents:</p>
</td>
<td width="1%"
 valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 8px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="padding: 0in; width: 58px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="12%" valign="bottom" style="padding: 0in; width: 77px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="padding: 0in; width: 54px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="padding: 0in; width: 57px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 211px;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Money market funds</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size:
 10pt;">$</p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 58px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">8,275</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="12%" valign="bottom" style="background: #cceeff; padding: 0in; width: 77px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">8,275</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 54px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 57px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="padding: 0in; width: 211px;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Interest rate swaps</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 8px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="9%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 58px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">143</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family:
 timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="12%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 77px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="9%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 54px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">143</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="9%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 57px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 211px;">
<p class="tbodyind2" style="margin: 0in 0in 0pt 30pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Total assets at fair value on a recurring basis</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 8px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 58px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">8,418</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family:
 timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="12%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 77px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">8,275</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 54px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">143</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 57px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="padding: 0in; width: 211px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">Liabilities:</font></font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 8px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 58px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family:
 minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="12%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 77px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 54px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 57px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 211px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Other long-term liabilities:</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 58px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p
 class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="12%" valign="bottom" style="background: #cceeff; padding: 0in; width: 77px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 54px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 57px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="padding: 0in; width: 211px;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Deferred payments</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 8px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="9%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 58px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">2,398</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none;
 text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="12%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 77px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="9%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 54px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="9%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 57px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">2,398</p>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 211px;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Total liabilities at fair value on a recurring basis</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 8px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 58px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">2,398</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in
 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="12%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 77px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 54px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 57px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">2,398</p>
</td>
</tr>
</table>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 10pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">The Company measures the above items on a recurring basis at fair value as follows:</p>
<p class="blm" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt 40pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 13pt;">&#8226;</font></font><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;</font></font>&#160;Money market funds &#8212; Classified in Level 1 is excess cash the Company holds in both taxable and tax-exempt money market funds and are included in Cash and cash equivalents in the accompanying Consolidated Balance Sheets. The Company records any net unrealized gains and losses for changes in fair value as a component of Accumulated other comprehensive income in Stockholders&#8217; equity. The Company&#8217;s cash and cash equivalents held at December 31, 2014 and 2015, approximate fair value and are not disclosed in the above tables because of the short-term nature of the financial instruments.</p>
<p class="blm" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt 40pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 13pt;">&#8226;</font></font><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;</font></font>&#160;Interest rate swap &#8212; The Company had an interest rate swap with a notional amount of $118.8 million as of December 31, 2014, used to minimize the interest rate exposure and fix the variable interest rate on a portion of the Company&#8217;s variable rate debt. The swap was classified within Level 2 and was valued using readily available pricing sources which utilize market observable inputs including the current variable interest rate for similar types of instruments. The swap was terminated when the Company repaid all its outstanding debt in July 2015 upon completion of its Amended Credit Facility (see Note 6).</p>
<p class="blm" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt 40pt; color: black; text-transform: none; text-indent:
 -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 13pt;">&#8226;</font></font><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;</font></font>&#160;Deferred payments &#8212; The Company acquired certain assets and entered into a deferred payment arrangement with one of the sellers in connection with an acquisition completed in 2011, which is classified within Level 3 as there is no liquid market for similarly priced instruments. The deferred payment is valued using a discounted cash flow model that encompasses significant unobservable inputs to estimate the operating results of the acquired assets. The assumptions used to prepare the discounted cash flows include estimates for interest rates, enrollment growth, retention rates and pricing strategies. These assumptions are subject to change as the underlying data sources evolve and the program matures.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">The Company&#8217;s lease loss liability incorporates an assessment of current sublease market conditions and uses Level 3 inputs, but is not deemed a fair value liability as the future lease payments are required to be discounted using the Company&#8217;s incremental borrowing rate at the date of lease abandonment without subsequent adjustment. See Note 3 for further discussion of the Company&#8217;s lease loss liability.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">At December 31, 2014, the carrying value of the Company&#8217;s debt was $118.8 million, which approximated fair value. All of the Company&#8217;s debt was variable interest rate debt and classified within Level 2 because it was valued using readily available pricing sources which utilize market observable inputs. The Company has no outstanding debt as of December 31, 2015.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">The Company did not change its valuation techniques associated with recurring fair value measurements from prior periods, and no assets or liabilities were transferred between levels of the fair value hierarchy during the years ended December 31, 2014 or 2015. Changes in the fair value of the Company&#8217;s Level 3 deferred payment liability that was outstanding throughout the years ended December 31, 2014 and 2015 are as follows (in thousands):</p>
<table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0">
<tr>
<td width="496" valign="bottom" style="background: white; padding: 0in; width: 372pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="3">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">2014</font></font></p>
</div>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="3">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">2015</font></font></p>
</div>
</td>
</tr>
<tr>
<td width="496" valign="bottom" style="background: #cceeff; padding: 0in; width: 372pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Balance at beginning of year</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="48" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.5in;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular;
 font-size: 10pt;">2,115</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="48" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.5in;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">2,398</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="496" valign="bottom" style="background: white; padding: 0in; width: 372pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Amounts earned</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
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<td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;">
<p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(545</p>
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<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
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<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
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<p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(756</p>
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<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
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<td width="496" valign="bottom" style="padding: 0in 0in 1pt; width: 372pt; background-color: #cceeff;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Adjustments to fair value</p>
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<td width="11" valign="bottom" style="padding: 0in 0in 1pt; width: 8pt; background-color: #cceeff;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding-top: 0in; padding-right: 0in; padding-left: 0in; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; padding-top: 0in; padding-right: 0in; padding-left: 0in; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">828</p>
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<td width="8" valign="bottom" style="padding: 0in 0in 1pt; width: 6pt; background-color: #cceeff;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="11" valign="bottom" style="padding: 0in 0in 1pt; width: 8pt; background-color: #cceeff;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="8" valign="bottom" style="width: 6pt; padding-top: 0in; padding-right: 0in; padding-left: 0in; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
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<td width="48" valign="bottom" style="width: 0.5in; padding-top: 0in; padding-right: 0in;
 padding-left: 0in; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">1,636</p>
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<td width="8" valign="bottom" style="padding: 0in 0in 1pt; width: 6pt; background-color: #cceeff;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="496" valign="bottom" style="background: white; padding: 0in; width: 372pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: 0pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Balance at end of year</p>
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<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
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<td width="48" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">2,398</p>
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<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="8" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
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<td width="48" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">3,278</p>
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<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<br class="apple-interchange-newline" />&#160;</div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.</p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6741282400">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Long Term Debt<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtDisclosureAbstract', window );"><strong>Long Term Debt [Abstract]</strong></a></td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtTextBlock', window );">Long Term Debt</a></td>
<td class="text"><p class="h2note" style="font: bold 10pt/12pt timesnewromanpsstd-bold; margin: 10pt 0in 0pt 20pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font class="bold" style="font-weight: bold;">6.</font><font class="bold" style="font-weight: bold;"><font style="font-size: 8.5pt;">&#160;&#160;&#160;&#160;</font>&#160;Long Term Debt</font></p><p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">On July 2, 2015, the Company entered into an amended credit facility (the &#8220;Amended Credit Facility&#8221;) which provides for a revolving line of credit (the &#8220;Revolver&#8221;) up to $150.0 million and provides the Company with an option, under certain conditions, to increase the commitments under the Revolver or establish one or more incremental term loans in an amount up to $50 million in the aggregate in the future. The maturity date of the Amended Credit Facility is July 2, 2020. The Amended Credit Facility replaced the Company&#8217;s prior credit agreement (the &#8220;Prior Credit Agreement&#8221;), dated November 8, 2012, which had provided for both a term loan and revolving line of credit and an original maturity date of December 31, 2016. All amounts outstanding under the Prior Credit Agreement were repaid upon execution of the Amended Credit Facility. The Company paid approximately $0.9 million in debt financing costs associated with the Amended Credit Facility.</p><p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">Borrowings under the Revolver will bear interest at a per annum rate equal to, at the Company&#8217;s election, LIBOR or a base rate, plus a margin ranging from 1.75% to 2.25% (as compared to 2.00% to 2.50% under the Prior Credit Agreement), depending on the Company&#8217;s leverage ratio. The Company also is subject to a quarterly unused commitment fee ranging from 0.25% to 0.35% per annum (as compared to 0.30% to 0.40% per annum under the Prior Credit Agreement), depending on the Company&#8217;s leverage ratio, times the daily unused amount under the Revolver.</p><p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">All other remaining terms of the Prior Credit Agreement remain in full force and effect. The Amended Credit Facility is guaranteed by the University and is secured by substantially all of the personal property and assets of the Company and the guarantor. The Amended Credit Facility contains customary affirmative and negative covenants, representations, warranties, events of default and remedies upon default, including acceleration and rights to foreclose on the collateral securing the Amended Credit Facility. In addition, as with the Prior Credit Agreement, the Amended Credit Facility requires that the Company satisfy certain financial maintenance covenants, including:</p><p class="blm" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt 40pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 13pt;">&#8226;</font></font><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;</font></font>&#160;A leverage ratio of not greater than 2 to 1. Leverage ratio is defined as the ratio of total debt to trailing four-quarter EBITDA (earnings before interest, taxes, depreciation, amortization and non-cash charges such as stock-based compensation).</p><p class="blm" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt 40pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 13pt;">&#8226;</font></font><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;</font></font>&#160;A coverage ratio of not less than 1.75 to 1. Coverage ratio is defined as the ratio of trailing four-quarter EBITDA and rent expense to trailing four-quarter interest and rent expense.</p><p class="blm" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt 40pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 13pt;">&#8226;</font></font><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;</font></font>&#160;A Department of Education Financial Responsibility Composite Score of not less than 1.5.</p><p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">The Company was in compliance with all the terms of the Amended Credit Facility at December 31, 2015.</p><p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">During the years ended December 31, 2014 and 2015, the Company paid cash interest of $4.4 million and $2.4 million, respectively. The Company&#8217;s average annual interest rate, including non-cash charges for the amortization of debt financing costs, was 4.3% in 2014, and 4.3% in 2015 during the period in which the Company had debt outstanding. The Company had no outstanding balance under
 Revolver as of December 31, 2015.</p><p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Interest Rate Swap</font></p><p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">Under the Prior Credit Agreement, the Company was party to an interest rate swap on the outstanding term loan balance in order to minimize the interest rate exposure on the balance of the term loan facility (the &#8220;Swap&#8221;). The Swap effectively fixed the variable interest rate on the associated term loan at a rate ranging from 2.85% to 3.35%, depending on the Company&#8217;s leverage ratio, rather than being subject to fluctuations in the LIBOR rate. The term of the Swap effectively matched the term of the underlying term loan facility. The Swap was designated as a cash flow hedge and was deemed effective in accordance with the Derivatives and Hedging Topic, ASC 815. The fair value of the Swap was included in other assets in the Company&#8217;s consolidated balance sheets, and was settled in full at the time of the payoff of the term loan under the Prior Credit Agreement.</p><span></span>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6754309856">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock Options, Restricted Stock and Restricted Stock Units<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract', window );"><strong>Stock Options, Restricted Stock and Restricted Stock Units [Abstract]</strong></a></td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock', window );">Stock Options, Restricted Stock and Restricted Stock Units</a></td>
<td class="text"><p class="h2note" style="font: bold 10pt/12pt timesnewromanpsstd-bold; margin: 12pt 0in 0pt 20pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"><font class="bold" style="font-weight: bold;">7.</font><font class="bold" style="font-weight: bold;"><font style="font-size: 8.5pt;">&#160;&#160;&#160;&#160;</font>&#160;Stock Options, Restricted Stock and Restricted Stock Units</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">On May 5, 2015, the Company&#8217;s shareholders approved the Strayer Education, Inc. 2015 Equity Compensation Plan (the &#8220;2015 Plan&#8221;), which replaced the Strayer Education, Inc. 2011 Equity Compensation Plan (the &#8220;2011 Plan&#8221;). The 2015 Plan provides for the granting of restricted stock, restricted stock units, stock options intended to qualify as incentive stock options, options that do not qualify as incentive stock options, and other forms of equity compensation and performance-based awards to employees, officers and directors of the Company, or to a consultant or advisor to the Company, at the discretion of the Board of Directors. Vesting provisions are at the discretion of the Board of Directors. Options may be granted at option prices based at or above the fair market value of the shares at the date of grant. The maximum term of the awards granted under the 2015 Plan is ten years. The number of shares of common stock reserved for issuance under the 2015 Plan is 500,000 authorized but unissued shares, plus the number of shares available for grant under the 2011 Plan at the time of stockholder approval of the 2015 Plan, and plus the number of shares which may in the future become available under the 2011 Plan due to forfeitures of outstanding awards.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">In February 2015, the Company&#8217;s Board of Directors approved grants of 71,991 shares of restricted stock to certain employees. These shares, which vest 100% in February 2019, were granted pursuant to the 2011 Plan. The Company&#8217;s stock price closed at $70.15 on the date of these restricted stock grants.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">In May 2015, the Company&#8217;s Board of Directors approved grants of 40,867 shares of restricted stock, which vest in their entirety four years from the date of grant, and were granted pursuant to the 2015 Plan. The Company&#8217;s Board of Directors also approved grants of 13,797 shares of restricted stock. These shares, which vest annually over a three-year period, were awarded to non-employee members of the Company&#8217;s Board of Directors, as part of the Company&#8217;s annual director compensation program and the 2015 Plan. The Company&#8217;s stock price closed at $48.94 on the date of these restricted stock grants.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">Dividends paid on unvested restricted stock are reimbursed to the Company if the recipient forfeits his or her shares as a result</p>
<p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Restricted Stock and Restricted Stock Units</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">The table below sets forth the restricted stock and restricted stock units activity for each of the three years in the period ended December 31, 2015:</p>
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<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">Number of<br />shares</font></font></p>
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height:
 normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">Weighted-average<br />grant price</font></font></p>
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<td width="66%" valign="bottom" style="background: #cceeff; padding: 0in; width: 404px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Balance, December 31, 2012</p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="8%" valign="bottom" style="background: #cceeff; padding: 0in; width: 49px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">434,439</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; width: 83px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">178.88</p>
</td>
</tr>
<tr>
<td width="66%" valign="bottom" style="padding: 0in; width: 404px;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Grants</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8%" valign="bottom" style="padding: 0in; width: 49px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">225,741</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="13%" valign="bottom" style="padding: 0in; width: 83px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal;
 padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">57.90</p>
</td>
</tr>
<tr>
<td width="66%" valign="bottom" style="background: #cceeff; padding: 0in; width: 404px;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Vested shares</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8%" valign="bottom" style="background: #cceeff; padding: 0in; width: 49px;">
<p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(51,916</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; width: 83px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">164.22</p>
</td>
</tr>
<tr>
<td width="66%" valign="bottom" style="padding: 0in; width: 404px;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Forfeitures</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 49px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(120,491</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="13%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 83px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">140.30</p>
</td>
</tr>
<tr>
<td width="66%" valign="bottom" style="background: #cceeff; padding: 0in; width: 404px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Balance, December 31, 2013</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height:
 normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 49px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">487,773</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 83px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">131.51</p>
</td>
</tr>
<tr>
<td width="66%" valign="bottom" style="padding: 0in; width: 404px;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Grants</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8%" valign="bottom" style="padding: 0in; width: 49px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">108,606</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="13%" valign="bottom" style="padding: 0in; width: 83px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">38.95</p>
</td>
</tr>
<tr>
<td width="66%" valign="bottom" style="background: #cceeff; padding: 0in; width: 404px;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Vested shares</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8%" valign="bottom" style="background: #cceeff; padding: 0in; width: 49px;">
<p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(69,434</p>
</td>
<td width="1%" valign="bottom"
 style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; width: 83px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">158.97</p>
</td>
</tr>
<tr>
<td width="66%" valign="bottom" style="padding: 0in; width: 404px;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Forfeitures</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 49px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(2,729</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="13%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 83px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">93.44</p>
</td>
</tr>
<tr>
<td width="66%" valign="bottom" style="background: #cceeff; padding: 0in; width: 404px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Balance, December 31, 2014</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 49px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">524,216</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font
 style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 83px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">115.67</p>
</td>
</tr>
<tr>
<td width="66%" valign="bottom" style="padding: 0in; width: 404px;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Grants</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8%" valign="bottom" style="padding: 0in; width: 49px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">126,655</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="13%" valign="bottom" style="padding: 0in; width: 83px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">61.00</p>
</td>
</tr>
<tr>
<td width="66%" valign="bottom" style="background: #cceeff; padding: 0in; width: 404px;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Vested shares</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8%" valign="bottom" style="background: #cceeff; padding: 0in; width: 49px;">
<p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(13,725</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt;
 text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; width: 83px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">52.94</p>
</td>
</tr>
<tr>
<td width="66%" valign="bottom" style="padding: 0in; width: 404px;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Forfeitures</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 49px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(2,819</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="13%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 83px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">115.55</p>
</td>
</tr>
<tr>
<td width="66%" valign="bottom" style="background: #cceeff; padding: 0in; width: 404px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Balance, December 31, 2015</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 49px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">634,327</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="13%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 83px; border-bottom-color:
 windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">104.66</p>
</td>
</tr>
</table>
<p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 10pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Stock Options</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">The table below sets forth the stock option activity for each of the three years in the period ended December 31, 2015 and other stock option information at December 31, 2015:</p>
<table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0">
<tr>
<td width="35%" valign="bottom" style="padding: 0in; width: 216px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="padding: 0in; width: 57px;" colspan="2">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">Number of<br />shares</font></font></p>
</div>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="13%" valign="bottom" style="padding: 0in; width: 83px;" colspan="2">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">Weighted-average exercise price</font></font></p>
</div>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="13%" valign="bottom" style="padding: 0in; width: 81px;">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">Weighted-<br />average<br />remaining<br />contractual<br />life (years)</font></font></p>
</div>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="12%" valign="bottom" style="padding: 0in; width: 72px;" colspan="2">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">Aggregate<br />intrinsic<br
 />value</font></font><font class="superscript" style="font-size: 6pt; vertical-align: super;"><font lang="en-gb" style="font-size: 6pt;">(1)</font></font><font class="bold" style="font-weight: bold;"><font lang="en-gb"><br />(in thousands)</font></font></p>
</div>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 216px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Balance, December 31, 2012</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 50px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">100,000</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="12%" valign="bottom" style="background: #cceeff; padding: 0in; width: 76px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">107.28</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; width: 81px;">
<p class="tbodyrightalign" style="font: 10pt/normal timesnewromanpsstd-regular; text-align: center; color: black; padding-bottom: 3px; margin-top: 0in; margin-bottom: 0pt; font-stretch: normal;">0.1</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="10%" valign="bottom" style="background: #cceeff; padding: 0in; width: 65px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="padding: 0in; width: 216px;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Grants</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="padding: 0in; width: 50px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">100,000</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size:
 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="12%" valign="bottom" style="padding: 0in; width: 76px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">51.95</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="13%" valign="bottom" style="padding: 0in; width: 81px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="10%" valign="bottom" style="background: #cceeff; padding: 0in; width: 65px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<tr>
<td width="35%" valign="bottom" style="padding: 0in; width: 216px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
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<td width="7%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 50px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
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<td width="12%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 76px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">107.28</p>
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="13%" valign="bottom" style="border-style: none none solid; padding: 0in;
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<p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
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<td width="10%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 65px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
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<tr>
<td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 216px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Balance, December 31, 2013</p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 50px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">100,000</p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
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</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
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</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
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<td width="12%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 76px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">51.95</p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
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</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 81px;">
<p class="tbodyrightalign" style="font: 10pt/normal timesnewromanpsstd-regular; text-align: center; color: black; padding-bottom: 3px; margin-top: 0in; margin-bottom: 0pt; font-stretch: normal;">7.0</p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
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</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
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</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in;
 width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
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<td width="10%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 65px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
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<tr>
<td width="35%" valign="bottom" style="padding: 0in; width: 216px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
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</td>
<td width="7%" valign="bottom" style="padding: 0in; width: 50px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
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<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
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<td width="12%" valign="bottom" style="padding: 0in; width: 76px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="13%" valign="bottom" style="padding: 0in; width: 81px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
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<td width="10%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 65px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
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<tr>
<td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 216px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Balance, December 31, 2014</p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
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<td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 50px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">100,000</p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
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<td width="12%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 76px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">51.95</p>
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<td width="1%" valign="bottom" style="background: #cceeff;
 padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 81px;">
<p class="tbodyrightalign" style="font: 10pt/normal timesnewromanpsstd-regular; text-align: center; color: black; padding-bottom: 3px; margin-top: 0in; margin-bottom: 0pt; font-stretch: normal;">6.0</p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
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</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
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<td width="10%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 65px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">2,233</p>
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<tr>
<td width="35%" valign="bottom" style="padding: 0in; width: 216px;">
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<td width="7%" valign="bottom" style="padding: 0in; width: 50px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
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<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
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<td width="12%" valign="bottom" style="padding: 0in; width: 76px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="13%" valign="bottom" style="padding: 0in; width: 81px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="10%" valign="bottom" style="background: #cceeff; padding: 0in; width: 65px;">
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<tr>
<td
 width="35%" valign="bottom" style="padding: 0in; width: 216px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
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<td width="12%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 76px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="13%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 81px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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</td>
<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="10%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 65px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 216px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Balance, December 31, 2015</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 50px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family:
 timesnewromanpsstd-regular; font-size: 10pt;">100,000</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="12%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 76px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">51.95</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="13%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 81px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="font: 10pt/normal timesnewromanpsstd-regular; padding: 0in; text-align: center; color: black; margin-top: 0in; margin-bottom: 0pt; font-stretch: normal;">5.1</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="10%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 65px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">817</p>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="padding: 0in; width: 216px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Exercisable, December 31, 2015</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 50px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">100,000</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in
 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="12%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 76px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">51.95</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="13%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 81px;">
<p class="tbodyrightalign" style="font: 10pt/normal timesnewromanpsstd-regular; text-align: center; color: black; padding-bottom: 3px; margin-top: 0in; margin-bottom: 0pt; font-stretch: normal;">5.1</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="10%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 65px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">817</p>
</td>
</tr>
</table>
<p class="tablefootnotef" style="font: 8pt/normal timesnewromanpsstd-regular; margin: 0in 0in 0pt 20pt; padding: 0in; border: currentcolor; border-image: none; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">____________</p>
<p class="tablefootnotef" style="font: 8pt/normal timesnewromanpsstd-regular; margin: 0in 0in 0pt 20pt; padding: 0in; border: currentcolor; border-image: none; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">(1)<font style="font-size: 8.5pt;">&#160;&#160;&#160;</font>&#160;The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between the Company&#8217;s closing stock price on the respective trading day and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holder had all options been exercised on the respective trading day. The amount of intrinsic value will change based on the fair market value of the Company&#8217;s common stock.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">The number of shares exercisable as of December 31, 2013, 2014 and 2015 are as follows:</p>
<table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0">
<tr>
<td width="432" valign="bottom" style="background: white; padding: 0in; width: 4.5in;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="61" valign="bottom" style="background: white; padding: 0in; width: 46pt;">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font lang="en-gb">Number of<br />shares</font></p>
</div>
</td>
<td width="11" valign="bottom"
 style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="96" valign="bottom" style="background: white; padding: 0in; width: 1in;" colspan="2">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font lang="en-gb">Weighted-average<br />exercise price</font></p>
</div>
</td>
</tr>
<tr>
<td width="432" valign="bottom" style="background: #cceeff; padding: 0in; width: 4.5in;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Exercisable, December 31, 2013</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="61" valign="bottom" style="background: #cceeff; padding: 0in; width: 46pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="88" valign="bottom" style="background: #cceeff; padding: 0in; width: 66pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">51.95</p>
</td>
</tr>
<tr>
<td width="432" valign="bottom" style="background: white; padding: 0in; width: 4.5in;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Exercisable, December 31, 2014</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="61" valign="bottom" style="background: white; padding: 0in; width: 46pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="88" valign="bottom" style="background: white; padding: 0in; width: 66pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">51.95</p>
</td>
</tr>
<tr>
<td width="432" valign="bottom" style="background: #cceeff; padding: 0in; width: 4.5in;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Exercisable, December 31, 2015</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="61" valign="bottom" style="background: #cceeff; padding: 0in; width: 46pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">100,000</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="88" valign="bottom" style="background: #cceeff; padding: 0in; width: 66pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">51.95</p>
</td>
</tr>
</table>
<p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 10pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Valuation and Expense Information under Stock Compensation Topic ASC 718</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal;
 word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">At December 31, 2015, total stock-based compensation cost which has not yet been recognized was $25.7 million for unvested restricted stock, restricted stock units, and stock option awards. This cost is expected to be recognized over the next 33 months on a weighted-average basis. Awards of approximately 467,000 shares of restricted stock and restricted stock units are subject to performance conditions. The accrual for stock-based compensation for performance awards is based on the Company&#8217;s estimates that such performance criteria are probable of being achieved over the respective vesting periods. Such a determination involves significant judgment surrounding the Company&#8217;s ability to maintain regulatory compliance. If the performance targets are not reached during the respective vesting period, or it is determined it is more likely than not that the performance criteria will not be achieved, related compensation expense is adjusted.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">The following table sets forth the amount of stock-based compensation expense recorded in each of the expense line items for the years ended December 31, 2013, 2014 and 2015 (in thousands):</p>
<table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0">
<tr>
<td width="59%" valign="bottom" style="padding: 0in; width: 360px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="padding: 0in; width: 49px;" colspan="2">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">2013</font></font></p>
</div>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="padding: 0in; width: 47px;" colspan="2">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">2014</font></font></p>
</div>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="padding: 0in; width: 47px;" colspan="2">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">2015</font></font></p>
</div>
</td>
</tr>
<tr>
<td width="59%" valign="bottom" style="background: #cceeff; padding: 0in; width: 360px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Instruction and educational support</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal;
 font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; width: 41px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">1,976</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; width: 40px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">1,736</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; width: 40px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">2,134</p>
</td>
</tr>
<tr>
<td width="59%" valign="bottom" style="padding: 0in; width: 360px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Marketing</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="1%" valign="bottom" style="padding: 0in; width: 8px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="6%" valign="bottom" style="padding: 0in; width: 41px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
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<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black;
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</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="6%" valign="bottom" style="padding: 0in; width: 40px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="6%" valign="bottom" style="padding: 0in; width: 40px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
</tr>
<tr>
<td width="59%" valign="bottom" style="background: #cceeff; padding: 0in; width: 360px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Admissions advisory</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; width: 41px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; width: 40px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; width: 40px;">
<p class="tbodyrightalign" style="margin: 0in
 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
</tr>
<tr>
<td width="59%" valign="bottom" style="padding: 0in; width: 360px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">General and administration</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 8px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="6%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 41px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">7,315</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="6%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 40px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">7,717</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="6%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 40px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">8,079</p>
</td>
</tr>
<tr>
<td width="59%" valign="bottom" style="background: #cceeff; padding: 0in; width: 360px;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Stock-based compensation expense included in operating expense</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor;
 border-image: none; width: 8px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 41px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">9,291</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 40px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">9,453</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 40px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">10,213</p>
</td>
</tr>
<tr>
<td width="59%" valign="bottom" style="padding: 0in; width: 360px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Tax benefit</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 8px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="6%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 41px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">3,698</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor;
 border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="6%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 40px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">3,734</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="6%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 40px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">4,032</p>
</td>
</tr>
<tr>
<td width="59%" valign="bottom" style="background: #cceeff; padding: 0in; width: 360px;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Stock-based compensation expense, net of tax</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 8px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="6%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 41px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">5,593</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="6%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 40px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">5,719</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle"
 style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="6%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 40px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">6,181</p>
</td>
</tr>
</table>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 10pt 0in; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">The following table summarizes information regarding share-based payment arrangements for the years ended December 31, 2013, 2014 and 2015 (in thousands):</p>
<table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0">
<tr>
<td width="59%" valign="bottom" style="padding: 0in; width: 360px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="padding: 0in; width: 50px;" colspan="3">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2013</p>
</div>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="padding: 0in; width: 48px;" colspan="3">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2014</p>
</div>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="padding: 0in; width: 46px;" colspan="3">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2015</p>
</div>
</td>
</tr>
<tr>
<td width="59%" valign="bottom" style="background: #cceeff; padding: 0in; width: 360px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Proceeds from stock options exercised</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle"
 style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="5%" valign="bottom" style="background: #cceeff; padding: 0in; width: 36px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="5%" valign="bottom" style="background: #cceeff; padding: 0in; width: 35px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="5%" valign="bottom" style="background: #cceeff; padding: 0in; width: 33px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="59%" valign="bottom" style="padding: 0in; width: 360px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Tax shortfall related to share-based payment<br />arrangements</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 8px;">
<p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="5%" valign="bottom" style="padding: 0in; width: 36px;">
<p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family:
 timesnewromanpsstd-regular; font-size: 10pt;">(3,567</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 6px;">
<p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="5%" valign="bottom" style="padding: 0in; width: 35px;">
<p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(2,039</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 6px;">
<p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
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<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
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<td width="5%" valign="bottom" style="background: #cceeff; padding: 0in; width: 36px;">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6764472144">
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<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="72%" valign="bottom" style="background: #cceeff; padding: 0in; width: 434px;">
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
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<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
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<td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 43px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">21,280</p>
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<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding:
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<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
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<td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 45px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">15,229</p>
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<td width="72%" valign="bottom" style="padding: 0in; width: 434px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
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<td width="7%" valign="bottom" style="padding: 0in; width: 43px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">9,654</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="7%" valign="bottom" style="padding: 0in; width: 45px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">14,429</p>
</td>
</tr>
<tr>
<td width="72%" valign="bottom" style="background: #cceeff; padding: 0in; width: 434px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Deferred rent and other facility costs</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 43px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">8,646</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%"
 valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 45px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">8,993</p>
</td>
</tr>
<tr>
<td width="72%" valign="bottom" style="padding: 0in; width: 434px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Deferred payments related to acquisition</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="7%" valign="bottom" style="padding: 0in; width: 43px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">5,198</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="7%" valign="bottom" style="padding: 0in; width: 45px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">6,078</p>
</td>
</tr>
<tr>
<td width="72%" valign="bottom" style="background: #cceeff; padding: 0in; width: 434px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Lease incentives</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 43px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">1,056</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="7%" valign="bottom" style="background:
 #cceeff; padding: 0in; width: 45px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">3,125</p>
</td>
</tr>
<tr>
<td width="72%" valign="bottom" style="padding: 0in; width: 434px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Deferred gain on sale of campus building</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="7%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 43px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">414</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="7%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 45px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">133</p>
</td>
</tr>
<tr>
<td width="72%" valign="bottom" style="background: #cceeff; padding: 0in; width: 434px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="7%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 43px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">46,248</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font
 style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="7%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 45px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">47,987</p>
</td>
</tr>
</table>
<p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Loss on Facilities Not in Use and Deferred Rent and Other Facility Costs</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">The Company records a liability for lease costs of campuses and non-campus facilities that are not currently in use (see Note 3). For facilities still in use, the Company records rent expense on a straight-line basis over the initial term of a lease. The difference between the rent payment and the straight-line rent expense is recorded as a liability.</p>
<p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Deferred Revenue</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">The Company provides for certain scholarship and awards programs, such as the Graduation Fund (see Note 2 for additional information), that are earned by students when they successfully complete course requirements. The Company also has licensed certain of its non-credit bearing course content to a third party. Included in long-term deferred revenue is the amount of revenue under these arrangements that the Company expects will be realized after one year.</p>
<p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Deferred Payments Related to Acquisition</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">The Company acquired certain assets and entered into deferred payment arrangements with one of the sellers in connection with an acquisition completed in 2011. The deferred payment arrangements are valued at approximately $2.4 million and $3.3 million as of December 31, 2014 and 2015, respectively. In addition, one of the sellers contributed $2.8 million to the Company representing the seller&#8217;s continuing interest in the assets acquired.</p>
<p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Lease Incentives</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">In conjunction with the opening of new campuses or renovating existing ones, the Company, in some instances, was reimbursed by the lessors for improvements made to the leased properties. In accordance with ASC 840-20, the underlying assets were capitalized as leasehold improvements and a liability was established for the reimbursements. The leasehold improvements and the liability are amortized on a straight-line basis over the corresponding lease terms, which generally range from five to 10 years.</p>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6750630400">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other Employee Benefit Plans<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock', window );">Other Employee Benefit Plans</a></td>
<td class="text"><p class="h2note" style="font: bold 10pt/12pt timesnewromanpsstd-bold; margin: 12pt 0in 0pt 20pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"><font class="bold" style="font-weight: bold;">9.</font><font class="bold" style="font-weight: bold;"><font style="font-size: 8.5pt;">&#160;&#160;&#160;&#160;</font>&#160;Other Employee Benefit Plans</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">The Company has a 401(k) plan covering all eligible employees of the Company. Effective January 1, 2016, participants may contribute up to $18,000 of their base compensation annually. Employee contributions are voluntary. Discretionary contributions were made by the Company matching 50% of employee deferrals up to a maximum of 3% of the employee&#8217;s annual salary. The Company&#8217;s contributions, which vest immediately, totaled $1.1 million, $0.9 million and $1.1 million for the years ended December 31, 2013, 2014, and 2015, respectively.</p>
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<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font lang="en-gb">Shares<br />purchased</font></p>
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<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">2013</p>
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<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size:
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<td width="61" valign="bottom" style="background: #cceeff; padding: 0in; width: 46pt;">
<p align="center" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: center; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">8,911</p>
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<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
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<td width="67" valign="bottom" style="background: #cceeff; padding: 0in; width: 50pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">42.27</p>
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<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">2014</p>
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<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="61" valign="bottom" style="background: white; padding: 0in; width: 46pt;">
<p align="center" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: center; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">5,872</p>
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<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
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<td width="67" valign="bottom" style="background: white; padding: 0in; width: 50pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">44.55</p>
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<td width="456" valign="bottom" style="background: #cceeff; padding: 0in; width: 4.75in;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">2015</p>
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<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="61" valign="bottom" style="background: #cceeff; padding: 0in; width: 46pt;">
<p align="center" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: center; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">5,136</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family:
 timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
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<td width="67" valign="bottom" style="background: #cceeff; padding: 0in; width: 50pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">49.10</p>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for pension and other postretirement benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 715<br> -SubTopic 80<br> -Section 50<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=49170332&amp;loc=SL14450702-114947<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 715<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=58740216&amp;loc=d3e2410-114920<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 715<br> -SubTopic 60<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6414203&amp;loc=d3e39675-114964<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 715<br> -SubTopic 70<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=49170846&amp;loc=d3e28014-114942<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 715<br> -SubTopic 60<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6414199&amp;loc=d3e39622-114963<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6745928320">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock Repurchase Plan<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityNoteAbstract', window );"><strong>Stock Repurchase Plan [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockTextBlock', window );">Stock Repurchase Plan</a></td>
<td class="text"><div><p class="h2note" style="font: bold 10pt/12pt timesnewromanpsstd-bold; margin: 12pt 0in 0pt 20pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"><font class="bold" style="font-weight: bold;">10.</font><font class="bold" style="font-weight: bold;"><font style="font-size: 8.5pt;">&#160;&#160;</font>&#160;Stock Repurchase Plan</font></p><p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">In November 2003, the Company&#8217;s Board of Directors authorized the Company to repurchase up to an aggregate of $15 million in value of common stock in open market purchases from time to time at the discretion of the Company&#8217;s management depending on market conditions and other corporate considerations. The Company&#8217;s Board of Directors amended the program on various dates, increasing the repurchase amount authorized and extending the expiration date. At December 31, 2015, approximately $70 million of the Company&#8217;s share repurchase authorization was remaining for repurchases through December 31, 2016. All of the Company&#8217;s share repurchases were effected in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended. This stock repurchase plan may be modified, suspended or terminated at any time by the Company without notice.</p><p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">A summary of the Company&#8217;s stock repurchase activity for the years ended December 31, 2013, 2014, and 2015, all of which was part of a publicly announced plan, is set forth in the table below:</p><table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"><tr><td width="52%" valign="bottom" style="background: white; padding: 0in; width: 319.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="10%" valign="bottom" style="background: white; padding: 0in; width: 62.72px;"><div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font lang="en-gb">Number of<br />shares<br />repurchased</font></p></div></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="15%" valign="bottom" style="background: white; padding: 0in; width: 91.81px;" colspan="2"><div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font lang="en-gb">Average price paid<br />per share</font></p></div></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="16%" valign="bottom" style="background: white; padding: 0in; width: 99.09px;" colspan="2"><div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font lang="en-gb">Amount available for future repurchases (in millions)</font></p></div></td></tr><tr><td width="52%" valign="bottom" style="background: #cceeff; padding: 0in; width: 319.09px;"><p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">2013</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="10%" valign="bottom" style="background: #cceeff; padding: 0in; width: 62.72px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">495,085</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7.27px;"><p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p></td><td width="14%" valign="bottom" style="background: #cceeff; padding: 0in; width: 84.54px;"><p class="tbodyrightalign"
 style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">50.49</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7.27px;"><p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p></td><td width="15%" valign="bottom" style="background: #cceeff; padding: 0in; width: 91.81px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">70.0</p></td></tr><tr><td width="52%" valign="bottom" style="background: white; padding: 0in; width: 319.09px;"><p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">2014</p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="10%" valign="bottom" style="background: white; padding: 0in; width: 62.72px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 7.27px;"><p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p></td><td width="14%" valign="bottom" style="background: white; padding: 0in; width: 84.54px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 7.27px;"><p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p></td><td width="15%" valign="bottom" style="background: white; padding: 0in; width: 91.81px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">70.0</p></td></tr><tr><td width="52%" valign="bottom" style="background: #cceeff; padding: 0in; width: 319.09px;"><p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">2015</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="10%" valign="bottom" style="background: #cceeff; padding: 0in; width: 62.72px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7.27px;"><p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p></td><td width="14%" valign="bottom" style="background: #cceeff; padding: 0in; width: 84.54px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7.27px;"><p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p></td><td width="15%" valign="bottom" style="background: #cceeff; padding: 0in; width: 91.81px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">70.0</p></td></tr></table><p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 10pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">Repurchases of common stock are recorded as a reduction to additional paid-in capital. To the extent additional paid-in capital had
 been
 reduced to zero through stock repurchases, retained earnings was then reduced.</p></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6742951904">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments and Contingencies<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock', window );">Commitments and Contingencies</a></td>
<td class="text"><p class="h2note" style="font: bold 10pt/12pt timesnewromanpsstd-bold; margin: 12pt 0in 0pt 20pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"><font class="bold" style="font-weight: bold;">11.</font><font class="bold" style="font-weight: bold;"><font style="font-size: 8.5pt;">&#160;&#160;</font>&#160;Commitments and Contingencies</font></p><p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">The University participates in various federal student financial assistance programs which are subject to audit by agencies including the Department of Education, the Veterans Administration, and the Department of Defense. Management believes that the potential effects of audit adjustments, if any, for the periods currently under audit will not have a material adverse effect, individually or in the aggregate, on the Company&#8217;s consolidated financial position, results of operations or cash flows.</p><p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">As of December 31, 2015, the Company had 88 long-term, non-cancelable operating leases for campuses and other administrative facilities. Rent expense was $82.2 million, $35.7 million, and $37.5 million for the years ended December 31, 2013, 2014, and 2015, respectively. Rent expense for 2013 includes approximately $36.0 million in charges related to the closure of 20 campus locations. Rent expense for 2014 and 2015 includes benefits of approximately $4.1 million and $0.4 million, respectively, to reduce the Company&#8217;s liability for losses on facilities no longer in use. 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 width="1%" valign="bottom" style="background:
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text-align: right; color: black; line-height: normal; padding-bottom: 3px !important; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p></td><td width="10%" valign="bottom" style="background: white; padding: 0in; width: 62px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt 6pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px !important; font-family: timesnewromanpsstd-regular; font-size: 10pt;">33,264</p></td></tr><tr><td width="82%" valign="bottom" style="background: #cceeff; padding: 0in; width: 495px;"><p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px !important; font-family: timesnewromanpsstd-regular; font-size: 10pt;">2018</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 11px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt 6pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px !important; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p></td><td width="10%" valign="bottom" style="background: #cceeff; padding: 0in; width: 62px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt 6pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px !important; font-family: timesnewromanpsstd-regular; font-size: 10pt;">28,819</p></td></tr><tr><td width="82%" valign="bottom" style="background: white; padding: 0in; width: 495px;"><p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px !important; font-family: timesnewromanpsstd-regular; font-size: 10pt;">2019</p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 11px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt 6pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px !important; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p></td><td width="10%" valign="bottom" style="background: white; padding: 0in; width: 62px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt 6pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px !important; font-family: timesnewromanpsstd-regular; font-size: 10pt;">23,444</p></td></tr><tr><td width="82%" valign="bottom" style="background: #cceeff; padding: 0in; width: 495px;"><p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px !important; font-family: timesnewromanpsstd-regular; font-size: 10pt;">2020</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 11px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt 6pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px !important; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p></td><td width="10%"
 valign="bottom" style="background: #cceeff; padding: 0in; width: 62px;"><p class="tbodyrightalign" style="margin: 0in
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Taxes<br></strong></div></th>
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<td width="400" valign="bottom" style="background: white; padding: 0in; width: 300pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="59" valign="bottom" style="background: white; padding: 0in; width: 44pt;" colspan="3">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">2013</font></font></p>
</div>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="59" valign="bottom" style="background: white; padding: 0in; width: 44pt;" colspan="2">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">2014</font></font></p>
</div>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="59" valign="bottom" style="background: white; padding: 0in; width: 44pt;" colspan="3">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">2015</font></font></p>
</div>
</td>
</tr>
<tr>
<td width="400" valign="bottom" style="background: #cceeff; padding: 0in; width: 300pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Current:</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family:
 timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="43" valign="bottom" style="background: #cceeff; padding: 0in; width: 32pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="51" valign="bottom" style="background: #cceeff; padding: 0in; width: 38pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="43" valign="bottom" style="background: #cceeff; padding: 0in; width: 32pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="400" valign="bottom" style="background: white; padding: 0in; width: 300pt;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Federal</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="43" valign="bottom" style="background: white; padding: 0in; width: 32pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">26,390</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color:
 windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="51" valign="bottom" style="background: white; padding: 0in; width: 38pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">25,285</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="43" valign="bottom" style="background: white; padding: 0in; width: 32pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">25,515</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="400" valign="bottom" style="background: #cceeff; padding: 0in; width: 300pt;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">State</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="43" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">4,582</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in;
 width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="51" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 38pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">4,490</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="43" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">4,538</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="400" valign="bottom" style="background: white; padding: 0in; width: 300pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Total current</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="43" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">30,972</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="51" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 38pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family:
 timesnewromanpsstd-regular; font-size: 10pt;">29,775</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="43" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">30,053</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="400" valign="bottom" style="background: #cceeff; padding: 0in; width: 300pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Deferred:</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="43" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 32pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="51" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 38pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color:
 black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="43" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 32pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="400" valign="bottom" style="background: white; padding: 0in; width: 300pt;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Federal</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="43" valign="bottom" style="background: white; padding: 0in; width: 32pt;">
<p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(18,387</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="51" valign="bottom" style="background: white; padding: 0in; width: 38pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">141</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="43" valign="bottom" style="background: white; padding: 0in; width: 32pt;">
<p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(3,634</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
</tr>
<tr>
<td width="400" valign="bottom" style="background: #cceeff; padding: 0in; width: 300pt;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family:
 timesnewromanpsstd-regular; font-size: 10pt;">State</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="43" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(1,726</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="51" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 38pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">344</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="43" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(311</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
</tr>
<tr>
<td width="400" valign="bottom" style="background: white; padding: 0in; width: 300pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Total deferred</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font
 style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="43" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(20,113</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="51" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 38pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">485</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="43" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(3,945</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
</tr>
<tr>
<td width="400" valign="bottom" style="background: #cceeff; padding: 0in; width: 300pt;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Total provision for income taxes</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left"
 class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="43" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">10,859</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="51" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 38pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">30,260</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="43" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">26,108</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
</table>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 10pt 0in; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">The tax effects of the principal temporary differences that give rise to the Company&#8217;s deferred tax assets are as follows as of December 31, 2014 and 2015 (in thousands):</p>
<table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0">
<tr>
<td width="464" valign="bottom" style="background: white; padding: 0in; width: 348pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="64"
 valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="3">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2014</p>
</div>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="3">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2015</p>
</div>
</td>
</tr>
<tr>
<td width="464" valign="bottom" style="background: #cceeff; padding: 0in; width: 348pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Tuition receivable</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="48" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.5in;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">3,439</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="48" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.5in;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">3,908</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="464" valign="bottom" style="background: white; padding: 0in; width: 348pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Other facility-related costs</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background:
 white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">2,824</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">2,538</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="464" valign="bottom" style="background: #cceeff; padding: 0in; width: 348pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Employee-related liabilities</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(96</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width:
 0.5in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="464" valign="bottom" style="background: white; padding: 0in; width: 348pt;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Current net deferred tax asset</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">6,167</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">6,446</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="464" valign="bottom" style="background: #cceeff; padding: 0in; width: 348pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Stock-based compensation</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 0.5in;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right;
 color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">12,994</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 0.5in;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">16,742</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="464" valign="bottom" style="background: white; padding: 0in; width: 348pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Property and equipment</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;">
<p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(11,622</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;">
<p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(9,417</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
</tr>
<tr>
<td width="464" valign="bottom" style="background: #cceeff; padding: 0in; width: 348pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Other facility-related costs</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext;
 font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.5in;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">8,903</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.5in;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">6,534</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="464" valign="bottom" style="background: white; padding: 0in; width: 348pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Deferred revenue</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">3,758</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: white; padding: 0in;
 width: 0.5in;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">4,267</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="464" valign="bottom" style="background: #cceeff; padding: 0in; width: 348pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Deferred leasing costs</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.5in;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">2,797</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.5in;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">2,825</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="464" valign="bottom" style="background: white; padding: 0in; width: 348pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Interest rate swap</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;">
<p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(56</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font
 style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="464" valign="bottom" style="background: #cceeff; padding: 0in; width: 348pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Other</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(533</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(948</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
</tr>
<tr>
<td width="464" valign="bottom" style="background: white; padding: 0in; width: 348pt;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Long-term net deferred tax asset</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin:
 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">16,241</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">20,003</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="464" valign="bottom" style="background: #cceeff; padding: 0in; width: 348pt;">
<p class="tbodyind2" style="margin: 0in 0in 0pt 30pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Net deferred tax asset</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="48" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">22,408</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin:
 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="48" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">26,449</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
</table>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 10pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">As of December 31, 2014 and 2015, the Company&#8217;s liabilities for unrecognized tax benefits are included in income taxes payable in the Consolidated Balance Sheets. Interest and penalties, including those related to uncertain tax positions, are included in the provision for income taxes in the Consolidated Statements of Income. The Company recognized $0.1 million of benefits in 2014 and $0.1 million of expense in 2015, related to interest and penalties. The total amount of interest and penalties included in the Consolidated Balance Sheets was $0.3 million and $0.2 million as of December 31, 2014 and 2015, respectively.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 5pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">The following table summarizes changes in unrecognized tax benefits, excluding interest and penalties, for the respective periods (in thousands):</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 5pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"></p>
<table style="width: 600px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0">
<tr style="vertical-align: bottom;">
<td style="padding-bottom: 1pt; font-size: 12pt;">&#160;</td>
<td style="font: bold 8pt/normal timesnewromanpsstd-bold; color: black; padding-bottom: 1pt; font-stretch: normal;">&#160;</td>
<td style="font: bold 8pt/normal timesnewromanpsstd-bold; text-align: center; color: black; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-stretch: normal;" colspan="6">Year Ended December 31,</td>
<td style="font: bold 8pt/normal timesnewromanpsstd-bold; color: black; padding-bottom: 1pt; font-stretch: normal;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="padding-bottom: 1pt; font-size: 12pt;">&#160;</td>
<td style="font: bold 8pt/normal timesnewromanpsstd-bold; color: black; padding-bottom: 1pt; font-stretch: normal;">&#160;</td>
<td style="font: bold 8pt/normal timesnewromanpsstd-bold; text-align: center; color: black; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-stretch: normal;" colspan="2">2014</td>
<td style="font: bold 8pt/normal timesnewromanpsstd-bold; color: black; padding-bottom: 1pt; font-stretch: normal;">&#160;</td>
<td style="font: bold 8pt/normal timesnewromanpsstd-bold; color: black; padding-bottom: 1pt; font-stretch: normal;">&#160;</td>
<td style="font: bold 8pt/normal timesnewromanpsstd-bold; text-align: center; color: black; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-stretch: normal;" colspan="2">2015</td>
<td style="font: bold 8pt/normal timesnewromanpsstd-bold; color: black; padding-bottom: 1pt; font-stretch: normal;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font: 10pt/normal timesnewromanpsstd-regular; width: 442px; text-align: left; color: black; padding-left: 0in; font-stretch: normal;">Beginning unrecognized tax benefits</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; width: 6px; color: black; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; width: 7px; text-align: left; color: black; font-stretch: normal;">$</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; width: 60px; text-align: right; color: black; font-stretch: normal;">1,745</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; width: 6px; text-align: left; color: black; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; width: 6px; color: black; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; width: 7px; text-align: left; color: black; font-stretch: normal;">$</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; width: 60px; text-align: right; color: black; font-stretch: normal;">2,936</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; width: 6px; text-align: left; color: black; font-stretch: normal;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; padding-left: 0in; font-stretch: normal;">Additions based on tax positions taken in the current year</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; color: black; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: right; color: black; font-stretch: normal;">2,085</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; color: black; font-stretch: normal;">&#160;</td>
<td
 style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: right; color: black; font-stretch: normal;">&#8212;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; font-stretch: normal;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; padding-left: 0in; font-stretch: normal;">Reductions for tax positions taken in prior years</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; color: black; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: right; color: black; font-stretch: normal;">(565</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; font-stretch: normal;">)</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; color: black; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: right; color: black; font-stretch: normal;">(2,431</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; font-stretch: normal;">)</td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; padding-bottom: 1pt; padding-left: 0in; font-stretch: normal;">Settlements with taxing authorities</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; color: black; padding-bottom: 1pt; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: right; color: black; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-stretch: normal;">(329</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; padding-bottom: 1pt; font-stretch: normal;">)</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; color: black; padding-bottom: 1pt; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: right; color: black; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-stretch: normal;">&#8212;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; padding-bottom: 1pt; font-stretch: normal;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; padding-bottom: 2.5pt; padding-left: 0in; font-stretch: normal;">Ending unrecognized tax benefits</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; color: black; padding-bottom: 2.5pt; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-stretch: normal;">$</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: right; color: black; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-stretch: normal;">2,936</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; padding-bottom: 2.5pt; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; color: black; padding-bottom: 2.5pt; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-stretch: normal;">$</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: right; color: black; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-stretch: normal;">505</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; padding-bottom: 2.5pt; font-stretch: normal;">&#160;</td>
</tr>
</table>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 10pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">It is reasonably possible that approximately $0.3 million of unrecognized tax benefits will be reduced in the next twelve months due to expiration of the applicable statutes of limitations. The Company does not anticipate significant changes to other unrecognized tax benefits.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">As of December 31, 2015, $0.5 million of the Company&#8217;s total unrecognized tax benefits would favorably affect the Company&#8217;s effective tax rate if recognized. If amounts accrued are less than amounts ultimately assessed by taxing authorities, the Company would record additional income tax expense.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">A reconciliation between the Company&#8217;s statutory tax rate and the effective tax rate for the years ended December 31, 2013, 2014, and 2015 is as follows:</p>
<table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0">
<tr>
<td width="432" valign="bottom" style="background: white; padding: 0in; width: 4.5in;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family:
 timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;" colspan="2">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2013</p>
</div>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;" colspan="2">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2014</p>
</div>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;" colspan="2">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2015</p>
</div>
</td>
</tr>
<tr>
<td width="432" valign="bottom" style="background: #cceeff; padding: 0in; width: 4.5in;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Statutory federal rate</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="35" valign="bottom" style="background: #cceeff; padding: 0in; width: 26.35pt;">
<p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">35.0</p>
</td>
<td width="13" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.65pt;">
<p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">%</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p
 class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="35" valign="bottom" style="background: #cceeff; padding: 0in; width: 26.35pt;">
<p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">35.0</p>
</td>
<td width="13" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.65pt;">
<p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">%</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="35" valign="bottom" style="background: #cceeff; padding: 0in; width: 26.35pt;">
<p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">35.0</p>
</td>
<td width="13" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.65pt;">
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<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">4.6</p>
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<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">4.2</p>
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<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<p class="tbodyrightalign"
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<td width="13" valign="bottom" style="background: white; padding: 0in; width: 9.65pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="13" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.65pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="13" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.65pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">0.3</p>
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</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p
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<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<p class="tbodyrule2brack" style="margin: 0in; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">39.5</p>
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<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="35" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 26.35pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2brack" style="margin: 0in; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">39.5</p>
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<p align="left" class="tbodyrule2brack" style="margin: 0in; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">%</p>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Summarized Quarterly Financial Data (Unaudited)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_QuarterlyFinancialInformationTextBlock', window );">Summarized Quarterly Financial Data (Unaudited)</a></td>
<td class="text"><p class="h2note" style="font: bold 10pt/12pt timesnewromanpsstd-bold; margin: 12pt 0in 0pt 20pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"><font class="bold" style="font-weight: bold;">13.</font><font class="bold" style="font-weight: bold;"><font style="font-size: 8.5pt;">&#160;&#160;</font>&#160;Summarized Quarterly Financial Data (Unaudited)</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">Quarterly financial information for 2014 and 2015 is as follows (in thousands except per share data):</p>
<table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0">
<tr>
<td width="304" valign="bottom" style="background: white; padding: 0in; width: 228pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="368" valign="bottom" style="background: white; padding: 0in; width: 276pt;" colspan="17">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">Quarter</p>
</div>
</td>
</tr>
<tr>
<td width="304" valign="bottom" style="background: white; padding: 0in; width: 228pt;">
<p class="tchleft" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><u><font lang="en-gb">2014</font></u></font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="2">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">First</p>
</div>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="2">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">Second</p>
</div>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p
 class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="2">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">Third</p>
</div>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="2">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">Fourth</p>
</div>
</td>
</tr>
<tr>
<td width="304" valign="bottom" style="background: #cceeff; padding: 0in; width: 228pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Revenues</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">116,468</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">112,747</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt;
 text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">100,756</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">116,070</p>
</td>
</tr>
<tr>
<td width="304" valign="bottom" style="background: white; padding: 0in; width: 228pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Income from operations</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">25,909</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">23,998</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">9,216</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td
 width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">22,624</p>
</td>
</tr>
<tr>
<td width="304" valign="bottom" style="background: #cceeff; padding: 0in; width: 228pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Net income</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">14,783</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">13,677</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">4,953</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black;
 line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">12,943</p>
</td>
</tr>
<tr>
<td width="304" valign="bottom" style="background: white; padding: 0in; width: 228pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Net income per share:</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color:
 black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="304" valign="bottom" style="background: #cceeff; padding: 0in; width: 228pt;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Basic</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">1.40</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">1.29</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">0.47</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family:
 timesnewromanpsstd-regular; font-size: 10pt;">1.22</p>
</td>
</tr>
<tr>
<td width="304" valign="bottom" style="background: white; padding: 0in; width: 228pt;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Diluted</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">1.40</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">1.29</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">0.46</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">1.21</p>
</td>
</tr>
</table>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 10pt 0in; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"><font style="font-size: 4pt;">&#160;</font></p>
<table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none;
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<tr>
<td width="304" valign="bottom" style="background: white; padding: 0in; width: 228pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="368" valign="bottom" style="background: white; padding: 0in; width: 276pt;" colspan="17">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">Quarter</p>
</div>
</td>
</tr>
<tr>
<td width="304" valign="bottom" style="background: white; padding: 0in; width: 228pt;">
<p class="tchleft" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><u><font lang="en-gb">2015</font></u></font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="2">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">First</p>
</div>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="2">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">Second</p>
</div>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="2">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">Third</p>
</div>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext;
 font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="2">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">Fourth</p>
</div>
</td>
</tr>
<tr>
<td width="304" valign="bottom" style="background: #cceeff; padding: 0in; width: 228pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Revenues</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">111,885</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">109,750</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">99,142</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height:
 normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">113,660</p>
</td>
</tr>
<tr>
<td width="304" valign="bottom" style="background: white; padding: 0in; width: 228pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Income from operations</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">19,859</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">20,929</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">7,254</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="56" valign="bottom"
 style="background: white; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">21,656</p>
</td>
</tr>
<tr>
<td width="304" valign="bottom" style="background: #cceeff; padding: 0in; width: 228pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Net income</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">11,385</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">11,874</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">3,723</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">13,041</p>
</td>
</tr>
<tr>
<td width="304" valign="bottom" style="background: white; padding: 0in; width: 228pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt;
 padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Net income per share:</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="304" valign="bottom" style="background: #cceeff; padding: 0in; width: 228pt;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Basic</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black;
 line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">1.08</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">1.12</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">0.35</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">1.23</p>
</td>
</tr>
<tr>
<td width="304" valign="bottom" style="background: white; padding: 0in; width: 228pt;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Diluted</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family:
 timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">1.06</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for the quarterly financial data in the annual financial statements.  The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.</p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6764473808">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Regulation<br></strong></div></th>
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<td class="text"><p class="h2note" style="font: bold 10pt/12pt timesnewromanpsstd-bold; margin: 12pt 0in 0pt 20pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"><font class="bold" style="font-weight: bold;">15.</font><font class="bold" style="font-weight: bold;"><font style="font-size: 8.5pt;">&#160;&#160;</font>&#160;Regulation</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">The Department of Education (the &#8220;Department&#8221;) previously attempted to define &#8220;an eligible program of training to prepare students for gainful employment in a recognized occupation.&#8221; After a federal court invalidated the Department&#8217;s regulation, the Department established a negotiated rulemaking committee to consider the issue of gainful employment. The negotiations did not result in the required consensus. On March 25, 2014, the Department issued a Notice of Proposed Rulemaking for public comment, and on October 31, 2014, the Department published the final regulation which became effective on July 1, 2015.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">The new requirements include two debt-to-earnings measures, consisting of an annual income rate and a discretionary income rate. The annual income rate measures student debt in relation to earnings, and the discretionary income rate measures student debt in relation to discretionary income. Under the new gainful employment regulation, a program would pass if the program&#8217;s graduates:</p>
<p class="blm" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt 40pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 13pt;">&#8226;</font></font><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;</font></font>&#160;have an annual income rate that does not exceed 8%;&#160;<b><u><font style="font-family: timesnewromanpsstd-bold;">or</font></u></b></p>
<p class="blm" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt 40pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 13pt;">&#8226;</font></font><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;</font></font>&#160;have a discretionary income rate that does not exceed 20%.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">In addition, a program that does not pass either of the debt-to-earnings metrics, and that has an annual income rate between 8% and 12%, or a discretionary income rate between 20% and 30%, would be considered to be in a warning zone. A program would fail if the program&#8217;s graduates have an annual income rate of 12% or greater and a discretionary income rate of 30% or greater. A program would become Title IV-ineligible for three years if it fails both metrics for two out of three consecutive years, or fails to pass at least one metric for four consecutive award years.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">If an institution is notified by the Secretary that a program could become ineligible, based on its final rates, for the next award year:</p>
<p class="blm" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt 40pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 13pt;">&#8226;</font></font><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;</font></font>&#160;The institution must provide a warning with respect to the program to students and prospective students indicating, among other things, that students may not be able to use Title IV funds to attend or continue in the program; and</p>
<p class="blm" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt 40pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 13pt;">&#8226;</font></font><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;</font></font>&#160;The institution must not enroll, register or enter into a financial commitment with a prospective student until a specified time after providing the warning to the prospective student.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">The new regulation also requires institutions to report student and program level data to the Department, and comply with additional disclosure requirements beginning in January 2017.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">In addition, the gainful employment regulation required institutions to certify by December 31, 2015, among other things, that each eligible gainful employment program is programmatically accredited if required by a federal governmental entity or a state governmental entity in the state in which it is located or is otherwise required to obtain state approval, and that
 the each eligible program satisfies the applicable educational prerequisites for professional licensure or certification requirements in each state in which it is located or is otherwise required to obtain state approval, so that a student who completes the program and seeks employment in that state qualifies to take any licensure or certification exam that is needed for the student to practice or find employment in an occupation that the program prepares students to enter. The Company timely made the required certification.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">The requirements associated with the gainful employment regulations may substantially increase the Company&#8217;s administrative burdens and could affect student enrollment, persistence and retention. Further, although the regulations provide opportunities for an institution to correct any potential deficiencies in a program prior to the loss of Title IV eligibility, the continuing eligibility of the Company&#8217;s academic programs will be affected by factors beyond management&#8217;s control such as changes in the Company&#8217;s graduates&#8217; income levels, changes in student borrowing levels, increases in interest rates, changes in the percentage of former students who are current in the repayment of their student loans, and various other factors. Even if the Company were able to correct any deficiency in the gainful employment metrics in a timely manner, the disclosure requirements associated with a program&#8217;s failure to meet at least one metric may adversely affect student enrollments in that program and may adversely affect the reputation of the University.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">Strayer University must comply with the campus safety and security reporting requirements as well as other requirements in the Jeanne Clery Disclosure of Campus Security Policy and Campus Crime Statistics Act, or Clery Act, including recent changes made to the Clery Act by the Violence Against Women Reauthorization Act of 2013, which was signed into law on March 7, 2013. On April 1, 2014, a negotiated rulemaking committee reached consensus on proposed regulations, and on October 20, 2014, the Department promulgated regulations implementing the recent amendments to the Clery Act. In addition, the Department has interpreted Title IX to categorize sexual violence as a form of prohibited sex discrimination and to require institutions to follow certain disciplinary procedures with respect to such offenses. Failure to comply with the Clery Act or Title IX requirements or regulations thereunder could result in action by the Department to require correction action, fine the Company or limit or suspend its participation in Title IV programs, could lead to litigation, and could harm the Company&#8217;s reputation. The Company is in compliance with these requirements.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">Strayer University is subject to announced and unannounced compliance reviews and audits by various external agencies, including the Department, its Office of Inspector General, state licensing agencies, and accrediting agencies. The Department conducted four campus-based program reviews of Strayer University campuses in three states and the District of Columbia, with one on-site review conducted August 18-20, 2014; one on-site review conducted September 8-11, 2014; and two on-site reviews conducted September 22-26, 2014. The reviews covered federal financial aid years 2012-2013 and 2013-2014, and two of the reviews also covered compliance with the Jeanne Clery Disclosure of Campus Security Policy and Campus Crime Statistics Act, the Drug-Free Schools and Communities Act, and regulations related thereto. On October 21, 2014, the Department issued an Expedited Final Program Review Determination Letter for one of the program reviews conducted the week of September 22, 2014, closing the program review with no further action required by the Company. On November 17, 2014, the Company received a Program Review Report for the program review conducted in August 2014, and provided a response to the Department on December 15, 2014. On January 7, 2015, the Company received a Final Program Review Determination letter from that review, closing the review with no further action required by the Company. On March 24, 2015, the Company received a Program Review Report for another program review, and provided a response to the Department on April 21, 2015. On April 29, 2015, the Company received a Final Program Review Determination Letter closing the review and identifying a payment of less than $500 due to the Department of Education based on an underpayment on a return to Title IV calculation. The Company remitted payment, and received a letter from the Department on May 26, 2015, indicating that no further action was required and that the matter was closed. On September 15, 2015, the Company received a Program Review report for the final program review, and provided a response to the Department on October 5, 2015. On January 5, 2016 the Company received a Final Program Review Determination letter for the final program review, indicating that the program review was closed and no further action was required.</p>
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 non-degree program, or degree program.</p><span></span>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6764402992">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Subsequent Event<br></strong></div></th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventsTextBlock', window );">Subsequent Event</a></td>
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<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">On January 13, 2016, the Company acquired all of the outstanding shares of the New York Code and Design Academy, a provider of non-degree web and mobile app development courses. NYCDA will operate as a wholly owned subsidiary of the Company, and will maintain its current headquarters and management team based in New York City. The purchase price includes $7.0 million paid up front in cash, plus an additional contingent cash payment of up to $18.0 million based on the achievement of certain performance objectives including NYCDA&#8217;s future revenue and results of operations for the five-year period ending December 31, 2020. NYCDA&#8217;s operating results will be included in the Company&#8217;s consolidated financial statements from the date of the acquisition.</p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.</p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6761493696">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies (Policies)<br></strong></div></th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConsolidationPolicyTextBlock', window );">Financial statement presentation</a></td>
<td class="text"><p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Financial Statement Presentation</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, the University. On January 13, 2016, the Company acquired all of the outstanding stock of NYCDA, and the results of NYCDA will be included with the Company from the acquisition date. All intercompany accounts and transactions have been eliminated in the consolidated financial statements.</p><span></span>
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<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">The Company&#8217;s educational programs are offered on a quarterly basis and such periods coincide with the Company&#8217;s quarterly financial reporting periods. Approximately 96% of the Company&#8217;s revenues during the year ended December 31, 2015 consisted of tuition revenue, which is recognized in the quarter of instruction. Tuition revenue is assessed for collectibility on a student-by-student basis throughout the quarter of instruction, and is shown net of any refunds, withdrawals, corporate discounts, scholarships and employee tuition discounts. This collectibility assessment considers available sources of funds for the student including Federal Financial Student Aid programs. The Company reassesses the collectibility of tuition revenue that it may earn based on new information and changes in the facts and circumstances relevant to a student&#8217;s ability to pay, including the timing of a student&#8217;s withdrawal from a program of study.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">At the start of each academic term, a liability (deferred revenue) is recorded for academic services to be provided and a tuition receivable is recorded for the portion of the tuition not paid in advance. Any cash received prior to the start of an academic term is recorded as deferred revenue. Some students may be eligible for scholarship awards, the estimated value of which will be realized in the future and is deducted from revenue when earned, based on historical student attendance and completion behavior. Deferred revenue is recorded as a current or long-term liability in the consolidated balance sheets based on when the benefit is expected to be realized. Revenues also include textbook-related income, certificate revenue, certain academic fees, licensing revenue, and other income, which are recognized when earned.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">The Company&#8217;s refund policy typically permits students who complete less than half of a course to receive a partial refund of tuition for that course. Refunds reduce the tuition revenue that would have otherwise been recognized for that student. Since the Company&#8217;s academic terms coincide with its financial reporting periods, nearly all refunds are processed and recorded within the same quarter as the corresponding revenue. The amount of tuition revenue refundable to students may vary based on the student&#8217;s state of residence. Unused books and related academic materials may be returned for a full refund within 21 days of the start of class; however, purchases of electronic content are not refundable if downloaded. Revenues derived from fees are not eligible for a refund.</p><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_GraduationFundPolicyTextBlock', window );">Graduation Fund</a></td>
<td class="text"><p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Graduation Fund</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">In the third quarter of 2013, the Company introduced the Graduation Fund, which allows new undergraduate students to earn tuition credits that are redeemable in the final year of a student&#8217;s course of study if he or she successfully remains in the program. New students registering in credit-bearing courses in any undergraduate program for the summer 2013 term (fiscal third quarter) and subsequent terms qualify for the Graduation Fund. Students must meet all of the University&#8217;s admission requirements, and must be enrolled in an undergraduate degree program. The Company&#8217;s employees and their dependents are not eligible for the program. Students who have more than one consecutive term of non-attendance lose any Graduation Fund credits earned to date, but may earn and accumulate new credits if the student is reinstated or readmitted by the University in the future. In their final academic year, qualifying students will receive one free course for every three courses that were successfully completed.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">Revenue from students participating in the Graduation Fund is recorded in accordance with the Revenue Recognition Topic, ASC 605-50. The Company defers the value of benefits estimated to be redeemed in the future based on the underlying revenue transactions that result in progress by the student toward earning the benefit. The Company&#8217;s estimate of the benefits that will be redeemed in the future is based on its historical experience of student persistence toward completion of a course of study within this program and similar programs. Each quarter, the Company assesses its methodologies and assumptions underlying these estimates and, to date, any adjustments to the estimates have not been material. The amount estimated to be redeemed in the next twelve months is $10.0 million and is included in deferred revenue as a current liability in the consolidated balance sheets.</p>
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<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;" colspan="3">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2015</p>
</div>
</td>
</tr>
<tr>
<td width="472" valign="bottom" style="background: #cceeff; padding: 0in; width: 354pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Balance
 at beginning of year</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="20" valign="bottom" style="background: #cceeff; padding: 0in; width: 15pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="40" valign="bottom" style="background: #cceeff; padding: 0in; width: 30pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">1,898</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="20" valign="bottom" style="background: #cceeff; padding: 0in; width: 15pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="40" valign="bottom" style="background: #cceeff; padding: 0in; width: 30pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">9,706</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="472" valign="bottom" style="background: white; padding: 0in; width: 354pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Revenue deferred</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="20" valign="bottom" style="background: white; padding: 0in; width: 15pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="40" valign="bottom" style="background: white; padding: 0in; width: 30pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">8,507</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="20" valign="bottom" style="background: white; padding: 0in; width: 15pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white;
 padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="40" valign="bottom" style="background: white; padding: 0in; width: 30pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">17,882</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="472" valign="bottom" style="background: #cceeff; padding: 0in; width: 354pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Benefit redeemed</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="20" valign="bottom" style="background: #cceeff; padding: 0in; width: 15pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="40" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 30pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(699</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="20" valign="bottom" style="background: #cceeff; padding: 0in; width: 15pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="40" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 30pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(6,651</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
</tr>
<tr>
<td width="472" valign="bottom" style="background: white; padding: 0in; width: 354pt;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Balance at end of year</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="20" valign="bottom" style="background: white; padding: 0in; width: 15pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor;
 border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="40" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 30pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">9,706</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="20" valign="bottom" style="background: white; padding: 0in; width: 15pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="40" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 30pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">20,937</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
</table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPolicyTextBlock', window );">Cash and Cash Equivalents</a></td>
<td class="text"><p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 10pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Cash and Cash Equivalents</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">Cash and cash equivalents consist of cash maintained in mostly FDIC-insured bank accounts and cash invested in bank overnight deposits and money market mutual funds. The Company places its cash and temporary cash investments with various financial institutions. The Company considers all highly liquid instruments purchased with a maturity of three months or less at the date of purchase to be cash equivalents.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskCreditRisk', window );">Concentration of Credit Risk</a></td>
<td class="text"><p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Concentration of Credit Risk</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">The Company places its cash and temporary cash investments in bank overnight deposits and money market mutual funds with various financial institutions. Cash and cash equivalent balances are in excess of the FDIC insurance limit. The Company has not experienced any losses on its cash and cash equivalents.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy', window );">Restricted Cash</a></td>
<td class="text"><p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Restricted Cash</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">A significant portion of the Company&#8217;s revenues are funded by various federal and state government programs. The Company generally does not receive funds from these programs prior to the start of the corresponding academic term. The Company may be required to return certain funds for students who withdraw from the University during the academic term. There were no amounts payable for these obligations at December 31, 2015. At December 31, 2014, the Company had approximately $0.2 million of these unpaid obligations, which are recorded as restricted cash and included in other current assets in the consolidated balance sheet.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">As part of commencing operations in Pennsylvania in 2003, the Company was required to maintain a &#8220;minimum protective endowment&#8221; of at least $0.5 million in an interest-bearing account. These funds are required as long as the Company operates its campuses in the state. The Company holds these funds in an interest-bearing account which is included in other assets.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy', window );">Tuition Receivable and Allowance for Doubtful Accounts</a></td>
<td class="text"><p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Tuition Receivable and Allowance for Doubtful Accounts</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"><font style="letter-spacing: -0.1pt;">The Company records tuition receivable and deferred revenue for its students upon the start of the academic term. Therefore, at the end of the quarter (and academic term), tuition receivable represents amounts due from students for educational services already provided and deferred revenue represents advance payments from students for academic services to be provided in the future. Tuition receivables are not collateralized; however, credit risk is minimized as a result of the diverse nature of the University&#8217;s student base. An allowance for doubtful accounts is established primarily based upon historical collection rates by age of receivable, net of estimated recoveries. These collection rates </font><font style="letter-spacing: -0.1pt;">incorporate historical performance based on a student&#8217;s current enrollment status and likelihood of future enrollment. The Company periodically assesses its methodologies for estimating bad debts in consideration of actual experience.</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">The Company&#8217;s tuition receivable and allowance for doubtful accounts were as follows as of December 31, 2014 and 2015 (in thousands):</p>
<table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 632px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0">
<tr>
<td width="459" valign="bottom" style="background: white; padding: 0in; width: 344pt;">
<p class="tchleft" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">&#160;</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="59" valign="bottom" style="background: white; padding: 0in; width: 44pt;" colspan="3">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">2014</font></font></p>
</div>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="24" valign="bottom" style="background: white; padding: 0in; width: 0.25in;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="59" valign="bottom" style="background: white; padding: 0in; width: 44pt;" colspan="3">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">2015</font></font></p>
</div>
</td>
</tr>
<tr>
<td width="459" valign="bottom" style="background: #cceeff; padding: 0in; width: 344pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Tuition receivable</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="43" valign="bottom" style="background: #cceeff; padding: 0in; width: 32pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">25,777</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family:
 timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="24" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.25in;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="43" valign="bottom" style="background: #cceeff; padding: 0in; width: 32pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">28,543</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="459" valign="bottom" style="background: white; padding: 0in; width: 344pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Allowance for doubtful accounts</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="43" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(8,835</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="24" valign="bottom" style="background: white; padding: 0in; width: 0.25in;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="43" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(10,024</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
</tr>
<tr>
<td width="459" valign="bottom" style="background: #cceeff; padding: 0in; width: 344pt;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Tuition receivable, net</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="43" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family:
 timesnewromanpsstd-regular; font-size: 10pt;">16,942</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="24" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.25in;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="43" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">18,519</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
</table>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 10pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">Approximately $1.6 million and $2.0 million of tuition receivable is included in other assets as of December 31, 2014 and 2015, respectively, because these amounts are expected to be collected after 12 months.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">The following table illustrates changes in the Company&#8217;s allowance for doubtful accounts for each of the three years ended December 31, 2015 (in thousands):</p>
<table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0">
<tr>
<td width="57%" valign="bottom" style="padding: 0in; width: 347px;">
<p class="tchleft" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">&#160;</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="padding: 0in; width: 59px;" colspan="3">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2013</p>
</div>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="padding: 0in; width: 18px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="padding: 0in; width: 56px;" colspan="3">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2014</p>
</div>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="padding: 0in; width: 18px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size:
 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="padding: 0in; width: 56px;" colspan="3">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2015</p>
</div>
</td>
</tr>
<tr>
<td width="57%" valign="bottom" style="background: #cceeff; padding: 0in; width: 347px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Beginning allowance for doubtful accounts</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; width: 43px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">6,596</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 18px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; width: 42px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">10,303</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 18px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; width: 42px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">8,835</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="57%" valign="bottom" style="padding: 0in; width: 347px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Additions charged to expense</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 8px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="6%" valign="bottom" style="padding: 0in; width: 43px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal;
 padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">22,225</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 8px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="padding: 0in; width: 18px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="6%" valign="bottom" style="padding: 0in; width: 42px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">16,947</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="padding: 0in; width: 18px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="6%" valign="bottom" style="padding: 0in; width: 42px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">13,067</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="57%" valign="bottom" style="background: #cceeff; padding: 0in; width: 347px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Write-offs, net of recoveries</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 8px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="6%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 43px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(18,518</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 18px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none;
 text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="6%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 42px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(18,415</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 18px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="6%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 42px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(11,878</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
</tr>
<tr>
<td width="57%" valign="bottom" style="padding: 0in; width: 347px;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Ending allowance for doubtful accounts</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none double; padding: 0in; width: 8px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="6%" valign="bottom" style="border-style: none none double; padding: 0in; width: 43px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">10,303</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 8px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="padding: 0in; width: 18px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="6%" valign="bottom" style="border-style: none none double; padding: 0in; width: 42px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">8,835</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font
 style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="padding: 0in; width: 18px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="6%" valign="bottom" style="border-style: none none double; padding: 0in; width: 42px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">10,024</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
</table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock', window );">Property and Equipment</a></td>
<td class="text"><p class="h4" style="color: black; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 10pt 0in 0.0001pt; line-height: 12pt; page-break-after: avoid; font-size: 10pt; font-family: timesnewromanpsstd-italic; font-style: italic;"><font class="italic" style="font-style: italic;">Property and Equipment</font></p>
<p class="textind" style="color: black; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 6pt 0in 0.0001pt; text-indent: 20pt; line-height: 12pt; font-size: 10pt; font-family: timesnewromanpsstd-regular;">Property and equipment are stated at cost less accumulated depreciation and amortization. In accordance with the Property, Plant and Equipment Topic, ASC 360, the carrying values of the Company&#8217;s assets are re-evaluated when events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If it is determined that an impairment loss has occurred based on expected undiscounted future cash flows, then a loss is recognized using a fair value-based model. Through 2015, no such impairment loss had occurred. Depreciation and amortization of property and equipment is calculated using the straight-line method over the estimated useful lives ranging from 3 to 40 years. Depreciation and amortization amounted to $35.6 million, $20.6 million and $18.1 million for the years ended December 31, 2013, 2014, and 2015, respectively.</p>
<p class="textind" style="color: black; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 6pt 0in 0.0001pt; text-indent: 20pt; line-height: 12pt; font-size: 10pt; font-family: timesnewromanpsstd-regular;">Construction in progress includes costs of computer software developed for internal use, which is accounted for in accordance with the Internal-Use Software Topic, ASC 350-40. Computer software development costs that are incurred in the preliminary project stage are expensed as incurred. During the development stage, direct consulting costs, payroll, and payroll-related costs for employees that are directly associated with the project are capitalized and will be amortized over the estimated useful life of the software once placed into operation. Purchases of property and equipment and changes in accounts payable for each of the three years in the period ended December 31, 2015 in the Consolidated Statements of Cash Flows have been adjusted to exclude non-cash purchases of property and equipment transactions during that period.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueOfFinancialInstrumentsPolicy', window );">Fair Value</a></td>
<td class="text"><p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Fair Value</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">The Fair Value Measurement Topic, ASC 820-10 (&#8220;ASC 820-10&#8221;), establishes a framework for measuring fair value, establishes a fair value hierarchy based upon the observability of inputs used to measure fair value, and expands disclosures about fair value measurements. Assets and liabilities are classified in their entirety within the fair value hierarchy based on the lowest level input that is significant to the fair value measurement. Under ASC 820-10, fair value of an investment is the price that would be received to sell an asset or to transfer a liability to an entity in an orderly transaction between market participants at the measurement date. The hierarchy gives the highest priority to assets and liabilities with readily available quoted prices in an active market and lowest priority to unobservable inputs which require a higher degree of judgment when measuring fair value, as follows:</p>
<p class="blm" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt 40pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 13pt;">&#8226;</font></font><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;</font></font>&#160;Level 1 assets or liabilities use quoted prices in active markets for identical assets or liabilities as of the measurement date;</p>
<p class="blm" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt 40pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 13pt;">&#8226;</font></font><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;</font></font>&#160;Level 2 assets or liabilities use observable inputs, other than quoted market prices, that are either directly or indirectly observable in the marketplace for identical or similar assets and liabilities; and</p>
<p class="blm" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 7pt 0in 0pt 40pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 13pt;">&#8226;</font></font><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;</font></font>&#160;Level 3 assets or liabilities use unobservable inputs that are supported by little or no market activity.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 7pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">The Company&#8217;s assets and liabilities that are subject to fair value measurement are categorized in one of the three levels above. Fair values are based on the inputs available at the measurement dates, and may rely on certain assumptions that may affect the valuation of fair value for certain assets or liabilities.</p><span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock', window );">Goodwill and Indefinite-Lived Intangible Assets</a></td>
<td class="text"><p class="h4" style="color: black; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 12pt 0in 0.0001pt; line-height: 12pt; page-break-after: avoid; font-size: 10pt; font-family: timesnewromanpsstd-italic; font-style: italic;"><font class="italic" style="font-style: italic;">Goodwill and Indefinite-Lived Intangible Assets</font></p>
<p class="textind" style="color: black; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 7pt 0in 0.0001pt; text-indent: 20pt; line-height: 12pt; font-size: 10pt; font-family: timesnewromanpsstd-regular;">Goodwill represents the excess of the purchase price of an acquired business over the amount assigned to the assets acquired and liabilities assumed. Indefinite-lived intangible assets, which include a trade name, are recorded at fair market value on their acquisition date. An indefinite life was assigned to the trade name because it has the continued ability to generate cash flows indefinitely.</p>
<p class="textind" style="color: black; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 7pt 0in 0.0001pt; text-indent: 20pt; line-height: 12pt; font-size: 10pt; font-family: timesnewromanpsstd-regular;">Goodwill and the indefinite-lived intangible asset are assessed at least annually for impairment during the three-month period ending September 30, or more frequently if events occur or circumstances change between annual tests that would more likely than not reduce the fair value of the respective reporting unit below its carrying amount. Under Accounting Standards Update No. 2011-08,&#160;<font class="italic" style="font-style: italic;">Intangibles-Goodwill and Other (Topic 350): Testing Goodwill for Impairment</font>, the Company is permitted, but not required, to first assess qualitative factors to determine whether it is necessary to perform the more thorough quantitative goodwill impairment test. Following its qualitative assessment, the Company determined it was not more likely than not that the fair value of its goodwill was less than the carrying amount and, accordingly, no impairment existed in 2015.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_LongTermLiabilitiesPolicyTextBlock', window );">Long-Term Liabilities</a></td>
<td class="text"><p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 13pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Long-Term Liabilities</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 7pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">Included in the Company&#8217;s long-term liabilities are amounts related to the Company&#8217;s operating leases, deferred payments related to an acquisition completed in 2011, the fair value of the Company&#8217;s interest rate swap, and the non-current portion of deferred revenue. In conjunction with the opening of some campuses and other facilities, the Company was reimbursed by the lessors for improvements made to those leased properties. In accordance with the Operating Leases Subtopic, ASC 840-20 (&#8220;ASC 840-20&#8221;), these underlying assets were capitalized as leasehold improvements and a liability was established for the reimbursements. The leasehold improvements and the liability are amortized on a straight-line basis over the corresponding lease terms, which generally range from five to ten years. In accordance with ASC 840-20, the Company records rent expense on a straight-line basis over the initial term of a lease. The cumulative difference between the rent payment and the straight-line rent expense is recorded as a liability. The Company also records the non-current portion of the gain related to the sale and lease back of a campus facility as a long-term liability.</p><span></span>
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</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativesMethodsOfAccountingHedgingDerivatives', window );">Accounting for Derivative Instruments and Hedging Activities</a></td>
<td class="text"><p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Accounting for Derivative Instruments and Hedging Activities</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 7pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">On the date that the Company enters into a derivative contract, it designates the derivative as a hedge of (a) a forecasted transaction or (b) the variability of cash flows that are to be received or paid in connection with a recognized asset or liability (a cash flow hedge). All derivatives are recognized in the balance sheet at their fair value.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 7pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">Changes in the fair value of a derivative that is highly effective and that is designated and qualifies as a cash flow hedge, to the extent that the hedge is effective, are recorded, net of income tax, in other comprehensive income, until earnings are affected by the variability of cash flows of the hedged transaction (e.g., until periodic settlements of a variable-rate asset or liability are recorded in earnings). Any hedge ineffectiveness (which represents the amount by which the changes in the fair value of the derivative exceed the variability in the cash flows of the forecasted transaction) is recorded in current-period earnings.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 7pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">The Company formally documents all relationships between hedging instruments and hedged items, as well as its risk-management objective and strategy for undertaking various hedge transactions. The Company also formally assesses (both at the hedge&#8217;s inception and on an ongoing basis) whether the derivatives that are used in hedging transactions have been highly effective in offsetting changes in the fair value or cash flows of hedged items and whether those derivatives may be expected to remain highly effective in future periods. When it is determined that a derivative is not (or has ceased to be) highly effective as a hedge, the Company discontinues hedge accounting prospectively.</p><span></span>
</td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_AuthorizedStockPolicyTextBlock', window );">Authorized Stock</a></td>
<td class="text"><p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Authorized Stock</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">The Company has authorized 20,000,000 shares of common stock, par value $.01, of which 10,903,341 and 11,027,177 shares were issued and outstanding as of December 31, 2014 and 2015, respectively. The Company also has authorized 8,000,000 shares of preferred stock, none of which has been issued or outstanding since 2004. Before any preferred stock may be issued in the future, the Board of Directors would need to establish the preferences, conversion or other rights, voting powers, restrictions, limitations as to dividends, qualifications, and the terms or conditions of the redemption of the preferred stock.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdvertisingCostsPolicyTextBlock', window );">Advertising Costs</a></td>
<td class="text"><p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Advertising Costs</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">The Company expenses advertising costs in the quarter incurred, except for costs associated with the production of media commercials which are expensed when the commercial is first aired.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy', window );">Stock-Based Compensation</a></td>
<td class="text"><p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Stock-Based Compensation</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">As required by the Stock Compensation Topic, ASC 718, the Company measures and recognizes compensation expense for all share-based payment awards made to employees and directors, including employee stock options, restricted stock, restricted stock units, and employee stock purchases related to the Company&#8217;s Employee Stock Purchase Plan, based on estimated fair values. Stock-based compensation expense recognized in the Consolidated Statements of Income for each of the three years in the period ended December 31, 2015 is based on awards ultimately expected to vest and, therefore, has been adjusted for estimated forfeitures. The Company is required to estimate forfeitures at the time of grant and revise the estimate, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The forfeiture rate used is based on historical experience. The Company also assesses the likelihood that performance criteria associated with performance-based awards will be met. If it is determined that it is more likely than not that performance criteria will not be achieved, the Company revises its estimate of the number of shares it believes will ultimately vest.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerSharePolicyTextBlock', window );">Net Income Per Share</a></td>
<td class="text"><p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Net Income Per Share</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">Basic earnings per share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the periods. Diluted earnings per share reflects the potential dilution that could occur assuming conversion or exercise of all dilutive unexercised stock options, restricted stock and restricted stock units. The dilutive effect of stock awards was determined using the treasury stock method. Under the treasury stock method, all of the following are assumed to be used to repurchase shares of the Company&#8217;s common stock: (1) the proceeds received from the exercise of stock options, (2) the amount of compensation cost associated with the stock awards for future service not yet recognized by the Company, and (3) the amount of tax benefits that would be recorded in additional paid-in capital when the stock awards become deductible for income tax purposes. Stock options are not included in the computation of diluted earnings per share when the stock option exercise price of an individual grant exceeds the average market price for the period. During the year ended December 31, 2015, the Company had no issued and outstanding stock options that were excluded from the calculation.&#160;<font style="letter-spacing: -0.05pt;">Set forth below is a reconciliation of shares used to calculate basic and diluted earnings per share for each of the three years ended December 31, 2015 (in thousands):</font></p>
<table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0">
<tr>
<td width="60%" valign="bottom" style="padding: 0in; width: 364px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="padding: 0in; width: 48px;">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2013</p>
</div>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="padding: 0in; width: 23px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="padding: 0in; width: 48px;">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2014</p>
</div>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="padding: 0in; width: 22px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="padding: 0in; width: 47px;">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2015</p>
</div>
</td>
</tr>
<tr>
<td width="60%" valign="bottom" style="background: #cceeff; padding: 0in; width: 364px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Weighted average shares outstanding used to compute basic earnings per share</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 48px;">
<p
 class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">10,584</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 23px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 48px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">10,561</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 22px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 47px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">10,588</p>
</td>
</tr>
<tr>
<td width="60%" valign="bottom" style="padding: 0in; width: 364px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Incremental shares issuable upon the assumed exercise of stock<br />options</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="padding: 0in; width: 48px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="padding: 0in; width: 23px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="padding: 0in; width: 48px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">6</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="padding: 0in; width: 22px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="padding: 0in; width: 47px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">6</p>
</td>
</tr>
<tr>
<td width="60%" valign="bottom" style="background: #cceeff; padding: 0in; width: 364px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Unvested restricted stock and restricted stock units</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 48px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border:
 currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">40</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 23px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 48px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">83</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 22px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 47px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">146</p>
</td>
</tr>
<tr>
<td width="60%" valign="bottom" style="padding: 0in; width: 364px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Shares used to compute diluted earnings per share</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="border-style: none none double; padding: 0in; width: 48px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">10,624</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="padding: 0in; width: 23px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="border-style: none none double; padding: 0in; width: 48px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">10,650</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="padding: 0in; width: 22px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="border-style: none none double; padding: 0in; width: 47px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">10,740</p>
</td>
</tr>
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</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxPolicyTextBlock', window );">Income Taxes</a></td>
<td class="text"><p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Income Taxes</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">The Company provides for deferred income taxes based on temporary differences between financial statement and income tax bases of assets and liabilities using enacted tax rates in effect in the year in which the differences are expected to reverse.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">The Income Taxes Topic, ASC 740, requires the company to determine whether uncertain tax positions should be recognized within the Company&#8217;s financial statements. The Company recognizes interest and penalties, if any, related to uncertain tax positions in income tax expense. Uncertain tax positions are recognized when a tax position, based solely on its technical merits, is determined to be more likely than not to be sustained upon examination. Upon determination, uncertain tax positions are measured to determine the amount of benefit that is greater than 50% likely to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. A tax position is derecognized if it no longer meets the more likely than not threshold of being sustained.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">The tax years 2012-2015 remain open for Federal tax examination and the tax years 2011-2015 remain open to examination by state and local taxing jurisdictions in which the Company is subject.</p><span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UseOfEstimates', window );">Use of Estimates</a></td>
<td class="text"><p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Use of Estimates</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of expenses during the period reported. The most significant management estimates included allowances for doubtful accounts, the useful lives of property and equipment, fair value of future contractual operating lease obligations, potential sublease income and vacancy periods, accrued expenses, forfeiture rates and the likelihood of achieving performance criteria for stock-based awards, value of free courses earned by students that will be redeemed in the future, valuation of goodwill, intangible assets and the interest rate swap arrangement, and the provision for income taxes. Actual results could differ from those estimates.</p><span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomePolicyPolicyTextBlock', window );">Comprehensive Income</a></td>
<td class="text"><p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Comprehensive Income</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">Comprehensive income consists of net income and the change in the fair value of the Company&#8217;s interest rate swap, net of income taxes.</p><span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock', window );">Recent Accounting Pronouncements</a></td>
<td class="text"><p class="h4" style="font: italic 10pt/12pt timesnewromanpsstd-italic; margin: 12pt 0in 0pt; color: black; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; page-break-after: avoid; widows: 1; -webkit-text-stroke-width: 0px;"><font class="italic" style="font-style: italic;">Recent Accounting Pronouncements</font></p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">In May 2014, the FASB issued ASU No. 2014-09, &#8220;Revenue from Contracts with Customers (Topic 606)&#8221; (&#8220;ASU 2014-09&#8221;). The standard establishes a new recognition model that requires revenue to be recognized in a manner to depict the transfer of goods or services to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services. ASU 2014-09 is effective for fiscal years beginning after December 15, 2017. The Company currently is evaluating the impact that the standard will have on its financial condition, results of operations, and disclosures.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">In April 2015, the FASB issued ASU No. 2015-03, &#8220;Interest - Imputation of Interest (Subtopic 835-30)&#8221; (&#8220;ASU 2015-03&#8221;). The new guidance requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 is effective for financial statements issued for fiscal years beginning after December 15, 2015. The new guidance will be applied on a retrospective basis, and early adoption is permitted. The Company currently is evaluating the impact that the standard will have on its financial condition, results of operations, and disclosures.</p>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">In November 2015, the FASB issued ASU No. 2015-17, &#8220;Balance Sheet Classification of Deferred Taxes&#8221; (&#8220;ASU 2015-17&#8221;). The new guidance requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The amendments in ASU 2015-17 are effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. The Company intends to adopt the standard during the first quarter of 2016.</p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for authorized stock. Discloses the type and amount of stock that is issued and outstanding.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy regarding graduation fund.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for long-term liabilities which includes the major components of the long-term liabilities caption in the financial statements.</p></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for advertising costs. For those costs that cannot be capitalized, discloses whether such costs are expensed as incurred or the first period in which the advertising takes place. For direct response advertising costs that are capitalized, describes those assets and the accounting policy used, including a description of the qualifying activity, the types of costs capitalized and the related amortization period. An entity also may disclose its accounting policy for cooperative advertising arrangements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 340<br> -SubTopic 20<br> -Section 55<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=51677389&amp;loc=d3e8384-108330<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 340<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=51662920&amp;loc=d3e8275-108329<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdvertisingCostsPolicyTextBlock</td>
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<tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 305<br> -SubTopic 10<br> -Section 05<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6375392&amp;loc=d3e26790-107797<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4273-108586<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash<br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash Equivalents<br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Financial Reporting Release (FRR)<br> -Number 203<br> -Paragraph 02-03<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 1<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsPolicyTextBlock</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Entity's cash and cash equivalents accounting policy with respect to restricted balances.  Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.1(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 305<br> -SubTopic 10<br> -Section 05<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6375392&amp;loc=d3e26790-107797<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4273-108586<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 1<br> -Article 5<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Financial Reporting Release (FRR)<br> -Number 203<br> -Paragraph 02-03<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for comprehensive income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ComprehensiveIncomePolicyPolicyTextBlock</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConcentrationRiskCreditRisk">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for credit risk.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 55<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6875567&amp;loc=d3e14489-108613<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 825<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=51676700&amp;loc=d3e61082-112788<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 825<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=28088331&amp;loc=SL29635902-196195<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 21<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13537-108611<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13531-108611<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 825<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=51676700&amp;loc=d3e61044-112788<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConcentrationRiskCreditRisk</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting.  The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=d3e5614-111684<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.3A-02)<br> -URI http://asc.fasb.org/extlink&amp;oid=27015204&amp;loc=d3e355033-122828<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph k<br> -Article 1<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02, 03<br> -Article 3A<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConsolidationPolicyTextBlock</td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for derivatives used in hedging relationships, which may include how gains or losses are recognized and presented in the financial statements, and amortization policies for deferred amounts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 25<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6886632&amp;loc=d3e76258-113986<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(n))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4A<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5618551-113959<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4C<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5624171-113959<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=35736893&amp;loc=d3e80748-113994<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativesMethodsOfAccountingHedgingDerivatives</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3630-109257<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerSharePolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueOfFinancialInstrumentsPolicy">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for determining the fair value of financial instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13279-108611<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 60<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=7493716&amp;loc=d3e21868-110260<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for goodwill and intangible assets. This accounting policy also may address how an entity assesses and measures impairment of goodwill and intangible assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16265-109275<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=35741047&amp;loc=d3e13816-109267<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32840-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 30<br> -Section 05<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6423966&amp;loc=d3e40913-109327<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 954<br> -SubTopic 740<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6491622&amp;loc=d3e9504-115650<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 17<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32809-109319<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e32247-109318<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e32280-109318<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxPolicyTextBlock</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, basis of assets, depreciation and depletion methods used, including composite deprecation, estimated useful lives, capitalization policy, accounting treatment for costs incurred for repairs and maintenance, capitalized interest and the method it is calculated, disposals and impairments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for determining the allowance for doubtful accounts for trade and other accounts receivable balances, and when impairments, charge-offs or recoveries are recognized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=49124121&amp;loc=d3e5144-111524<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 4<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for revenue recognition for sales of a service. The entity also may disclose how it recognizes cost of sales for such a service transaction and its treatment of any unearned or deferred revenue that arises from the transaction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 13.B.Q1)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012821&amp;loc=d3e214044-122780<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 20<br> -Section 05<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=51660065&amp;loc=d3e47769-111627<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 13<br> -Section B<br> -Paragraph Question 1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for stock option and stock incentive plans. This disclosure may include (1) the types of stock option or incentive plans sponsored by the entity (2) the groups that participate in (or are covered by) each plan (3) significant plan provisions and (4) how stock compensation is measured, and the methodologies and significant assumptions used to determine that measurement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b),(f)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=51801978&amp;loc=d3e6061-108592<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=51801978&amp;loc=d3e6143-108592<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=51801978&amp;loc=d3e6132-108592<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6761337264">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Significant Accounting Policies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_ScheduleOfGraduationFundLiabilityTableTextBlock', window );">Schedule of graduation fund liability</a></td>
<td class="text"><div>
<p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"></p>
<table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0">
<tr style="vertical-align: bottom;">
<td style="text-align: center; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"><b>&#160;</b></td>
<td style="text-align: center; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"><b>&#160;</b></td>
<td style="text-align: center; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6"><b>Year Ended December 31,</b></td>
<td style="text-align: center; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"><b>&#160;</b></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: center; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"><b>&#160;</b></td>
<td style="text-align: center; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"><b>&#160;</b></td>
<td style="text-align: center; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><b>2014</b></td>
<td style="text-align: center; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"><b>&#160;</b></td>
<td style="text-align: center; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"><b>&#160;</b></td>
<td style="text-align: center; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><b>2015</b></td>
<td style="text-align: center; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;"><b>&#160;</b></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="width: 950.4px; text-align: left; text-indent: 0px; padding-left: 0px;">Balance at beginning of year</td>
<td style="width: 12.8px; text-indent: 0px; padding-left: 0px;">&#160;</td>
<td style="width: 12.8px; text-align: left; text-indent: 0px; padding-left: 0px;">$</td>
<td style="width: 112.8px; text-align: right; text-indent: 0px; padding-left: 0px;">1,898</td>
<td style="width: 12.8px; text-align: left; text-indent: 0px; padding-left: 0px;">&#160;</td>
<td style="width: 12.8px; text-indent: 0px; padding-left: 0px;">&#160;</td>
<td style="width: 12px; text-align: left; text-indent: 0px; padding-left: 0px;">$</td>
<td style="width: 112px; text-align: right; text-indent: 0px; padding-left: 0px;">9,706</td>
<td style="width: 12px; text-align: left; text-indent: 0px; padding-left: 0px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-align: left; text-indent: 0px; padding-left: 0px;">Revenue deferred</td>
<td style="text-indent: 0px; padding-left: 0px;">&#160;</td>
<td style="text-align: left; text-indent: 0px; padding-left: 0px;">&#160;</td>
<td style="text-align: right; text-indent: 0px; padding-left: 0px;">8,507</td>
<td style="text-align: left; text-indent: 0px; padding-left: 0px;">&#160;</td>
<td style="text-indent: 0px; padding-left: 0px;">&#160;</td>
<td style="text-align: left; text-indent: 0px; padding-left: 0px;">&#160;</td>
<td style="text-align: right; text-indent: 0px; padding-left: 0px;">17,882</td>
<td style="text-align: left; text-indent: 0px; padding-left: 0px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;">Benefit redeemed</td>
<td style="text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;">&#160;</td>
<td style="text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td>
<td style="text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">(699</td>
<td style="text-align: left; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;">)</td>
<td style="text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;">&#160;</td>
<td style="text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td>
<td style="text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">(6,651</td>
<td style="text-align: left; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px;">)</td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-align: left; text-indent: 0px; padding-bottom: 4pt; padding-left: 10pt;">Balance at end of year</td>
<td style="text-indent: 0px; padding-bottom: 4pt; padding-left: 0px;">&#160;</td>
<td style="text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td>
<td style="text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">9,706</td>
<td style="text-align: left; text-indent: 0px; padding-bottom: 4pt; padding-left: 0px;">&#160;</td>
<td style="text-indent: 0px; padding-bottom: 4pt; padding-left: 0px;">&#160;</td>
<td style="text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td>
<td style="text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">20,937</td>
</tr>
</table>
</div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock', window );">Schedule of tuition receivable and allowance for doubtful accounts</a></td>
<td class="text"><table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 632px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0">
<tr>
<td width="459" valign="bottom" style="background: white; padding: 0in; width: 344pt;">
<p class="tchleft" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">&#160;</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="59" valign="bottom" style="background: white; padding: 0in; width: 44pt;" colspan="3">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">2014</font></font></p>
</div>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="24" valign="bottom" style="background: white; padding: 0in; width: 0.25in;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="59" valign="bottom" style="background: white; padding: 0in; width: 44pt;" colspan="3">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">2015</font></font></p>
</div>
</td>
</tr>
<tr>
<td width="459" valign="bottom" style="background: #cceeff; padding: 0in; width: 344pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Tuition receivable</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="43" valign="bottom" style="background: #cceeff; padding: 0in; width: 32pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">25,777</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="24" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.25in;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="43" valign="bottom" style="background: #cceeff; padding: 0in; width: 32pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">28,543</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="459" valign="bottom" style="background: white; padding: 0in; width: 344pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Allowance for doubtful accounts</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height:
 normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="43" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(8,835</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="24" valign="bottom" style="background: white; padding: 0in; width: 0.25in;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="43" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(10,024</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
</tr>
<tr>
<td width="459" valign="bottom" style="background: #cceeff; padding: 0in; width: 344pt;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Tuition receivable, net</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="43" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">16,942</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="24" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.25in;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="43" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 32pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal;
 font-family: timesnewromanpsstd-regular; font-size: 10pt;">18,519</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
</table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_ScheduleOfAllowanceForDoubtfulAccountsTableTextBlock', window );">Schedule of allowance for doubtful accounts</a></td>
<td class="text"><table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0">
<tr>
<td width="57%" valign="bottom" style="padding: 0in; width: 347px;">
<p class="tchleft" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">&#160;</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="padding: 0in; width: 59px;" colspan="3">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2013</p>
</div>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="padding: 0in; width: 18px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="padding: 0in; width: 56px;" colspan="3">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2014</p>
</div>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="padding: 0in; width: 18px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="padding: 0in; width: 56px;" colspan="3">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2015</p>
</div>
</td>
</tr>
<tr>
<td width="57%" valign="bottom" style="background: #cceeff; padding: 0in; width: 347px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Beginning allowance for doubtful accounts</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; width: 43px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">6,596</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 18px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size:
 10pt;">$</p>
</td>
<td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; width: 42px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">10,303</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 18px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; width: 42px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">8,835</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="57%" valign="bottom" style="padding: 0in; width: 347px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Additions charged to expense</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 8px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="6%" valign="bottom" style="padding: 0in; width: 43px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">22,225</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 8px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="padding: 0in; width: 18px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="6%" valign="bottom" style="padding: 0in; width: 42px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">16,947</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="padding: 0in; width: 18px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="6%" valign="bottom" style="padding: 0in; width: 42px;">
<p
 class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">13,067</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="57%" valign="bottom" style="background: #cceeff; padding: 0in; width: 347px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Write-offs, net of recoveries</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 8px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="6%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 43px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(18,518</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 18px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="6%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 42px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(18,415</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 18px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="6%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 42px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(11,878</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
</tr>
<tr>
<td width="57%" valign="bottom" style="padding: 0in; width: 347px;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Ending allowance for doubtful accounts</font></p>
</td>
<td width="1%" valign="bottom"
 style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none double; padding: 0in; width: 8px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="6%" valign="bottom" style="border-style: none none double; padding: 0in; width: 43px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">10,303</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 8px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="padding: 0in; width: 18px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="6%" valign="bottom" style="border-style: none none double; padding: 0in; width: 42px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">8,835</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="padding: 0in; width: 18px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="6%" valign="bottom" style="border-style: none none double; padding: 0in; width: 42px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">10,024</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
</table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock', window );">Schedule of reconciliation of shares used to calculate basic and diluted earnings per share</a></td>
<td class="text"><table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0">
<tr>
<td width="60%" valign="bottom" style="padding: 0in; width: 364px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="padding: 0in; width: 48px;">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2013</p>
</div>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="padding: 0in; width: 23px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="padding: 0in; width: 48px;">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2014</p>
</div>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="padding: 0in; width: 22px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="padding: 0in; width: 47px;">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2015</p>
</div>
</td>
</tr>
<tr>
<td width="60%" valign="bottom" style="background: #cceeff; padding: 0in; width: 364px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Weighted average shares outstanding used to compute basic earnings per share</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 48px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">10,584</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 23px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 48px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">10,561</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 22px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family:
 timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 47px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">10,588</p>
</td>
</tr>
<tr>
<td width="60%" valign="bottom" style="padding: 0in; width: 364px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Incremental shares issuable upon the assumed exercise of stock<br />options</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="padding: 0in; width: 48px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="padding: 0in; width: 23px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="padding: 0in; width: 48px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">6</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="padding: 0in; width: 22px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="padding: 0in; width: 47px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">6</p>
</td>
</tr>
<tr>
<td width="60%" valign="bottom" style="background: #cceeff; padding: 0in; width: 364px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Unvested restricted stock and restricted stock units</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 48px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">40</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 23px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 48px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">83</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="background: #cceeff; padding: 0in; width: 22px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular;
 font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 47px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">146</p>
</td>
</tr>
<tr>
<td width="60%" valign="bottom" style="padding: 0in; width: 364px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Shares used to compute diluted earnings per share</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="border-style: none none double; padding: 0in; width: 48px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">10,624</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="padding: 0in; width: 23px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="border-style: none none double; padding: 0in; width: 48px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">10,650</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="3%" valign="bottom" style="padding: 0in; width: 22px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="border-style: none none double; padding: 0in; width: 47px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">10,740</p>
</td>
</tr>
</table><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_ScheduleOfAllowanceForDoubtfulAccountsTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of allowance for doubtful accounts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_ScheduleOfAllowanceForDoubtfulAccountsTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_ScheduleOfGraduationFundLiabilityTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of graduation fund liability.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.3,4)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.</p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Restructuring and Related Charges (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
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<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
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<p class="tbody" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 10pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">Balance at December 31, 2012</p>
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<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
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<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p align="left" class="tbodyrightalign" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">$</p>
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<td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: #cceeff;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#8212;</p>
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<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
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<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
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<td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
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<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
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<p align="left" class="tbodyrightalign" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">$</p>
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<td width="73" valign="bottom" style="width: 55pt; padding: 0in; background: #cceeff;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#8212;</p>
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<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
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<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p align="left" class="tbodyrightalign" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">$</p>
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<td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: #cceeff;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#8212;</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
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<td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: white;">
<p class="tbodyind1" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 20pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"><font lang="en-gb">Restructuring and other charges<font class="superscript" style="font-size: 6pt; vertical-align: super;">(1)</font></font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: white;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">47,792</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="73" valign="bottom" style="width: 55pt; padding: 0in; background: white;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">6,898</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: white;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">54,690</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: #cceeff;">
<p class="tbodyind1" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 20pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">Payments</p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color:
 black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: #cceeff;">
<p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">(103</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p align="left" class="tbodybracket" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">)</p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="73" valign="bottom" style="width: 55pt; padding: 0in; background: #cceeff;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">(6,120</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p align="left" class="tbodyrule1" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">)</p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: #cceeff;">
<p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">(6,223</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p align="left" class="tbodybracket" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">)</p>
</td>
</tr>
<tr>
<td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: white;">
<p class="tbodyind1" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 20pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"><font lang="en-gb">Adjustments<font class="superscript" style="font-size: 6pt; vertical-align: super;">(2)</font></font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;">
<p class="tbodyrule1brack" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;">
<p class="tbodyrule1brack" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">(5,139</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p align="left" class="tbodyrule1brack" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">)</p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="73" valign="bottom" style="width: 55pt;
 border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">1,438</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;">
<p class="tbodyrule1brack" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;">
<p class="tbodyrule1brack" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">(3,701</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p align="left" class="tbodyrule1brack" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">)</p>
</td>
</tr>
<tr>
<td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: #cceeff;">
<p class="tbody" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 10pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">Balance at December 31, 2013<font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 6pt; line-height: normal; font-family: timesnewromanpsstd-bold;"><sup>(1)</sup></font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; border: none; padding: 0in; background: #cceeff;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; border: none; padding: 0in; background: #cceeff;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">42,550</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; border: none; padding: 0in; background: #cceeff;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="73" valign="bottom" style="width: 55pt; border: none; padding: 0in; background: #cceeff;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">2,216</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; border: none; padding: 0in; background: #cceeff;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; border: none; padding: 0in; background: #cceeff;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">44,766</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular;
 color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: white;">
<p class="tbodyind1" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 20pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">Payments</p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: white;">
<p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">(12,418</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p align="left" class="tbodybracket" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">)</p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="73" valign="bottom" style="width: 55pt; padding: 0in; background: white;">
<p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">(2,138</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p align="left" class="tbodybracket" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">)</p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: white;">
<p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">(14,556</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p align="left" class="tbodybracket" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">)</p>
</td>
</tr>
<tr>
<td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: #cceeff;">
<p class="tbodyind1" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 20pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"><font lang="en-gb">Adjustments<font class="superscript" style="font-size: 6pt; vertical-align: super;">(2)</font></font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;">
<p class="tbodyrule1brack" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;">
<p class="tbodyrule1brack" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">(2,849</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p align="left" class="tbodyrule1brack" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">)</p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: #cceeff;">
<p
 class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="73" valign="bottom" style="width: 55pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">(78</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p align="left" class="tbodyrule1" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">)</p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;">
<p class="tbodyrule1brack" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: #cceeff;">
<p class="tbodyrule1brack" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">(2,927</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p align="left" class="tbodyrule1brack" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">)</p>
</td>
</tr>
<tr>
<td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: white;">
<p class="tbody" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 10pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">Balance at December 31, 2014<font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 6pt; line-height: normal; font-family: timesnewromanpsstd-bold;"><sup>(1)</sup></font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; border: none; padding: 0in; background: white;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; border: none; padding: 0in; background: white;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">27,283</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; border: none; padding: 0in; background: white;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="73" valign="bottom" style="width: 55pt; border: none; padding: 0in; background: white;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#8212;</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt;
 font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; border: none; padding: 0in; background: white;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; border: none; padding: 0in; background: white;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">27,283</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: #cceeff;">
<p class="tbodyind1" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 20pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">Payments</p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
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<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
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</td>
<td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: #cceeff;">
<p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">(7,754</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
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</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
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<td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: #cceeff;">
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<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
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</td>
<td width="73" valign="bottom" style="width: 55pt; padding: 0in; background: #cceeff;">
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</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: #cceeff;">
<p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">(7,754</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p align="left" class="tbodybracket" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">)</p>
</td>
</tr>
<tr>
<td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: white;">
<p class="tbodyind1" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 20pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;"><font lang="en-gb">Adjustments<font class="superscript" style="font-size: 6pt; vertical-align: super;">(2)</font></font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
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<td width="48" valign="bottom" style="width: 0.5in; border-style: none none solid; border-bottom-color:
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<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">526</p>
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<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
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<td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: white;">
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<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
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<td width="8" valign="bottom" style="width: 6pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="73" valign="bottom" style="width: 55pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#8212;</p>
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<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in; background: white;">
<p class="tbodyrule1" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">526</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
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</td>
</tr>
<tr>
<td width="352" valign="bottom" style="width: 264pt; padding: 0in; background: #cceeff;">
<p class="tbody" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 10pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">Balance at December 31, 2015<font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 6pt; line-height: normal; font-family: timesnewromanpsstd-bold;"><sup>(1)</sup></font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in; background: #cceeff;">
<p align="left" class="tbodyrule2" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">$</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in; background: #cceeff;">
<p class="tbodyrule2" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">20,055</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
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<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
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</td>
<td width="16" valign="bottom" style="width: 12pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
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<p align="left" class="tbodyrule2" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">$</p>
</td>
<td width="73" valign="bottom" style="width: 55pt; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in; background: #cceeff;">
<p class="tbodyrule2" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#8212;</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in; background: #cceeff;">
<p align="left" class="tbodyrule2" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">$</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in; background: #cceeff;">
<p class="tbodyrule2" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">20,055</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
</tr>
</table>
<p class="tablefootnotef" style="color: black; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 0in 0in 0.0001pt 20pt; border: none; text-indent: -20pt; padding: 0in; font-size: 8pt; font-family: timesnewromanpsstd-regular;">____________</p>
<p class="tablefootnotef" style="color: black; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 0in 0in 0.0001pt 20pt; border: none; text-indent: -20pt; padding: 0in; font-size: 8pt; font-family: timesnewromanpsstd-regular;">(1)<font style="font-size: 8.5pt;">&#160;&#160;&#160;</font>&#160;The current portion of restructuring liabilities was $6.0 million and $4.8 million as of December 31, 2014 and December 31, 2015, respectively, which are included in accounts payable and accrued expenses. The long-term portion is included in other long-term liabilities.</p>
<p class="tablefootnotem" style="color: black; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 1pt 0in 0.0001pt 20pt; text-indent: -20pt; line-height: 10pt; font-size: 8pt; font-family: timesnewromanpsstd-regular;">(2)<font style="font-size: 8.5pt;">&#160;&#160;&#160;</font>&#160;Adjustments for lease and related costs include accretion of interest on lease costs, partially offset by changes in the timing and expected income from sublease agreements signed during the period. Adjustments for severance and other employee separation costs include amounts related to employees who were re-hired to other roles within the Company and were not paid severance.</p><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestructuringAndRelatedActivitiesAbstract">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestructuringAndRelatedActivitiesAbstract</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 420<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6394359&amp;loc=d3e17939-110869<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 420<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB Topic 5.P.4(b)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=27011515&amp;loc=d3e140904-122747<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6760929120">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Property and Equipment (Tables)<br></strong></div></th>
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<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font lang="en-gb">Estimated useful<br />life (years)</font></p>
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<td width="360" valign="bottom" style="background: #cceeff; padding: 0in; width: 3.75in;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Land</p>
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<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
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<td width="52" valign="bottom" style="background: #cceeff; padding: 0in; width: 39pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">7,138</p>
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<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
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<td width="52" valign="bottom" style="background: #cceeff; padding: 0in; width: 39pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">7,138</p>
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<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="96" valign="bottom" style="background: #cceeff; padding: 0in; width: 1in;">
<p class="tbodycenteralign" style="margin: 0in 0in 0pt; text-align: center; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
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<td width="360" valign="bottom" style="background: white; padding: 0in; width: 3.75in;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Buildings and improvements</p>
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<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal;
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<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
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<td width="52" valign="bottom" style="background: white; padding: 0in; width: 39pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">18,998</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
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<td width="52" valign="bottom" style="background: white; padding: 0in; width: 39pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">19,109</p>
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<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="96" valign="bottom" style="background: white; padding: 0in; width: 1in;">
<p class="tbodycenteralign" style="margin: 0in 0in 0pt; text-align: center; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">5&#8211;40</p>
</td>
</tr>
<tr>
<td width="360" valign="bottom" style="background: #cceeff; padding: 0in; width: 3.75in;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Furniture, equipment, and computer hardware and software</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
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<td width="52" valign="bottom" style="background: #cceeff; padding: 0in; width: 39pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">153,417</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="52" valign="bottom" style="background: #cceeff; padding: 0in; width: 39pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">150,597</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="96" valign="bottom" style="background: #cceeff; padding: 0in; width: 1in;">
<p class="tbodycenteralign" style="margin: 0in 0in 0pt; text-align: center; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">5&#8211;10</p>
</td>
</tr>
<tr>
<td width="360" valign="bottom" style="background: white; padding: 0in; width: 3.75in;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Leasehold improvements</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td
 width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="52" valign="bottom" style="background: white; padding: 0in; width: 39pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">38,732</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="52" valign="bottom" style="background: white; padding: 0in; width: 39pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">38,639</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="96" valign="bottom" style="background: white; padding: 0in; width: 1in;">
<p class="tbodycenteralign" style="margin: 0in 0in 0pt; text-align: center; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">3&#8211;10</p>
</td>
</tr>
<tr>
<td width="360" valign="bottom" style="background: #cceeff; padding: 0in; width: 3.75in;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Construction in progress</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="52" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 39pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">1,942</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="52" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 39pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">4,251</p>
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<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<p class="tbodycenteralign" style="margin: 0in 0in 0pt; text-align: center; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
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<tr>
<td width="360" valign="bottom" style="background: white; padding: 0in; width: 3.75in;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom"
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<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="8" valign="bottom" style="background: white; padding: 0in; border: currentcolor; border-image: none; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="52" valign="bottom" style="background: white; padding: 0in; border: currentcolor; border-image: none; width: 39pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">220,227</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="8" valign="bottom" style="background: white; padding: 0in; border: currentcolor; border-image: none; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
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<td width="52" valign="bottom" style="background: white; padding: 0in; border: currentcolor; border-image: none; width: 39pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">219,734</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="96" valign="bottom" style="background: white; padding: 0in; width: 1in;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="360" valign="bottom" style="background: #cceeff; padding: 0in; width: 3.75in;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Accumulated depreciation and amortization</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="52" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 39pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(137,961</p>
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<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="52" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 39pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(142,595</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="96" valign="bottom" style="background: #cceeff; padding: 0in; width: 1in;">
<p
 class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="360" valign="bottom" style="background: white; padding: 0in; width: 3.75in;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="52" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 39pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">82,266</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="52" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 39pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">77,139</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="96" valign="bottom" style="background: white; padding: 0in; width: 1in;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair Value Measurement (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="35%" valign="bottom" style="padding: 0in; width: 215px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="14%" valign="bottom" style="padding: 0in; width: 85px;" colspan="2">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)</font></font></p>
</div>
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="10%" valign="bottom" style="padding: 0in; width: 63px;" colspan="2">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">Significant<br />Other<br />Observable<br />Inputs<br />(Level 2)</font></font></p>
</div>
</td>
<td width="1%" valign="bottom" style="padding: 0in;
 width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="10%" valign="bottom" style="padding: 0in; width: 67px;" colspan="2">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">Significant Unobservable Inputs<br />(Level 3)</font></font></p>
</div>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 215px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">Assets:</font></font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 58px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="12%" valign="bottom" style="background: #cceeff; padding: 0in; width: 78px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 56px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td
 width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 60px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<tr>
<td width="35%" valign="bottom" style="padding: 0in; width: 215px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Cash equivalents:</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="padding: 0in; width: 58px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="12%" valign="bottom" style="padding: 0in; width: 78px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="padding: 0in; width: 56px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="padding: 0in; width: 60px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 215px;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Money market funds</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family:
 timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 58px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">100</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="12%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 78px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">100</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 56px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 60px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="padding: 0in; width: 215px;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Total assets at fair value on a recurring basis</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom"
 style="border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="9%" valign="bottom" style="border-style: none none double; padding: 0in; width: 58px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">100</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="12%" valign="bottom" style="border-style: none none double; padding: 0in; width: 78px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">100</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="9%" valign="bottom" style="border-style: none none double; padding: 0in; width: 56px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="9%" valign="bottom" style="border-style: none none double; padding: 0in; width: 60px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 215px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">Liabilities:</font></font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom"
 style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 58px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="12%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 78px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 56px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 60px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="padding: 0in; width: 215px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Other long-term liabilities:</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="padding: 0in; width: 58px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding:
 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="12%" valign="bottom" style="padding: 0in; width: 78px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="padding: 0in; width: 56px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="padding: 0in; width: 60px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 215px;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Deferred payments</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 58px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">3,278</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family:
 timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="12%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 78px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 56px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 60px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">3,278</p>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="padding: 0in; width: 215px;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Total liabilities at fair value on a recurring basis</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="9%" valign="bottom" style="border-style: none none double; padding: 0in; width: 58px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">3,278</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="12%" valign="bottom" style="border-style: none none double; padding: 0in; width: 78px; border-bottom-color: windowtext;
 border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="9%" valign="bottom" style="border-style: none none double; padding: 0in; width: 56px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="9%" valign="bottom" style="border-style: none none double; padding: 0in; width: 60px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">3,278</p>
</td>
</tr>
</table>
<table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0">
<tr>
<td width="35%" valign="bottom" style="padding: 0in; width: 211px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;"><br /></font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="10%" valign="bottom" style="padding: 0in; width: 66px;" colspan="2">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="45%" valign="bottom" style="padding: 0in; width: 271px;" colspan="12">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">Fair Value Measurements at Reporting Date
 Using</font></font></p>
</div>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="padding: 0in; width: 211px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="10%" valign="bottom" style="padding: 0in; width: 66px;" colspan="2">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">December 31,<br />2014</font></font></p>
</div>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="14%" valign="bottom" style="padding: 0in; width: 84px;" colspan="2">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">Quoted Prices in<br />Active Markets for<br />Identical<br />Assets/Liabilities<br />(Level 1)</font></font></p>
</div>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="10%" valign="bottom" style="padding: 0in; width: 61px;" colspan="2">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">Significant<br />Other<br />Observable<br />Inputs<br />(Level 2)</font></font></p>
</div>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="10%" valign="bottom" style="padding: 0in; width: 64px;" colspan="2">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">Significant<br />Unobservable<br />Inputs<br />(Level 3)</font></font></p>
</div>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 211px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">Assets:</font></font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font
 style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 58px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="12%" valign="bottom" style="background: #cceeff; padding: 0in; width: 77px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 54px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 57px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="padding: 0in; width: 211px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Cash equivalents:</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 8px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="padding: 0in; width: 58px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size:
 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="12%" valign="bottom" style="padding: 0in; width: 77px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="padding: 0in; width: 54px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="padding: 0in; width: 57px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 211px;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Money market funds</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 58px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">8,275</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color:
 black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="12%" valign="bottom" style="background: #cceeff; padding: 0in; width: 77px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">8,275</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 54px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 57px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="padding: 0in; width: 211px;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Interest rate swaps</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 8px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="9%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 58px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">143</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="12%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 77px;
 border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="9%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 54px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">143</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="9%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 57px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 211px;">
<p class="tbodyind2" style="margin: 0in 0in 0pt 30pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Total assets at fair value on a recurring basis</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 8px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 58px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">8,418</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="12%" valign="bottom" style="background: #cceeff;
 border-style: none none double; padding: 0in; width: 77px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">8,275</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 54px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">143</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 57px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="padding: 0in; width: 211px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">Liabilities:</font></font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 8px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 58px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="12%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width:
 77px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 54px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 57px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 211px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Other long-term liabilities:</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 58px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="12%" valign="bottom" style="background: #cceeff; padding: 0in; width: 77px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family:
 timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 54px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 57px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="padding: 0in; width: 211px;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Deferred payments</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 8px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="9%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 58px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">2,398</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="12%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 77px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom"
 style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="9%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 54px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="9%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 57px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">2,398</p>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 211px;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Total liabilities at fair value on a recurring basis</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 8px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 58px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">2,398</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="12%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 77px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size:
 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 54px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="9%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 57px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">2,398</p>
</td>
</tr>
</table>
<p><br class="apple-interchange-newline" /><br class="apple-interchange-newline" /></p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock', window );">Schedule of changes in fair value of level 3 liability</a></td>
<td class="text"><p class="textind" style="color: black; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 6pt 0in 10pt; text-indent: 20pt; line-height: 12pt; font-size: 10pt; font-family: timesnewromanpsstd-regular;"></p>
<table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0">
<tr>
<td width="496" valign="bottom" style="width: 372pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="64" valign="bottom" style="width: 48pt; padding: 0in; background: white;" colspan="3">
<div style="border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in;">
<p class="tch" style="margin: 0in 0in 0.0001pt; line-height: normal; border: none; padding: 0in 0in 0pt; text-align: center; font-size: 8pt; font-family: timesnewromanpsstd-bold; color: black; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">2014</font></font></p>
</div>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="64" valign="bottom" style="width: 48pt; padding: 0in; background: white;" colspan="3">
<div style="border-style: none none solid; border-bottom-color: windowtext; border-bottom-width: 1pt; padding: 0in;">
<p class="tch" style="margin: 0in 0in 0.0001pt; line-height: normal; border: none; padding: 0in 0in 0pt; text-align: center; font-size: 8pt; font-family: timesnewromanpsstd-bold; color: black; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">2015</font></font></p>
</div>
</td>
</tr>
<tr>
<td width="496" valign="bottom" style="width: 372pt; padding: 0in; background: #cceeff;">
<p class="tbody" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 10pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">Balance at beginning of year</p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p align="left" class="tbodyrightalign" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">$</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: #cceeff;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">2,115</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p align="left" class="tbodyrightalign" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">$</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: #cceeff;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">2,398</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="496" valign="bottom" style="width: 372pt; padding: 0in; background: white;">
<p class="tbody" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 10pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">Amounts earned</p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: white;">
<p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">(545</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p align="left" class="tbodybracket" style="text-align: left; line-height:
 normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">)</p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; padding: 0in; background: white;">
<p class="tbodybracket" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">(756</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p align="left" class="tbodybracket" style="text-align: left; line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">)</p>
</td>
</tr>
<tr>
<td width="496" valign="bottom" style="width: 372pt; padding: 0in 0in 1pt; background-color: #cceeff;">
<p class="tbody" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 10pt; text-indent: -10pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">Adjustments to fair value</p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in 0in 1pt; background-color: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding-top: 0in; padding-right: 0in; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; padding-left: 0in; background-color: #cceeff;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; padding-top: 0in; padding-right: 0in; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; padding-left: 0in; background-color: #cceeff;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">828</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in 0in 1pt; background-color: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in 0in 1pt; background-color: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding-top: 0in; padding-right: 0in; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; padding-left: 0in; background-color: #cceeff;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">&#160;</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; padding-top: 0in; padding-right: 0in; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; padding-left: 0in; background-color: #cceeff;">
<p class="tbodyrightalign" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt; text-align: right; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">1,636</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in 0in 1pt; background-color: #cceeff;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="496" valign="bottom" style="width: 372pt; padding: 0in; background: white;">
<p class="tbody" style="line-height: normal; padding-bottom: 3px; margin: 0in 0in 0.0001pt 10pt; text-indent: 0pt; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">Balance at end of year</p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in; background: white;">
<p align="left" class="tbodyrule2" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">$</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in; background: white;">
<p class="tbodyrule2" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">2,398</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="width: 8pt; padding: 0in; background: white;">
<p class="noparagraphstyle" style="line-height: normal; margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: minionpro-regular; color: black;"><font style="font-family: timesnewromanpsstd-bold; color: windowtext;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="width: 6pt; border-style: none none double; border-bottom-color: windowtext; border-bottom-width:
 2.25pt; padding: 0in; background: white;">
<p align="left" class="tbodyrule2" style="text-align: left; line-height: normal; border: none; margin: 0in 0in 0.0001pt; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">$</p>
</td>
<td width="48" valign="bottom" style="width: 0.5in; border-style: none none double; border-bottom-color: windowtext; border-bottom-width: 2.25pt; padding: 0in; background: white;">
<p class="tbodyrule2" style="line-height: normal; border: none; margin: 0in 0in 0.0001pt; text-align: right; padding: 0in; font-size: 10pt; font-family: timesnewromanpsstd-regular; color: black;">3,278</p>
</td>
<td width="8" valign="bottom" style="width: 6pt; padding: 0in; background: white;">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).</p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock Options, Restricted Stock and Restricted Stock Units (Tables)<br></strong></div></th>
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<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="66%" valign="bottom" style="background: #cceeff; padding: 0in; width: 404px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Balance, December 31, 2012</p>
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<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">434,439</p>
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<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
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<td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; width: 83px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">178.88</p>
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<td width="66%" valign="bottom" style="padding: 0in; width: 404px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="8%" valign="bottom" style="padding: 0in; width: 49px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
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<td width="13%" valign="bottom" style="padding: 0in; width: 83px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">57.90</p>
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<td width="66%" valign="bottom" style="background: #cceeff; padding: 0in; width: 404px;">
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="8%" valign="bottom" style="background: #cceeff; padding: 0in; width: 49px;">
<p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(51,916</p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
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<td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; width: 83px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">164.22</p>
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<tr>
<td width="66%" valign="bottom" style="padding: 0in; width: 404px;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Forfeitures</p>
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="8%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 49px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(120,491</p>
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<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="13%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 83px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">140.30</p>
</td>
</tr>
<tr>
<td width="66%" valign="bottom" style="background: #cceeff; padding: 0in; width: 404px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Balance, December 31, 2013</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 49px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">487,773</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 83px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">131.51</p>
</td>
</tr>
<tr>
<td width="66%" valign="bottom" style="padding: 0in; width: 404px;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Grants</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8%" valign="bottom" style="padding: 0in; width: 49px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">108,606</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal;
 font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="13%" valign="bottom" style="padding: 0in; width: 83px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">38.95</p>
</td>
</tr>
<tr>
<td width="66%" valign="bottom" style="background: #cceeff; padding: 0in; width: 404px;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Vested shares</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8%" valign="bottom" style="background: #cceeff; padding: 0in; width: 49px;">
<p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(69,434</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; width: 83px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">158.97</p>
</td>
</tr>
<tr>
<td width="66%" valign="bottom" style="padding: 0in; width: 404px;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Forfeitures</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 49px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(2,729</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size:
 10pt;">&#160;</p>
</td>
<td width="13%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 83px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">93.44</p>
</td>
</tr>
<tr>
<td width="66%" valign="bottom" style="background: #cceeff; padding: 0in; width: 404px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Balance, December 31, 2014</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 49px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">524,216</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 83px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">115.67</p>
</td>
</tr>
<tr>
<td width="66%" valign="bottom" style="padding: 0in; width: 404px;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Grants</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8%" valign="bottom" style="padding: 0in; width: 49px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">126,655</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="13%" valign="bottom" style="padding: 0in; width: 83px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">61.00</p>
</td>
</tr>
<tr>
<td width="66%" valign="bottom" style="background: #cceeff; padding: 0in; width: 404px;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Vested shares</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding:
 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8%" valign="bottom" style="background: #cceeff; padding: 0in; width: 49px;">
<p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(13,725</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; width: 83px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">52.94</p>
</td>
</tr>
<tr>
<td width="66%" valign="bottom" style="padding: 0in; width: 404px;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Forfeitures</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 49px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(2,819</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="13%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 83px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">115.55</p>
</td>
</tr>
<tr>
<td width="66%" valign="bottom" style="background: #cceeff; padding: 0in; width: 404px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Balance, December 31, 2015</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td
 width="8%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 49px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">634,327</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="13%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 83px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">104.66</p>
</td>
</tr>
</table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock', window );">Schedule of stock option activity and other stock option information</a></td>
<td class="text"><table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0">
<tr>
<td width="35%" valign="bottom" style="padding: 0in; width: 216px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="9%" valign="bottom" style="padding: 0in; width: 57px;" colspan="2">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">Number of<br />shares</font></font></p>
</div>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="13%" valign="bottom" style="padding: 0in; width: 83px;" colspan="2">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">Weighted-average exercise price</font></font></p>
</div>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="13%" valign="bottom" style="padding: 0in; width: 81px;">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">Weighted-<br />average<br />remaining<br />contractual<br />life (years)</font></font></p>
</div>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="12%" valign="bottom" style="padding: 0in; width: 72px;" colspan="2">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">Aggregate<br />intrinsic<br />value</font></font><font class="superscript" style="font-size: 6pt; vertical-align: super;"><font lang="en-gb" style="font-size: 6pt;">(1)</font></font><font class="bold" style="font-weight: bold;"><font lang="en-gb"><br />(in thousands)</font></font></p>
</div>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 216px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Balance, December 31, 2012</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 50px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right;
 color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">100,000</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="12%" valign="bottom" style="background: #cceeff; padding: 0in; width: 76px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">107.28</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; width: 81px;">
<p class="tbodyrightalign" style="font: 10pt/normal timesnewromanpsstd-regular; text-align: center; color: black; padding-bottom: 3px; margin-top: 0in; margin-bottom: 0pt; font-stretch: normal;">0.1</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="10%" valign="bottom" style="background: #cceeff; padding: 0in; width: 65px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="padding: 0in; width: 216px;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Grants</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="padding: 0in; width: 50px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">100,000</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p
 class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="12%" valign="bottom" style="padding: 0in; width: 76px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">51.95</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="13%" valign="bottom" style="padding: 0in; width: 81px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<tr>
<td width="35%" valign="bottom" style="padding: 0in; width: 216px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
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<td width="12%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 76px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="13%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 81px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
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<td width="10%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 65px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
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<tr>
<td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 216px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Balance, December 31, 2013</p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 50px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">100,000</p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
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</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
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</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
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</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
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<td width="12%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 76px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">51.95</p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 81px;">
<p class="tbodyrightalign" style="font: 10pt/normal timesnewromanpsstd-regular; text-align: center; color: black; padding-bottom: 3px; margin-top: 0in; margin-bottom: 0pt; font-stretch: normal;">7.0</p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
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</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
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</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
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</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
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<td width="10%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 65px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
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<tr>
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<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
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<td width="7%" valign="bottom" style="padding: 0in; width: 50px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
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<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
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<td width="12%" valign="bottom" style="padding: 0in; width: 76px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="13%" valign="bottom" style="padding: 0in; width: 81px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
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<td width="10%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 65px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
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<tr>
<td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 216px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Balance, December 31, 2014</p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
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<td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 50px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">100,000</p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
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<td width="12%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 76px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">51.95</p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="13%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 81px;">
<p
 class="tbodyrightalign" style="font: 10pt/normal timesnewromanpsstd-regular; text-align: center; color: black; padding-bottom: 3px; margin-top: 0in; margin-bottom: 0pt; font-stretch: normal;">6.0</p>
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<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
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</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
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<td width="10%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 65px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">2,233</p>
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<tr>
<td width="35%" valign="bottom" style="padding: 0in; width: 216px;">
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<td width="7%" valign="bottom" style="padding: 0in; width: 50px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
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<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
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<td width="12%" valign="bottom" style="padding: 0in; width: 76px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="13%" valign="bottom" style="padding: 0in; width: 81px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="12%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 76px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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<td width="13%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 81px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p align="left" class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
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<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
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</td>
<td width="1%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="10%" valign="bottom" style="border-style: none none solid; padding: 0in; width: 65px; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="background: #cceeff; padding: 0in; width: 216px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Balance, December 31, 2015</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 50px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">100,000</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
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</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom"
 style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="12%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 76px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">51.95</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="13%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 81px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="font: 10pt/normal timesnewromanpsstd-regular; padding: 0in; text-align: center; color: black; margin-top: 0in; margin-bottom: 0pt; font-stretch: normal;">5.1</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
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</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="10%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 65px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">817</p>
</td>
</tr>
<tr>
<td width="35%" valign="bottom" style="padding: 0in; width: 216px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Exercisable, December 31, 2015</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 50px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">100,000</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="12%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 76px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family:
 timesnewromanpsstd-regular; font-size: 10pt;">51.95</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="13%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 81px;">
<p class="tbodyrightalign" style="font: 10pt/normal timesnewromanpsstd-regular; text-align: center; color: black; padding-bottom: 3px; margin-top: 0in; margin-bottom: 0pt; font-stretch: normal;">5.1</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="10%" valign="bottom" style="padding: 0in; border: currentcolor; border-image: none; width: 65px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">817</p>
</td>
</tr>
</table>
<p class="tablefootnotef" style="font: 8pt/normal timesnewromanpsstd-regular; margin: 0in 0in 0pt 20pt; padding: 0in; border: currentcolor; border-image: none; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">____________</p>
<p class="tablefootnotef" style="font: 8pt/normal timesnewromanpsstd-regular; margin: 0in 0in 0pt 20pt; padding: 0in; border: currentcolor; border-image: none; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">(1)<font style="font-size: 8.5pt;">&#160;&#160;&#160;</font>&#160;The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between the Company&#8217;s closing stock price on the respective trading day and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holder had all options been exercised on the respective trading day. The amount of intrinsic value will change based on the fair market value of the Company&#8217;s common stock.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableTableTextBlock', window );">Summary of number of shares exercisable</a></td>
<td class="text"><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0">
<tr style="vertical-align: bottom;">
<td></td>
<td style="padding-bottom: 1.5pt;">&#160;</td>
<td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">
<p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Number of</b></font></p>
<p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>shares</b></font></p>
</td>
<td style="padding-bottom: 1.5pt;">&#160;</td>
<td style="padding-bottom: 1.5pt;">&#160;</td>
<td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">
<p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Weighted-</b></font></p>
<p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>average</b></font></p>
<p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>exercise&#160;price</b></font></p>
</td>
<td style="padding-bottom: 1.5pt;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="width: 1151px; text-indent: -29.7pt; padding-left: 29.7pt;">Exercisable, December 31, 2013</td>
<td style="width: 16px;">&#160;</td>
<td style="width: 16px; text-align: left;">&#160;</td>
<td style="width: 142px; text-align: right;">-</td>
<td style="width: 16px; text-align: left;">&#160;</td>
<td style="width: 15px;">&#160;</td>
<td style="width: 15px; text-align: left;">$</td>
<td style="width: 141px; text-align: right;">51.95</td>
<td style="width: 15px; text-align: left;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-indent: -29.7pt; padding-left: 29.7pt;">Exercisable, December 31, 2014</td>
<td>&#160;</td>
<td style="text-align: left;">&#160;</td>
<td style="text-align: right;">-</td>
<td style="text-align: left;">&#160;</td>
<td>&#160;</td>
<td style="text-align: left;">$</td>
<td style="text-align: right;">51.95</td>
<td style="text-align: left;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-indent: -29.7pt; padding-left: 29.7pt;">Exercisable, December 31, 2015</td>
<td>&#160;</td>
<td style="text-align: left;">&#160;</td>
<td style="text-align: right;">100,000</td>
<td style="text-align: left;">&#160;</td>
<td>&#160;</td>
<td style="text-align: left;">$</td>
<td style="text-align: right;">51.95</td>
<td style="text-align: left;">&#160;</td>
</tr>
</table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock', window );">Schedule of stock-based compensation expense</a></td>
<td class="text"><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; border-collapse: collapse; font-size-adjust: none; font-stretch: normal;" cellspacing="0" cellpadding="0">
<tr style="vertical-align: bottom;">
<td></td>
<td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td>
<td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2013</td>
<td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td>
<td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td>
<td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td>
<td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td>
<td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td>
<td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td>
<td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="width: 963px; text-align: left; text-indent: -29.7pt; padding-left: 29.7pt;">Instruction and educational support</td>
<td style="width: 16px;">&#160;</td>
<td style="width: 16px; text-align: left;">$</td>
<td style="width: 142px; text-align: right;">1,976</td>
<td style="width: 16px; text-align: left;">&#160;</td>
<td style="width: 16px;">&#160;</td>
<td style="width: 16px; text-align: left;">$</td>
<td style="width: 141px; text-align: right;">1,736</td>
<td style="width: 15px; text-align: left;">&#160;</td>
<td style="width: 15px;">&#160;</td>
<td style="width: 15px; text-align: left;">$</td>
<td style="width: 141px; text-align: right;">2,134</td>
<td style="width: 15px; text-align: left;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-indent: -29.7pt; padding-left: 29.7pt;">Marketing</td>
<td>&#160;</td>
<td style="text-align: left;">&#160;</td>
<td style="text-align: right;">&#8211;</td>
<td style="text-align: left;">&#160;</td>
<td>&#160;</td>
<td style="text-align: left;">&#160;</td>
<td style="text-align: right;">&#8211;</td>
<td style="text-align: left;">&#160;</td>
<td>&#160;</td>
<td style="text-align: left;">&#160;</td>
<td style="text-align: right;">&#8211;</td>
<td style="text-align: left;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; text-indent: -29.7pt; padding-left: 29.7pt;">Admissions advisory</td>
<td>&#160;</td>
<td style="text-align: left;">&#160;</td>
<td style="text-align: right;">&#8211;</td>
<td style="text-align: left;">&#160;</td>
<td>&#160;</td>
<td style="text-align: left;">&#160;</td>
<td style="text-align: right;">&#8211;</td>
<td style="text-align: left;">&#160;</td>
<td>&#160;</td>
<td style="text-align: left;">&#160;</td>
<td style="text-align: right;">&#8211;</td>
<td style="text-align: left;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-align: left; text-indent: -29.7pt; padding-bottom: 1.5pt; padding-left: 29.7pt;">General and administration</td>
<td style="padding-bottom: 1.5pt;">&#160;</td>
<td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td>
<td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">7,315</td>
<td style="text-align: left; padding-bottom: 1.5pt;">&#160;</td>
<td style="padding-bottom: 1.5pt;">&#160;</td>
<td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td>
<td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">7,717</td>
<td style="text-align: left; padding-bottom: 1.5pt;">&#160;</td>
<td style="padding-bottom: 1.5pt;">&#160;</td>
<td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td>
<td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">8,079</td>
<td style="text-align: left; padding-bottom: 1.5pt;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; padding-left: 19.8pt;">Stock-based compensation expense included in operating expense</td>
<td>&#160;</td>
<td style="text-align: left;">&#160;</td>
<td style="text-align: right;">9,291</td>
<td style="text-align: left;">&#160;</td>
<td>&#160;</td>
<td style="text-align: left;">&#160;</td>
<td style="text-align: right;">9,453</td>
<td style="text-align: left;">&#160;</td>
<td>&#160;</td>
<td style="text-align: left;">&#160;</td>
<td style="text-align: right;">10,213</td>
<td style="text-align: left;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-align: left; text-indent: -39.6pt; padding-bottom: 1.5pt; padding-left: 39.6pt;">Tax benefit</td>
<td style="padding-bottom: 1.5pt;">&#160;</td>
<td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td>
<td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">3,698</td>
<td style="text-align: left; padding-bottom: 1.5pt;">&#160;</td>
<td style="padding-bottom: 1.5pt;">&#160;</td>
<td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td>
<td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">3,734</td>
<td style="text-align: left; padding-bottom: 1.5pt;">&#160;</td>
<td style="padding-bottom: 1.5pt;">&#160;</td>
<td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td>
<td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">4,032</td>
<td style="text-align: left; padding-bottom: 1.5pt;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font: 13px/normal 'times new roman', times, serif; text-align: left; color: #000000; text-transform: none; text-indent: -19.8pt; letter-spacing: normal; padding-bottom: 4pt; padding-left: 39.6pt; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">Stock-based compensation expense, net of tax</td>
<td style="font: 13px/normal 'times new roman', times, serif; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; padding-bottom: 4pt; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width:
 0px;">&#160;</td>
<td style="font: 13px/normal 'times new roman',; font-size-adjust: none; font-stretch: normal;">$</td>
<td style="font: 13px/normal 'times new roman', times, serif; text-align: right; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">5,593</td>
<td style="font: 13px/normal 'times new roman', times, serif; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; padding-bottom: 4pt; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</td>
<td style="font: 13px/normal 'times new roman', times, serif; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; padding-bottom: 4pt; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</td>
<td style="font: 13px/normal 'times new roman', times, serif; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">$</td>
<td style="font: 13px/normal 'times new roman', times, serif; text-align: right; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">5,719</td>
<td style="font: 13px/normal 'times new roman', times, serif; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; padding-bottom: 4pt; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</td>
<td style="font: 13px/normal 'times new roman', times, serif; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; padding-bottom: 4pt; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</td>
<td style="font: 13px/normal 'times new roman', times, serif; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">$</td>
<td style="font: 13px/normal 'times new roman', times, serif; text-align: right; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">6,181</td>
</tr>
</table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfCashProceedsReceivedFromShareBasedPaymentAwardsTableTextBlock', window );">Schedule of information regarding share-based payment arrangements</a></td>
<td class="text"><table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0">
<tr>
<td width="59%" valign="bottom" style="padding: 0in; width: 360px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="padding: 0in; width: 50px;" colspan="3">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2013</p>
</div>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="padding: 0in; width: 48px;" colspan="3">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2014</p>
</div>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="7%" valign="bottom" style="padding: 0in; width: 46px;" colspan="3">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2015</p>
</div>
</td>
</tr>
<tr>
<td width="59%" valign="bottom" style="background: #cceeff; padding: 0in; width: 360px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Proceeds from stock options exercised</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="5%" valign="bottom" style="background: #cceeff; padding: 0in; width: 36px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom"
 style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="5%" valign="bottom" style="background: #cceeff; padding: 0in; width: 35px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="5%" valign="bottom" style="background: #cceeff; padding: 0in; width: 33px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="59%" valign="bottom" style="padding: 0in; width: 360px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Tax shortfall related to share-based payment<br />arrangements</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 8px;">
<p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="5%" valign="bottom" style="padding: 0in; width: 36px;">
<p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(3,567</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 6px;">
<p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular;
 font-size: 10pt;">$</p>
</td>
<td width="5%" valign="bottom" style="padding: 0in; width: 35px;">
<p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(2,039</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 6px;">
<p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 7px;">
<p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="5%" valign="bottom" style="padding: 0in; width: 33px;">
<p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(24</p>
</td>
<td width="1%" valign="bottom" style="padding: 0in; width: 6px;">
<p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
</tr>
<tr>
<td width="59%" valign="bottom" style="background: #cceeff; padding: 0in; width: 360px;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Intrinsic value of stock options exercised</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;">
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</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 8px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="5%" valign="bottom" style="background: #cceeff; padding: 0in; width: 36px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="5%" valign="bottom" style="background: #cceeff; padding: 0in; width: 35px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size:
 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="5%" valign="bottom" style="background: #cceeff; padding: 0in; width: 33px;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6px;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the amount of cash proceeds received from the exercise of stock options and similar instruments granted under share-based payment arrangements and the tax benefit realized from stock options exercised during the period.  Disclosure may also include the intrinsic value of stock options exercised during the period.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 14.F)<br> -URI http://asc.fasb.org/extlink&amp;oid=27013229&amp;loc=d3e301413-122809<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 14<br> -Section F<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the changes in outstanding nonvested restricted stock units.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the following for fully vested share options (or share units) and share options expected to vest at the date of the latest statement of financial position: the number, weighted-average exercise price (or conversion ratio), aggregate intrinsic value (except for nonpublic entities), and weighted-average remaining contractual term of options (or share units) currently exercisable (or convertible).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6764381168">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other Long-Term Liabilities (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="text"><p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"></p><table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"><tr><td width="72%" valign="bottom" style="background: white; padding: 0in; width: 434px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="8%" valign="bottom" style="background: white; padding: 0in; width: 50px;" colspan="2"><div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">2014</font></font></p></div></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="8%" valign="bottom" style="background: white; padding: 0in; width: 52px;" colspan="2"><div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">2015</font></font></p></div></td></tr><tr><td width="72%" valign="bottom" style="background: #cceeff; padding: 0in; width: 434px;"><p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; 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font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"><p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p></td><td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 43px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">21,280</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"><p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal;
 padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p></td><td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 45px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">15,229</p></td></tr><tr><td width="72%" valign="bottom" style="background: white; padding: 0in; width: 434px;"><p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Deferred revenue, net of current portion</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 7px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p></td><td width="7%" valign="bottom" style="background: white; padding: 0in; width: 43px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">9,654</p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 7px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p></td><td width="7%" valign="bottom" style="background: white; padding: 0in; width: 45px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">14,429</p></td></tr><tr><td width="72%" valign="bottom" style="background: #cceeff; padding: 0in; width: 434px;"><p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Deferred rent and other facility costs</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; 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text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p></td><td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 43px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">8,646</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p></td><td width="7%"
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padding: 0in; width: 14px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 7px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p></td><td width="7%" valign="bottom" style="background: white; padding: 0in; width: 43px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">5,198</p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; 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padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p></td><td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 43px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">1,056</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p></td><td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 45px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black;
 line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">3,125</p></td></tr><tr><td width="72%" valign="bottom" style="background: white; padding: 0in; width: 434px;"><p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">Deferred gain on sale of campus building</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p></td><td width="7%" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 43px; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">414</p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p></td><td width="7%" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 45px; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">133</p></td></tr><tr><td width="72%" valign="bottom" style="background: #cceeff; padding: 0in; width: 434px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"><p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p></td><td width="7%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 43px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"><p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">46,248</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family:
 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"><p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p></td><td width="7%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 45px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"><p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">47,987</p></td></tr></table><span></span>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6754399248">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other Employee Benefit Plans (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfShareBasedCompensationEmployeeStockPurchasePlanActivityTableTextBlock', window );">Schedule of shares purchased in the open market for employees</a></td>
<td class="text"><div><p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"></p><table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"><tr><td width="68%" valign="bottom" style="background: white; padding: 0in; width: 412px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="9%" valign="bottom" style="background: white; padding: 0in; width: 55px;"><div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font lang="en-gb">Shares<br />purchased</font></p></div></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="11%" valign="bottom" style="background: white; padding: 0in; width: 69px;" colspan="2"><div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font lang="en-gb">Average price<br />per share</font></p></div></td></tr><tr><td width="68%" valign="bottom" style="background: #cceeff; padding: 0in; width: 412px;"><p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">2013</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="9%" valign="bottom" style="background: #cceeff; 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color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"><p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p></td><td width="10%" valign="bottom" style="background: #cceeff; padding: 0in; width: 62px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size:
 10pt;">42.27</p></td></tr><tr><td width="68%" valign="bottom" style="background: white; padding: 0in; width: 412px;"><p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">2014</p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="9%" valign="bottom" style="background: white; padding: 0in; width: 55px;"><p align="center" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: center; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">5,872</p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; 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padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="9%" valign="bottom" style="background: #cceeff; padding: 0in; width: 55px;"><p align="center" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: center; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">5,136</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; 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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of employee stock purchase plan activity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (g)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6753682064">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock Repurchase Plan (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="text"><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: bottom; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></td><td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></td><td style="font: 10pt/normal 'times new roman', times, serif; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-stretch: normal;" colspan="2"><p style="font: 10pt/normal 'times new roman', times, serif; 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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock.</p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6755663984">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments and Contingencies (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock', window );">Schedule of minimum rental commitments</a></td>
<td class="text"><div>&#160;</div><table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"><tr><td width="82%" valign="bottom" style="background: white; padding: 0in; width: 496px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: white; padding: 0in; width: 15px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="11%" valign="bottom" style="background: white; padding: 0in; width: 69px;" colspan="2"><div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font lang="en-gb">Minimum<br />rental<br />commitments</font></p></div></td></tr><tr><td width="82%" valign="bottom" style="background: #cceeff; padding: 0in; width: 496px;"><p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">2016</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 15px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"><p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p></td><td width="10%" valign="bottom" style="background: #cceeff; padding: 0in; width: 62px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">37,240</p></td></tr><tr><td width="82%" valign="bottom" style="background: white; padding: 0in; width: 496px;"><p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; 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font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 7px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p></td><td width="10%" valign="bottom" style="background: white; padding: 0in; width: 62px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">33,264</p></td></tr><tr><td width="82%" valign="bottom" style="background: #cceeff; padding: 0in; width: 496px;"><p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">2018</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 15px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal;
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padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: white; padding: 0in; width: 15px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 7px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p></td><td width="10%" valign="bottom" style="background: white; padding: 0in; width: 62px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">23,444</p></td></tr><tr><td width="82%" valign="bottom" style="background: #cceeff; padding: 0in; width: 496px;"><p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">2020</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 15px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p></td><td width="10%" valign="bottom" style="background: #cceeff; padding: 0in; width: 62px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; 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font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 7px; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p></td><td width="10%" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 62px; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tbodyrule1" style="margin: 0in 0in 0pt; 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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41502-112717<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6730199952">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Taxes (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureAbstract', window );"><strong>Income Taxes [Abstract]</strong></a></td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock', window );">Schedule of income tax provision</a></td>
<td class="text"><div><p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"></p><table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"><tr><td width="58%" valign="bottom" style="background: white; padding: 0in; width: 349.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; 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padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">2013</font></font></p></div></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: white; padding: 0in; width: 13.63px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; 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padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><font lang="en-gb">2015</font></font></p></div></td></tr><tr><td width="58%" valign="bottom" style="background: #cceeff; padding: 0in; width: 349.09px;"><p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Current:</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14.54px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 7.27px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size:
 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; width: 40px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6.36px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13.63px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6.36px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; width: 43.63px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13.63px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6.36px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; width: 36.36px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6.36px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td></tr><tr><td width="58%" valign="bottom" style="background: white; padding: 0in; width: 349.09px;"><p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Federal</p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14.54px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 7.27px;"><p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p></td><td width="6%" valign="bottom" style="background: white; padding: 0in; width: 40px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">26,390</p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 6.36px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: white; padding: 0in; width: 13.63px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black;
 line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 6.36px;"><p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p></td><td width="7%" valign="bottom" style="background: white; padding: 0in; width: 43.63px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">25,285</p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: white; padding: 0in; width: 13.63px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 6.36px;"><p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p></td><td width="6%" valign="bottom" style="background: white; padding: 0in; width: 36.36px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">25,515</p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 6.36px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td></tr><tr><td width="58%" valign="bottom" style="background: #cceeff; padding: 0in; width: 349.09px;"><p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">State</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14.54px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 7.27px; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p></td><td width="6%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 40px; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">4,582</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6.36px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13.63px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6.36px; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p></td><td width="7%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 43.63px; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tbodyrule1" style="margin: 0in
 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">4,490</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13.63px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6.36px; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p></td><td width="6%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 36.36px; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">4,538</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6.36px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td></tr><tr><td width="58%" valign="bottom" style="background: white; padding: 0in; width: 349.09px;"><p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Total current</p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14.54px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 7.27px; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p></td><td width="6%" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 40px; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">30,972</p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 6.36px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: white; padding: 0in; width: 13.63px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6.36px; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p></td><td width="7%" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 43.63px; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">29,775</p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: white; padding: 0in; width: 13.63px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt;
 color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6.36px; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p></td><td width="6%" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 36.36px; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">30,053</p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 6.36px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td></tr><tr><td width="58%" valign="bottom" style="background: #cceeff; padding: 0in; width: 349.09px;"><p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Deferred:</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14.54px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 7.27px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 40px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6.36px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13.63px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 6.36px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="7%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 43.63px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13.63px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 6.36px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family:
 timesnewromanpsstd-bold;">&#160;</font></p></td><td width="6%" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 36.36px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6.36px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td></tr><tr><td width="58%" valign="bottom" style="background: white; padding: 0in; width: 349.09px;"><p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Federal</p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14.54px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 7.27px;"><p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p></td><td width="6%" valign="bottom" style="background: white; padding: 0in; width: 40px;"><p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(18,387</p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 6.36px;"><p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: white; padding: 0in; width: 13.63px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 6.36px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p></td><td width="7%" valign="bottom" style="background: white; padding: 0in; width: 43.63px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">141</p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: white; padding: 0in; width: 13.63px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 6.36px;"><p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p></td><td width="6%" valign="bottom" style="background: white; padding: 0in; width: 36.36px;"><p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(3,634</p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 6.36px;"><p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; 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 class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 7.27px; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p></td><td width="6%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 40px; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(1,726</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6.36px;"><p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13.63px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6.36px; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p></td><td width="7%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 43.63px; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">344</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13.63px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6.36px; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p></td><td width="6%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 36.36px; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(311</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6.36px;"><p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p></td></tr><tr><td width="58%" valign="bottom" style="background: white; padding: 0in; width: 349.09px;"><p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Total deferred</p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14.54px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background:
 white; border-style: none none solid; padding: 0in; width: 7.27px; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p></td><td width="6%" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 40px; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(20,113</p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 6.36px;"><p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: white; padding: 0in; width: 13.63px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6.36px; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p></td><td width="7%" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 43.63px; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">485</p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: white; padding: 0in; width: 13.63px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6.36px; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p></td><td width="6%" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 36.36px; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(3,945</p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 6.36px;"><p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p></td></tr><tr><td width="58%" valign="bottom" style="background: #cceeff; padding: 0in; width: 349.09px;"><p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Total provision for income taxes</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14.54px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 7.27px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"><p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p></td><td width="6%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 40px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"><p class="tbodyrule2" style="margin: 0in 0in 0pt;
 padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">10,859</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 6.36px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13.63px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 6.36px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"><p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p></td><td width="7%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 43.63px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"><p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">30,260</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13.63px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 6.36px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"><p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p></td><td width="6%" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 36.36px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"><p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">26,108</p></td></tr></table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock', window );">Schedule of tax effects of principal temporary differences that give rise to deferred tax assets</a></td>
<td class="text"><table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0">
<tr>
<td width="464" valign="bottom" style="background: white; padding: 0in; width: 348pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="3">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2014</p>
</div>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="3">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2015</p>
</div>
</td>
</tr>
<tr>
<td width="464" valign="bottom" style="background: #cceeff; padding: 0in; width: 348pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Tuition receivable</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="48" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.5in;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">3,439</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size:
 10pt;">$</p>
</td>
<td width="48" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.5in;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">3,908</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="464" valign="bottom" style="background: white; padding: 0in; width: 348pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Other facility-related costs</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">2,824</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">2,538</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="464" valign="bottom" style="background: #cceeff; padding: 0in; width: 348pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Employee-related liabilities</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(96</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border:
 currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="464" valign="bottom" style="background: white; padding: 0in; width: 348pt;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Current net deferred tax asset</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">6,167</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">6,446</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="464" valign="bottom" style="background: #cceeff; padding: 0in; width: 348pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height:
 normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Stock-based compensation</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 0.5in;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">12,994</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: #cceeff; padding: 0in; border: currentcolor; border-image: none; width: 0.5in;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">16,742</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="464" valign="bottom" style="background: white; padding: 0in; width: 348pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Property and equipment</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;">
<p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(11,622</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in
 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;">
<p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(9,417</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
</tr>
<tr>
<td width="464" valign="bottom" style="background: #cceeff; padding: 0in; width: 348pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Other facility-related costs</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.5in;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">8,903</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.5in;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">6,534</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="464" valign="bottom" style="background: white; padding: 0in; width: 348pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Deferred revenue</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size:
 10pt;">3,758</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">4,267</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="464" valign="bottom" style="background: #cceeff; padding: 0in; width: 348pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Deferred leasing costs</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.5in;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">2,797</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: #cceeff; padding: 0in; width: 0.5in;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">2,825</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="464" valign="bottom" style="background: white; padding: 0in; width: 348pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Interest rate swap</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width:
 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;">
<p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(56</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: white; padding: 0in; width: 0.5in;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#8212;</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="464" valign="bottom" style="background: #cceeff; padding: 0in; width: 348pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Other</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(533</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none;
 text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">(948</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrule1brack" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">)</p>
</td>
</tr>
<tr>
<td width="464" valign="bottom" style="background: white; padding: 0in; width: 348pt;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Long-term net deferred tax asset</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">16,241</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="48" valign="bottom" style="background: white; border-style: none none solid; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">20,003</p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="464" valign="bottom" style="background: #cceeff; padding: 0in; width: 348pt;">
<p class="tbodyind2" style="margin: 0in 0in 0pt 30pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Net deferred tax asset</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor;
 border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="48" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">22,408</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 6pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p align="left" class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="48" valign="bottom" style="background: #cceeff; border-style: none none double; padding: 0in; width: 0.5in; border-bottom-color: windowtext; border-bottom-width: 2.25pt;">
<p class="tbodyrule2" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">26,449</p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
</table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SummaryOfIncomeTaxContingenciesTextBlock', window );">Summary of changes in unrecognized tax benefits</a></td>
<td class="text"><table style="width: 600px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0">
<tr style="vertical-align: bottom;">
<td style="padding-bottom: 1pt; font-size: 12pt;">&#160;</td>
<td style="font: bold 8pt/normal timesnewromanpsstd-bold; color: black; padding-bottom: 1pt; font-stretch: normal;">&#160;</td>
<td style="font: bold 8pt/normal timesnewromanpsstd-bold; text-align: center; color: black; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-stretch: normal;" colspan="6">Year Ended December 31,</td>
<td style="font: bold 8pt/normal timesnewromanpsstd-bold; color: black; padding-bottom: 1pt; font-stretch: normal;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="padding-bottom: 1pt; font-size: 12pt;">&#160;</td>
<td style="font: bold 8pt/normal timesnewromanpsstd-bold; color: black; padding-bottom: 1pt; font-stretch: normal;">&#160;</td>
<td style="font: bold 8pt/normal timesnewromanpsstd-bold; text-align: center; color: black; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-stretch: normal;" colspan="2">2014</td>
<td style="font: bold 8pt/normal timesnewromanpsstd-bold; color: black; padding-bottom: 1pt; font-stretch: normal;">&#160;</td>
<td style="font: bold 8pt/normal timesnewromanpsstd-bold; color: black; padding-bottom: 1pt; font-stretch: normal;">&#160;</td>
<td style="font: bold 8pt/normal timesnewromanpsstd-bold; text-align: center; color: black; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-stretch: normal;" colspan="2">2015</td>
<td style="font: bold 8pt/normal timesnewromanpsstd-bold; color: black; padding-bottom: 1pt; font-stretch: normal;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font: 10pt/normal timesnewromanpsstd-regular; width: 442px; text-align: left; color: black; padding-left: 0in; font-stretch: normal;">Beginning unrecognized tax benefits</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; width: 6px; color: black; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; width: 7px; text-align: left; color: black; font-stretch: normal;">$</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; width: 60px; text-align: right; color: black; font-stretch: normal;">1,745</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; width: 6px; text-align: left; color: black; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; width: 6px; color: black; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; width: 7px; text-align: left; color: black; font-stretch: normal;">$</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; width: 60px; text-align: right; color: black; font-stretch: normal;">2,936</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; width: 6px; text-align: left; color: black; font-stretch: normal;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; padding-left: 0in; font-stretch: normal;">Additions based on tax positions taken in the current year</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; color: black; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: right; color: black; font-stretch: normal;">2,085</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; color: black; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: right; color: black; font-stretch: normal;">&#8212;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; font-stretch: normal;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; padding-left: 0in; font-stretch: normal;">Reductions for tax positions taken in prior years</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; color: black; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: right; color: black; font-stretch: normal;">(565</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; font-stretch: normal;">)</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; color: black; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: right; color: black; font-stretch: normal;">(2,431</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; font-stretch: normal;">)</td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; padding-bottom: 1pt; padding-left: 0in; font-stretch: normal;">Settlements with taxing authorities</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; color: black; padding-bottom: 1pt; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: right; color: black; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-stretch: normal;">(329</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; padding-bottom: 1pt; font-stretch: normal;">)</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; color: black; padding-bottom: 1pt; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: right; color: black;
 border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-stretch: normal;">&#8212;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; padding-bottom: 1pt; font-stretch: normal;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; padding-bottom: 2.5pt; padding-left: 0in; font-stretch: normal;">Ending unrecognized tax benefits</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; color: black; padding-bottom: 2.5pt; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-stretch: normal;">$</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: right; color: black; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-stretch: normal;">2,936</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; padding-bottom: 2.5pt; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; color: black; padding-bottom: 2.5pt; font-stretch: normal;">&#160;</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-stretch: normal;">$</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: right; color: black; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-stretch: normal;">505</td>
<td style="font: 10pt/normal timesnewromanpsstd-regular; text-align: left; color: black; padding-bottom: 2.5pt; font-stretch: normal;">&#160;</td>
</tr>
</table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock', window );">Schedule of reconciliation between statutory tax rate and effective tax rate</a></td>
<td class="text"><div><p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 10pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"></p><table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0"><tr><td width="62%" valign="bottom" style="background: white; padding: 0in; width: 377.27px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14.54px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="6%" valign="bottom" style="background: white; padding: 0in; width: 42.72px;" colspan="2"><div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2013</p></div></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: white; padding: 0in; width: 13.63px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="6%" valign="bottom" style="background: white; padding: 0in; width: 40.9px;" colspan="2"><div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2014</p></div></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: white; padding: 0in; width: 13.63px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="6%" valign="bottom" style="background: white; padding: 0in; width: 40.9px;" colspan="2"><div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">2015</p></div></td></tr><tr><td width="62%" valign="bottom" style="background: #cceeff; padding: 0in; width: 377.27px;"><p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Statutory federal rate</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14.54px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="5%" valign="bottom" style="background: #cceeff; padding: 0in; width: 30.9px;"><p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">35.0</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 11.81px;"><p align="left" class="tbodybracket" style="margin: 0in 0in 0pt;
 text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">%</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13.63px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="5%" valign="bottom" style="background: #cceeff; padding: 0in; width: 30px;"><p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">35.0</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10.9px;"><p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">%</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13.63px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="5%" valign="bottom" style="background: #cceeff; padding: 0in; width: 30px;"><p class="tbodybracket" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">35.0</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10.9px;"><p align="left" class="tbodybracket" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">%</p></td></tr><tr><td width="62%" valign="bottom" style="background: white; padding: 0in; width: 377.27px;"><p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;"><font lang="en-gb">State income taxes, net of federal benefits</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14.54px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="5%" valign="bottom" style="background: white; padding: 0in; width: 30.9px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">4.6</p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 11.81px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: white; padding: 0in; width: 13.63px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="5%" valign="bottom" style="background: white; padding: 0in; width: 30px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">4.2</p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10.9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif;
 font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: white; padding: 0in; width: 13.63px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="5%" valign="bottom" style="background: white; padding: 0in; width: 30px;"><p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">4.2</p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10.9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td></tr><tr><td width="62%" valign="bottom" style="background: #cceeff; padding: 0in; width: 377.27px;"><p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Other</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 14.54px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="5%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 30.9px; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">0.2</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 11.81px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13.63px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="5%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 30px; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">0.3</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10.9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: #cceeff; padding: 0in; width: 13.63px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="5%" valign="bottom" style="background: #cceeff; border-style: none none solid; padding: 0in; width: 30px; border-bottom-color: windowtext; border-bottom-width: 1pt;"><p class="tbodyrule1" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; text-align: right; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">0.3</p></td><td width="1%" valign="bottom" style="background: #cceeff; padding: 0in; width: 10.9px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td></tr><tr><td width="62%" valign="bottom" style="background: white; padding: 0in; width: 377.27px;"><p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent:
 -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Effective tax rate</p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: white; padding: 0in; width: 14.54px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 10px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; 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font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="2%" valign="bottom" style="background: white; padding: 0in; width: 13.63px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="1%" valign="bottom" style="background: white; padding: 0in; width: 9.09px;"><p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: 'minion pro', serif; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p></td><td width="5%" valign="bottom" style="background: white; border-style: none none double; padding: 0in; width: 30px; border-bottom-color: windowtext; border-bottom-width: 2.25pt;"><p class="tbodyrule2brack" style="margin: 0in; padding: 0in; border: currentcolor; 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border: currentcolor; border-image: none; text-align: left; color: black; line-height: normal; font-family: timesnewromanpsstd-regular; font-size: 10pt;">%</p></td></tr></table></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32718-109319<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6750579520">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Summarized Quarterly Financial Data (Unaudited) (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
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<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<tr>
<td width="304" valign="bottom" style="background: #cceeff; padding: 0in; width: 228pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Revenues</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">116,468</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">112,747</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">100,756</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding:
 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">116,070</p>
</td>
</tr>
<tr>
<td width="304" valign="bottom" style="background: white; padding: 0in; width: 228pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Income from operations</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">25,909</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">23,998</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">9,216</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family:
 timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">22,624</p>
</td>
</tr>
<tr>
<td width="304" valign="bottom" style="background: #cceeff; padding: 0in; width: 228pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Net income</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">14,783</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">13,677</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">4,953</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">12,943</p>
</td>
</tr>
<tr>
<td width="304" valign="bottom" style="background: white; padding: 0in; width: 228pt;">
<p
 class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Net income per share:</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
</tr>
<tr>
<td width="304" valign="bottom" style="background: #cceeff; padding: 0in; width: 228pt;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Basic</p>
</td>
<td width="11" valign="bottom" style="background:
 #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">1.40</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">1.29</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">0.47</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">1.22</p>
</td>
</tr>
<tr>
<td width="304" valign="bottom" style="background: white; padding: 0in; width: 228pt;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Diluted</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal;
 font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">1.40</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">1.29</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">0.46</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">1.21</p>
</td>
</tr>
</table>
<p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 10pt 0in; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"><font style="font-size: 4pt;">&#160;</font></p>
<table class="msonormaltable" style="margin: 0px auto; border: 0px solid #000000; border-image: none; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman'; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" border="0" cellspacing="0" cellpadding="0">
<tr>
<td width="304" valign="bottom" style="background: white; padding: 0in; width: 228pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family:
 timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="368" valign="bottom" style="background: white; padding: 0in; width: 276pt;" colspan="17">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">Quarter</p>
</div>
</td>
</tr>
<tr>
<td width="304" valign="bottom" style="background: white; padding: 0in; width: 228pt;">
<p class="tchleft" style="margin: 0in 0in 0pt; padding: 0in; border: currentcolor; border-image: none; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;"><font class="bold" style="font-weight: bold;"><u><font lang="en-gb">2015</font></u></font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="2">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">First</p>
</div>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="2">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">Second</p>
</div>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="2">
<div style="border-style: none none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">Third</p>
</div>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="64" valign="bottom" style="background: white; padding: 0in; width: 48pt;" colspan="2">
<div style="border-style: none
 none solid; padding: 0in; border-bottom-color: windowtext; border-bottom-width: 1pt;">
<p class="tch" style="margin: 0in 0in 0pt; padding: 0in 0in 0pt; border: currentcolor; border-image: none; text-align: center; color: black; line-height: normal; font-family: timesnewromanpsstd-bold; font-size: 8pt; font-weight: bold;">Fourth</p>
</div>
</td>
</tr>
<tr>
<td width="304" valign="bottom" style="background: #cceeff; padding: 0in; width: 228pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Revenues</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">111,885</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">109,750</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">99,142</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">113,660</p>
</td>
</tr>
<tr>
<td width="304" valign="bottom" style="background: white; padding: 0in; width:
 228pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Income from operations</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">19,859</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">20,929</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">7,254</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">21,656</p>
</td>
</tr>
<tr>
<td width="304" valign="bottom" style="background: #cceeff; padding: 0in; width: 228pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Net income</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family:
 timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">11,385</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">11,874</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">3,723</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">&#160;</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">13,041</p>
</td>
</tr>
<tr>
<td width="304" valign="bottom" style="background: white; padding: 0in; width: 228pt;">
<p class="tbody" style="margin: 0in 0in 0pt 10pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Net income per share:</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p
 class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
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<tr>
<td width="304" valign="bottom" style="background: #cceeff; padding: 0in; width: 228pt;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Basic</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom"
 style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">1.08</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">1.12</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">0.35</p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: #cceeff; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: #cceeff; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: #cceeff; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: #cceeff; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">1.23</p>
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<td width="304" valign="bottom" style="background: white; padding: 0in; width: 228pt;">
<p class="tbodyind1" style="margin: 0in 0in 0pt 20pt; color: black; line-height: normal; text-indent: -10pt; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">Diluted</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height:
 normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">1.06</p>
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<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">1.11</p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">0.35</p>
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<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="16" valign="bottom" style="background: white; padding: 0in; width: 12pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="11" valign="bottom" style="background: white; padding: 0in; width: 8pt;">
<p class="noparagraphstyle" style="margin: 0in 0in 0pt; color: black; line-height: normal; font-family: minionpro-regular; font-size: 12pt;"><font style="color: windowtext; font-family: timesnewromanpsstd-bold;">&#160;</font></p>
</td>
<td width="8" valign="bottom" style="background: white; padding: 0in; width: 6pt;">
<p align="left" class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: left; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">$</p>
</td>
<td width="56" valign="bottom" style="background: white; padding: 0in; width: 42pt;">
<p class="tbodyrightalign" style="margin: 0in 0in 0pt; text-align: right; color: black; line-height: normal; padding-bottom: 3px; font-family: timesnewromanpsstd-regular; font-size: 10pt;">1.21</p>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the quarterly financial data in the annual financial statements. The disclosure includes financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 270<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)-(j)<br> -URI http://asc.fasb.org/extlink&amp;oid=51825399&amp;loc=d3e1280-108306<br></p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Nature of Operations (Details)<br></strong></div></th>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of segments reported by the entity. A reportable segment is a component of an entity for which there is an accounting requirement to report separate financial information on that component in the entity's financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NumberOfReportableSegments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<DOCUMENT>
<TYPE>XML
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<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6761478592">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_GraduationFundLiabilityAbstract', window );"><strong>Schedule of activity in the Graduation Fund</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_GraduationFundLiability', window );">Balance at beginning of year</a></td>
<td class="nump">$ 9,706<span></span>
</td>
<td class="nump">$ 1,898<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_RevenueDeferred', window );">Revenue deferred</a></td>
<td class="nump">17,882<span></span>
</td>
<td class="nump">8,507<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_BenefitRedeemed', window );">Benefit redeemed</a></td>
<td class="num">(6,651)<span></span>
</td>
<td class="num">(699)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_GraduationFundLiability', window );">Balance at end of year</a></td>
<td class="nump">$ 20,937<span></span>
</td>
<td class="nump">$ 9,706<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_BenefitRedeemed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Current year redemptions of graduation fund credits by students.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_BenefitRedeemed</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_GraduationFundLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount (including both current and noncurrent portions of the accrual) as of the balance sheet date pertaining to graduation fund liability.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_GraduationFundLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_GraduationFundLiabilityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Graduation Fund Liability [Abstract]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_GraduationFundLiabilityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_RevenueDeferred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Additional graduation fund liability generated in the current year for services to be performed in the future.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_RevenueDeferred</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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</div>
</body>
</html>
</TEXT>
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<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6762042400">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Significant Accounting Policies (Details 1) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
<th class="th"><div>Dec. 31, 2012</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNetCurrentAbstract', window );"><strong>Schedule of tuition receivable and allowance for doubtful accounts</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableGrossCurrent', window );">Tuition receivable</a></td>
<td class="nump">$ 28,543<span></span>
</td>
<td class="nump">$ 25,777<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent', window );">Allowance for doubtful accounts</a></td>
<td class="num">(10,024)<span></span>
</td>
<td class="num">(8,835)<span></span>
</td>
<td class="num">$ (10,303)<span></span>
</td>
<td class="num">$ (6,596)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNetCurrent', window );">Tuition receivable, net</a></td>
<td class="nump">$ 18,519<span></span>
</td>
<td class="nump">$ 16,942<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsReceivableGrossCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amounts due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer) for goods or services (including trade receivables) that have been delivered or sold in the normal course of business.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 3<br> -Subparagraph a, b<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsReceivableGrossCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsReceivableNetCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.3-4)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 3<br> -Subparagraph a(1)<br> -Article 5<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 4<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsReceivableNetCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsReceivableNetCurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsReceivableNetCurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=49124121&amp;loc=d3e5074-111524<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>53
<FILENAME>R39.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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							e.nextSibling.style.display='block';
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							}</script>
</head>
<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6828392320">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies (Details 2) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward', window );"><strong>Schedule of allowance for doubtful accounts</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent', window );">Beginning allowance for doubtful accounts</a></td>
<td class="nump">$ 8,835<span></span>
</td>
<td class="nump">$ 10,303<span></span>
</td>
<td class="nump">$ 6,596<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProvisionForDoubtfulAccounts', window );">Additions charged to expense</a></td>
<td class="nump">13,067<span></span>
</td>
<td class="nump">16,947<span></span>
</td>
<td class="nump">22,225<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForDoubtfulAccountsReceivableWriteOffs', window );">Write-offs, net of recoveries</a></td>
<td class="num">(11,878)<span></span>
</td>
<td class="num">(18,415)<span></span>
</td>
<td class="num">(18,518)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent', window );">Ending allowance for doubtful accounts</a></td>
<td class="nump">$ 10,024<span></span>
</td>
<td class="nump">$ 8,835<span></span>
</td>
<td class="nump">$ 10,303<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=49124121&amp;loc=d3e5074-111524<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllowanceForDoubtfulAccountsReceivableWriteOffs">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of direct write-downs of accounts receivable charged against the allowance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 954<br> -SubTopic 310<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=51673446&amp;loc=SL9156395-115594<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=49124121&amp;loc=d3e5074-111524<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AllowanceForDoubtfulAccountsReceivableWriteOffs</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProvisionForDoubtfulAccounts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of expense related to write-down of receivables to the amount expected to be collected. Includes, but is not limited to, accounts receivable and notes receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.5)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProvisionForDoubtfulAccounts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6831727840">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies (Details 3) - shares<br> shares in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract', window );"><strong>Schedule of reconciliation of shares used to calculate basic and diluted earnings per share</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic', window );">Weighted average shares outstanding used to compute basic earnings per share</a></td>
<td class="nump">10,588<span></span>
</td>
<td class="nump">10,561<span></span>
</td>
<td class="nump">10,584<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements', window );">Incremental shares issuable upon the assumed exercise of stock options</a></td>
<td class="nump">6<span></span>
</td>
<td class="nump">6<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends', window );">Unvested restricted stock and restricted stock units</a></td>
<td class="nump">146<span></span>
</td>
<td class="nump">83<span></span>
</td>
<td class="nump">40<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding', window );">Shares used to compute diluted earnings per share</a></td>
<td class="nump">10,740<span></span>
</td>
<td class="nump">10,650<span></span>
</td>
<td class="nump">10,624<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Nonvested equity-based payment awards that contain forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) that result in incremental common shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 68B<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=SL5498026-109256<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28A<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1500-109256<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of share based payment arrangements using the treasury stock method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28A<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1500-109256<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 16<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1505-109256<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1448-109256<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Weighted-Average Number of Common Shares Outstanding<br> -URI http://asc.fasb.org/extlink&amp;oid=6528421<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesOutstandingBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6828246256">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies (Details Textual) - USD ($)<br> $ / shares in Units, $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_SignificantAccountingPoliciesTextualAbstract', window );"><strong>Significant Accounting Policies (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_PercentageOfTuitionRevenueInRevenue', window );">Percentage of tuition revenue in total revenue</a></td>
<td class="nump">96.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_UnusedBooksAndAcademicMaterialRefundablePeriod', window );">Unused books and academic material refundable period</a></td>
<td class="text">21 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue', window );">Restricted cash</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNetNoncurrent', window );">Tuition receivable included in other assets</a></td>
<td class="nump">$ 2,000<span></span>
</td>
<td class="nump">1,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_ExpectedCollectionPeriodOfTuitionReceivable', window );">Expected collection period of tuition receivable</a></td>
<td class="text">After 12 months<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalentsNoncurrent', window );">Minimum protective endowment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesAuthorized', window );">Common stock, shares authorized</a></td>
<td class="nump">20,000,000<span></span>
</td>
<td class="nump">20,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockParOrStatedValuePerShare', window );">Common stock, par value</a></td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Common stock, shares issued</a></td>
<td class="nump">11,027,177<span></span>
</td>
<td class="nump">10,903,341<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Common stock, shares outstanding</a></td>
<td class="nump">11,027,177<span></span>
</td>
<td class="nump">10,903,341<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesAuthorized', window );">Preferred stock, shares authorized</a></td>
<td class="nump">8,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesIssued', window );">Preferred stock, shares issued</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesOutstanding', window );">Preferred stock, shares outstanding</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExaminationDescription', window );">Income tax description</a></td>
<td class="text">Upon determination, uncertain tax positions are measured to determine the amount of benefit that is greater than 50% likely to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. A tax position is derecognized if it no longer meets the more likely than not threshold of being sustained.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_EstimatedGraduationFundToBeRedeemedNextTwelveMonths', window );">Graduation fund estimated to be redeemed</a></td>
<td class="nump">$ 10,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GoodwillAndIntangibleAssetImpairment', window );">Goodwill and intangible assets impairment</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortization', window );">Depreciation and amortization</a></td>
<td class="nump">$ 18,104<span></span>
</td>
<td class="nump">$ 20,630<span></span>
</td>
<td class="nump">$ 35,563<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill', window );">Impairment loss</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MaximumMember', window );">Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_SignificantAccountingPoliciesTextualAbstract', window );"><strong>Significant Accounting Policies (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Estimated useful life of property and equipment</a></td>
<td class="text">40 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MinimumMember', window );">Minimum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_SignificantAccountingPoliciesTextualAbstract', window );"><strong>Significant Accounting Policies (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Estimated useful life of property and equipment</a></td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_EstimatedGraduationFundToBeRedeemedNextTwelveMonths">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The estimated amount of graduation fund to be redeemed in the next twelve months.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_EstimatedGraduationFundToBeRedeemedNextTwelveMonths</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_ExpectedCollectionPeriodOfTuitionReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expected collection period of tuition receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_ExpectedCollectionPeriodOfTuitionReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_PercentageOfTuitionRevenueInRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of tuition revenue in total revenue.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_PercentageOfTuitionRevenueInRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_SignificantAccountingPoliciesTextualAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Significant accounting policies.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_SignificantAccountingPoliciesTextualAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_UnusedBooksAndAcademicMaterialRefundablePeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The period to return unused books and related academic materials in order to receive a full refund.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_UnusedBooksAndAcademicMaterialRefundablePeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsReceivableNetNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount due from customers or clients, more than one year from the balance sheet date, for goods or services that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 3<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsReceivableNetNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of common stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of common shares permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationAndAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepreciationAndAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GoodwillAndIntangibleAssetImpairment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total loss recognized during the period from the impairment of goodwill plus the loss recognized in the period resulting from the impairment of the carrying amount of intangible assets, other than goodwill.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GoodwillAndIntangibleAssetImpairment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of impairment loss resulting from write-down of assets, excluding financial assets and goodwill, lacking physical substance and having a projected indefinite period of benefit to fair value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16373-109275<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExaminationDescription">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A brief description of status of the tax examination, significant findings to date, and the entity's position with respect to the findings.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -Subparagraph (d)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32718-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExaminationDescription</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentUsefulLife">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentUsefulLife</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. For a classified balance sheet represents the current portion only (the noncurrent portion has a separate concept); there is a separate and distinct element for unclassified presentations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestrictedCashAndCashEquivalentsNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cash and equivalents whose use in whole or in part is restricted for the long-term, generally by contractual agreements or regulatory requirements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestrictedCashAndCashEquivalentsNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RangeAxis=us-gaap_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MaximumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RangeAxis=us-gaap_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MinimumMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6762419072">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Restructuring and Related Charges (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="5">12 Months Ended</th>
</tr>
<tr>
<th class="th" colspan="2"><div>Dec. 31, 2015</div></th>
<th class="th" colspan="2"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestructuringReserveRollForward', window );"><strong>Schedule of restructuring liability</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestructuringReserve', window );">Beginning balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 27,283<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 44,766<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestructuringCharges', window );">Restructuring and other charges</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 54,690<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsForRestructuring', window );">Payments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(7,754)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(14,556)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(6,223)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_RestructruingReserveAccrualAdjustmentsSettledIncurred', window );">Adjustments</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">526<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(2,927)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(3,701)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestructuringReserve', window );">Ending balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">20,055<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">27,283<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 44,766<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestructuringCostAndReserveAxis=stra_LeaseAndRelatedCostsMember', window );">Lease and Related Costs, Net [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestructuringReserveRollForward', window );"><strong>Schedule of restructuring liability</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestructuringReserve', window );">Beginning balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">27,283<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">42,550<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestructuringCharges', window );">Restructuring and other charges</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 47,792<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsForRestructuring', window );">Payments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(7,754)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(12,418)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(103)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_RestructruingReserveAccrualAdjustmentsSettledIncurred', window );">Adjustments</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">526<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(2,849)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(5,139)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestructuringReserve', window );">Ending balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 20,055<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">27,283<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 42,550<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestructuringCostAndReserveAxis=stra_SeveranceAndOtheRemployeeSeparationCostsMember', window );">Severance and Other Employee Separation Costs [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestructuringReserveRollForward', window );"><strong>Schedule of restructuring liability</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestructuringReserve', window );">Beginning balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">2,216<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestructuringCharges', window );">Restructuring and other charges</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 6,898<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsForRestructuring', window );">Payments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(2,138)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(6,120)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_RestructruingReserveAccrualAdjustmentsSettledIncurred', window );">Adjustments</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">$ (78)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">1,438<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestructuringReserve', window );">Ending balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 2,216<span></span>
</td>
</tr>
<tr><td colspan="7"></td></tr>
<tr><td colspan="7"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">The current portion of restructuring liabilities was $6.0 million and $4.8 million as of December 31, 2014 and December 31, 2015, respectively, which are included in accounts payable and accrued expenses. The long-term portion is included in other long-term liabilities.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">Adjustments for lease and related costs include accretion of interest on lease costs, partially offset by changes in the timing and expected income from sublease agreements signed during the period. Adjustments for severance and other employee separation costs include amounts related to employees who were re-hired to other roles within the Company and were not paid severance.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_RestructruingReserveAccrualAdjustmentsSettledIncurred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount and any adjustment to the restructuring reserve (settled) incurred during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_RestructruingReserveAccrualAdjustmentsSettledIncurred</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsForRestructuring">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash payments made as the result of exit or disposal activities. Excludes payments associated with a discontinued operation or an asset retirement obligation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsForRestructuring</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestructuringCharges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 420<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6394359&amp;loc=d3e17939-110869<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 420<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 5.P.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=27011515&amp;loc=d3e140864-122747<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 420<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB TOPIC 5.P.4(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=27011515&amp;loc=d3e140904-122747<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 5<br> -Section P<br> -Subsection 3, 4<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestructuringCharges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestructuringReserve">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount (including both current and noncurrent portions of the accrual) as of the balance sheet date pertaining to a specified type of cost associated with exit from or disposal of business activities or restructuring pursuant to a duly authorized plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 420<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB TOPIC 5.P.4(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=27011515&amp;loc=d3e140904-122747<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 5<br> -Section P<br> -Subsection 3, 4<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestructuringReserve</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestructuringReserveRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestructuringReserveRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestructuringCostAndReserveAxis=stra_LeaseAndRelatedCostsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestructuringCostAndReserveAxis=stra_LeaseAndRelatedCostsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestructuringCostAndReserveAxis=stra_SeveranceAndOtheRemployeeSeparationCostsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestructuringCostAndReserveAxis=stra_SeveranceAndOtheRemployeeSeparationCostsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6828975424">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Restructuring and Related Charges (Details Textual)<br> $ in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($) </div>
<div>Campus</div>
</th>
<th class="th">
<div>Dec. 31, 2013 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestructuringCostAndReserveLineItems', window );"><strong>Restructuring Cost and Reserve [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestructuringReserveCurrent', window );">Restructuring liabilities</a></td>
<td class="nump">$ 4.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_CampusLocationClosed', window );">Campus location closed | Campus</a></td>
<td class="nump">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_LeaseTermExpire', window );">Lease term expire</a></td>
<td class="text">2022<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_MarginalBorrowingRateOfLease', window );">Lease marginal borrowing rate</a></td>
<td class="nump">4.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_SeveranceAndOtherEmployeeSeparationCosts', window );">Severance and other employee separation costs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6.9<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestructuringCostAndReserveAxis=stra_LeaseAndRelatedCostsMember', window );">Lease and Related Costs, Net [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestructuringCostAndReserveLineItems', window );"><strong>Restructuring Cost and Reserve [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractualObligation', window );">Contractual obligation</a></td>
<td class="nump">$ 36.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_CampusLocationClosed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Campus location closed.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_CampusLocationClosed</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_LeaseTermExpire">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The last year for which all current leases will expire.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_LeaseTermExpire</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:gYearItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_MarginalBorrowingRateOfLease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Marginal borrowing rate of lease.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_MarginalBorrowingRateOfLease</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_SeveranceAndOtherEmployeeSeparationCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of expenses for special or contractual termination benefits provided to current employees involuntarily terminated under a benefit arrangement associated exit or disposal activities pursuant to an authorized plan. Excludes expenses related to one-time termination benefits, a discontinued operation or an asset retirement obligation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_SeveranceAndOtherEmployeeSeparationCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ContractualObligation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of contractual obligation, including but not limited to, long-term debt, capital lease obligations, operating lease obligations, purchase obligations, and other commitments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ContractualObligation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestructuringCostAndReserveLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestructuringCostAndReserveLineItems</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestructuringReserveCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of known and estimated obligations associated with exit from or disposal of business activities or restructurings pursuant to a duly authorized plan, which are expected to be paid in the next twelve months or in the normal operating cycle if longer. Costs of such activities include those for one-time termination benefits, termination of an operating lease or other contract, consolidating or closing facilities, relocating employees, and costs associated with an ongoing benefit arrangement, but excludes costs associated with the retirement of a long-lived asset.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 420<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6394359&amp;loc=d3e17939-110869<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 5<br> -Section P<br> -Subsection 4<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestructuringReserveCurrent</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestructuringCostAndReserveAxis=stra_LeaseAndRelatedCostsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestructuringCostAndReserveAxis=stra_LeaseAndRelatedCostsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6828857616">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Property and Equipment (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property and equipment, gross</a></td>
<td class="nump">$ 219,734<span></span>
</td>
<td class="nump">$ 220,227<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment', window );">Accumulated depreciation and amortization</a></td>
<td class="num">(142,595)<span></span>
</td>
<td class="num">(137,961)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Property and equipment, net</a></td>
<td class="nump">77,139<span></span>
</td>
<td class="nump">82,266<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LandMember', window );">Land [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property and equipment, gross</a></td>
<td class="nump">7,138<span></span>
</td>
<td class="nump">7,138<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_BuildingAndBuildingImprovementsMember', window );">Buildings and improvements [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property and equipment, gross</a></td>
<td class="nump">19,109<span></span>
</td>
<td class="nump">18,998<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=stra_FurnitureEquipmentAndComputerHardwareAndSoftwareMember', window );">Furniture, equipment, and computer hardware and software [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property and equipment, gross</a></td>
<td class="nump">150,597<span></span>
</td>
<td class="nump">153,417<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LeaseholdImprovementsMember', window );">Leasehold improvements [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property and equipment, gross</a></td>
<td class="nump">38,639<span></span>
</td>
<td class="nump">38,732<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_ConstructionInProgressMember', window );">Construction in progress [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property and equipment, gross</a></td>
<td class="nump">$ 4,251<span></span>
</td>
<td class="nump">$ 1,942<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MaximumMember', window );">Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Estimated useful life of property and equipment</a></td>
<td class="text">40 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MaximumMember', window );">Maximum [Member] | Buildings and improvements [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Estimated useful life of property and equipment</a></td>
<td class="text">40 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MaximumMember', window );">Maximum [Member] | Furniture, equipment, and computer hardware and software [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Estimated useful life of property and equipment</a></td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MaximumMember', window );">Maximum [Member] | Leasehold improvements [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Estimated useful life of property and equipment</a></td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MinimumMember', window );">Minimum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Estimated useful life of property and equipment</a></td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MinimumMember', window );">Minimum [Member] | Buildings and improvements [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Estimated useful life of property and equipment</a></td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MinimumMember', window );">Minimum [Member] | Furniture, equipment, and computer hardware and software [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Estimated useful life of property and equipment</a></td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MinimumMember', window );">Minimum [Member] | Leasehold improvements [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Estimated useful life of property and equipment</a></td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.14)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 13<br> -Subparagraph a<br> -Article 5<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 8<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentUsefulLife">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentUsefulLife</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LandMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LandMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_BuildingAndBuildingImprovementsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_BuildingAndBuildingImprovementsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=stra_FurnitureEquipmentAndComputerHardwareAndSoftwareMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=stra_FurnitureEquipmentAndComputerHardwareAndSoftwareMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LeaseholdImprovementsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LeaseholdImprovementsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_ConstructionInProgressMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_ConstructionInProgressMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RangeAxis=us-gaap_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MaximumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RangeAxis=us-gaap_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MinimumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6740684064">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Property and Equipment (Details Textual) - USD ($)<br> $ in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentAbstract', window );"><strong>Property and Equipment [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_LeaseholdImprovementsReimbursedByLessorsAsLeaseIncentives', window );">Leasehold improvements reimbursed by lessors as lease incentives</a></td>
<td class="nump">$ 2.9<span></span>
</td>
<td class="nump">$ 0.1<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentDisposals', window );">Fixed assets written off</a></td>
<td class="nump">$ 13.3<span></span>
</td>
<td class="nump">$ 13.6<span></span>
</td>
</tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_LeaseholdImprovementsReimbursedByLessorsAsLeaseIncentives">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Increase of leasehold improvements reimbursed by lessors during the period. These reimbursements were capitalized as leasehold improvements and a long-term liability established.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_LeaseholdImprovementsReimbursedByLessorsAsLeaseIncentives</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentAbstract</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of divestiture of long-lived, physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentDisposals</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>60
<FILENAME>R46.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6828287600">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Fair Value Measurement (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_CashEquivalentsFairValueAbstract', window );"><strong>Cash equivalents:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureRecurring', window );">Total assets at fair value on a recurring basis</a></td>
<td class="nump">$ 100<span></span>
</td>
<td class="nump">$ 8,418<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_OtherLiabilitiesFairValueAbstract', window );"><strong>Other long-term liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureRecurring', window );">Total liabilities at fair value on a recurring basis</a></td>
<td class="nump">3,278<span></span>
</td>
<td class="nump">2,398<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentAxis=us-gaap_MoneyMarketFundsMember', window );">Money market funds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_CashEquivalentsFairValueAbstract', window );"><strong>Cash equivalents:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureRecurring', window );">Total assets at fair value on a recurring basis</a></td>
<td class="nump">100<span></span>
</td>
<td class="nump">8,275<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentAxis=stra_DeferredPaymentsMember', window );">Deferred payments [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_OtherLiabilitiesFairValueAbstract', window );"><strong>Other long-term liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureRecurring', window );">Total liabilities at fair value on a recurring basis</a></td>
<td class="nump">3,278<span></span>
</td>
<td class="nump">2,398<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentAxis=us-gaap_InterestRateSwapMember', window );">Interest rate swaps [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_CashEquivalentsFairValueAbstract', window );"><strong>Cash equivalents:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureRecurring', window );">Total assets at fair value on a recurring basis</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">143<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member', window );">Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1) [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_CashEquivalentsFairValueAbstract', window );"><strong>Cash equivalents:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureRecurring', window );">Total assets at fair value on a recurring basis</a></td>
<td class="nump">$ 100<span></span>
</td>
<td class="nump">$ 8,275<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_OtherLiabilitiesFairValueAbstract', window );"><strong>Other long-term liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureRecurring', window );">Total liabilities at fair value on a recurring basis</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member', window );">Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1) [Member] | Money market funds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_CashEquivalentsFairValueAbstract', window );"><strong>Cash equivalents:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureRecurring', window );">Total assets at fair value on a recurring basis</a></td>
<td class="nump">$ 100<span></span>
</td>
<td class="nump">$ 8,275<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member', window );">Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1) [Member] | Deferred payments [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_OtherLiabilitiesFairValueAbstract', window );"><strong>Other long-term liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureRecurring', window );">Total liabilities at fair value on a recurring basis</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member', window );">Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1) [Member] | Interest rate swaps [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_CashEquivalentsFairValueAbstract', window );"><strong>Cash equivalents:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureRecurring', window );">Total assets at fair value on a recurring basis</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member', window );">Significant Other Observable Inputs (Level 2) [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_CashEquivalentsFairValueAbstract', window );"><strong>Cash equivalents:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureRecurring', window );">Total assets at fair value on a recurring basis</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 143<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_OtherLiabilitiesFairValueAbstract', window );"><strong>Other long-term liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureRecurring', window );">Total liabilities at fair value on a recurring basis</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member', window );">Significant Other Observable Inputs (Level 2) [Member] | Money market funds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_CashEquivalentsFairValueAbstract', window );"><strong>Cash equivalents:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureRecurring', window );">Total assets at fair value on a recurring basis</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member', window );">Significant Other Observable Inputs (Level 2) [Member] | Deferred payments [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_OtherLiabilitiesFairValueAbstract', window );"><strong>Other long-term liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureRecurring', window );">Total liabilities at fair value on a recurring basis</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member', window );">Significant Other Observable Inputs (Level 2) [Member] | Interest rate swaps [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_CashEquivalentsFairValueAbstract', window );"><strong>Cash equivalents:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureRecurring', window );">Total assets at fair value on a recurring basis</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 143<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member', window );">Significant Unobservable Inputs (Level 3) [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_CashEquivalentsFairValueAbstract', window );"><strong>Cash equivalents:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureRecurring', window );">Total assets at fair value on a recurring basis</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_OtherLiabilitiesFairValueAbstract', window );"><strong>Other long-term liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureRecurring', window );">Total liabilities at fair value on a recurring basis</a></td>
<td class="nump">$ 3,278<span></span>
</td>
<td class="nump">$ 2,398<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member', window );">Significant Unobservable Inputs (Level 3) [Member] | Money market funds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_CashEquivalentsFairValueAbstract', window );"><strong>Cash equivalents:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureRecurring', window );">Total assets at fair value on a recurring basis</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member', window );">Significant Unobservable Inputs (Level 3) [Member] | Deferred payments [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_OtherLiabilitiesFairValueAbstract', window );"><strong>Other long-term liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureRecurring', window );">Total liabilities at fair value on a recurring basis</a></td>
<td class="nump">$ 3,278<span></span>
</td>
<td class="nump">$ 2,398<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member', window );">Significant Unobservable Inputs (Level 3) [Member] | Interest rate swaps [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_CashEquivalentsFairValueAbstract', window );"><strong>Cash equivalents:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureRecurring', window );">Total assets at fair value on a recurring basis</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_CashEquivalentsFairValueAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cash equivalents fair value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_CashEquivalentsFairValueAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_OtherLiabilitiesFairValueAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other liabilities fair value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_OtherLiabilitiesFairValueAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsFairValueDisclosureRecurring">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents the aggregate of the assets reported on the balance sheet at period end measured at fair value on a recurring basis by the entity. This element is intended to be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsFairValueDisclosureRecurring</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesFairValueDisclosureRecurring">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregation of the liabilities reported on the balance sheet measured at fair value on a recurring basis by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesFairValueDisclosureRecurring</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancialInstrumentAxis=us-gaap_MoneyMarketFundsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancialInstrumentAxis=us-gaap_MoneyMarketFundsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancialInstrumentAxis=stra_DeferredPaymentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancialInstrumentAxis=stra_DeferredPaymentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancialInstrumentAxis=us-gaap_InterestRateSwapMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancialInstrumentAxis=us-gaap_InterestRateSwapMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>61
<FILENAME>R47.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6635573312">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair Value Measurement (Details 1) - Deferred Payments [Member] - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward', window );"><strong>Schedule of changes in fair value of level 3 liability</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue', window );">Balance at beginning of year</a></td>
<td class="nump">$ 2,398<span></span>
</td>
<td class="nump">$ 2,115<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements', window );">Amounts earned</a></td>
<td class="num">(756)<span></span>
</td>
<td class="num">(545)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease', window );">Adjustments to fair value</a></td>
<td class="nump">1,636<span></span>
</td>
<td class="nump">828<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue', window );">Balance at end of year</a></td>
<td class="nump">$ 3,278<span></span>
</td>
<td class="nump">$ 2,398<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) of financial instrument classified as a liability measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of settlements of financial instrument classified as a liability measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of financial instrument classified as a liability measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueByLiabilityClassAxis=stra_DeferredPaymentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByLiabilityClassAxis=stra_DeferredPaymentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>62
<FILENAME>R48.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6750193264">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair Value Measurement (Details Textual)<br> $ in Millions</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>Sellers</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_FairValueMeasurementTextualAbstract', window );"><strong>Fair Value Measurement (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_DeferredPaymentArrangementNumberOfSellers', window );">Deferred payment arrangement number of sellers | Sellers</a></td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Carrying value of the debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 118.8<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentRiskAxis=us-gaap_InterestRateSwapMember', window );">Interest Rate Swap [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_FairValueMeasurementTextualAbstract', window );"><strong>Fair Value Measurement (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Interest rate swap, notional amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 118.8<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_DerivativeNotionalAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate notional amount specified by the derivative(s). Expressed as an absolute value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Article 12<br> -Section 13<br> -Sentence Column B<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_DerivativeNotionalAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>invest_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_DeferredPaymentArrangementNumberOfSellers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the number of sellers with which the entity has entered into deferred payment arrangements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_DeferredPaymentArrangementNumberOfSellers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_FairValueMeasurementTextualAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_FairValueMeasurementTextualAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.16)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.16)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 20, 22<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeInstrumentRiskAxis=us-gaap_InterestRateSwapMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeInstrumentRiskAxis=us-gaap_InterestRateSwapMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>63
<FILENAME>R49.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6762483408">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Long Term Debt (Details)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Jul. 02, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th"><div>Nov. 08, 2012</div></th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_LongTermDebtTextualAbstract', window );"><strong>Long Term Debt (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Revolving credit facility, value</a></td>
<td class="nump">$ 150,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_MaximumAggregateIncrementalTermLoans', window );">Maximum aggregate incremental term loans</a></td>
<td class="nump">$ 50,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityExpirationDate1', window );">Maturity date</a></td>
<td class="text">Jul.  02,  2020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPaid', window );">Cash interest paid</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,400,000<span></span>
</td>
<td class="nump">$ 4,400,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityCovenantTerms', window );">Covenant terms required by credit facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"><div><p class="textind" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt; color: black; text-transform: none; text-indent: 20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 13pt;">&#8226;</font></font><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;</font></font>&#160;A leverage ratio of not greater than 2 to 1. Leverage ratio is defined as the ratio of total debt to trailing four-quarter EBITDA (earnings before interest, taxes, depreciation, amortization and non-cash charges such as stock-based compensation).</p><p class="blm" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt 40pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 13pt;">&#8226;</font></font><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;</font></font>&#160;A coverage ratio of not less than 1.75 to 1. Coverage ratio is defined as the ratio of trailing four-quarter EBITDA and rent expense to trailing four-quarter interest and rent expense.</p><p class="blm" style="font: 10pt/12pt timesnewromanpsstd-regular; margin: 6pt 0in 0pt 40pt; color: black; text-transform: none; text-indent: -20pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 13pt;">&#8226;</font></font><font class="bullet" style="top: 2pt; position: relative;"><font style="font-size: 8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;</font></font>&#160;A Department of Education Financial Responsibility Composite Score of not less than 1.5.</p></div><span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_MaximumLeverageRatioToBeMaintainedUnderCreditFacility', window );">Maximum total leverage ratio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_MinimumCoverageRatioToBeMaintainedUnderCreditFacility', window );">Minimum coverage ratio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.75<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_MinimumDepartmentOfEducationFinancialCompositeScoreToBeMaintainedUnderCreditFacility', window );">Minimum department of education financial composite score</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCredit', window );">Revolving credit facility, outstanding</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsOfDebtIssuanceCosts', window );">Payments of debt financing costs</a></td>
<td class="nump">$ 900,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateDuringPeriod', window );">Average annual interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.30%<span></span>
</td>
<td class="nump">4.30%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=stra_PriorCreditAgreementMember', window );">Prior Credit Agreement [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_LongTermDebtTextualAbstract', window );"><strong>Long Term Debt (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityExpirationDate1', window );">Maturity date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Dec. 31,  2016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=us-gaap_RevolvingCreditFacilityMember', window );">Revolving Credit Facility [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_LongTermDebtTextualAbstract', window );"><strong>Long Term Debt (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityInterestRateDescription', window );">Interest rate description</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Borrowings under the Revolver will bear interest at a per annum rate equal to, at the Company's election, LIBOR or a base rate, plus a margin ranging from 1.75% to 2.25% (as compared to 2.00% to 2.50% under the Prior Credit Agreement), depending on the Company's leverage ratio.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=us-gaap_RevolvingCreditFacilityMember', window );">Revolving Credit Facility [Member] | Minimum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_LongTermDebtTextualAbstract', window );"><strong>Long Term Debt (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1', window );">Margin rate for interest if using base rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.75%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage', window );">Unused commitment fee</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.25%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=us-gaap_RevolvingCreditFacilityMember', window );">Revolving Credit Facility [Member] | Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_LongTermDebtTextualAbstract', window );"><strong>Long Term Debt (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1', window );">Margin rate for interest if using base rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.25%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage', window );">Unused commitment fee</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.35%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=us-gaap_RevolvingCreditFacilityMember', window );">Revolving Credit Facility [Member] | Prior Credit Agreement [Member] | Minimum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_LongTermDebtTextualAbstract', window );"><strong>Long Term Debt (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1', window );">Margin rate for interest if using base rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage', window );">Unused commitment fee</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.30%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=us-gaap_RevolvingCreditFacilityMember', window );">Revolving Credit Facility [Member] | Prior Credit Agreement [Member] | Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_LongTermDebtTextualAbstract', window );"><strong>Long Term Debt (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1', window );">Margin rate for interest if using base rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage', window );">Unused commitment fee</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.40%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=stra_TermLoanFacilityMember', window );">Term Loan Facility [Member] | Interest Rate Swap [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_LongTermDebtTextualAbstract', window );"><strong>Long Term Debt (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentageRateRangeMinimum', window );">Interest rate swap, fixed rate minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.85%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentageRateRangeMaximum', window );">Interest rate swap, fixed rate maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.35%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_LongTermDebtTextualAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_LongTermDebtTextualAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_MaximumAggregateIncrementalTermLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum value of the option to increase the commitments under the revolver or establish one or more incremental term loans.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_MaximumAggregateIncrementalTermLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_MaximumLeverageRatioToBeMaintainedUnderCreditFacility">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maximum leverage ratio to be maintained under credit facility.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_MaximumLeverageRatioToBeMaintainedUnderCreditFacility</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_MinimumCoverageRatioToBeMaintainedUnderCreditFacility">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Minimum coverage ratio to be maintained under credit facility.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_MinimumCoverageRatioToBeMaintainedUnderCreditFacility</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_MinimumDepartmentOfEducationFinancialCompositeScoreToBeMaintainedUnderCreditFacility">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Minimum department of education financial composite score to be maintained under credit facility.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_MinimumDepartmentOfEducationFinancialCompositeScoreToBeMaintainedUnderCreditFacility</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage points added to the reference rate to compute the variable rate on the debt instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentBasisSpreadOnVariableRate1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentInterestRateDuringPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The average effective interest rate during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28551-108399<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentInterestRateDuringPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentInterestRateEffectivePercentageRateRangeMaximum">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>When presenting a range of interest rates, the highest effective rate for funds borrowed under the debt agreement as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentInterestRateEffectivePercentageRateRangeMaximum</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentInterestRateEffectivePercentageRateRangeMinimum">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>When presenting a range of interest rates, the lowest effective rate for funds borrowed under the debt agreement as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentInterestRateEffectivePercentageRateRangeMinimum</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestPaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash paid for interest during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4297-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestPaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCredit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.16)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.16)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 19, 20, 22<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCredit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityCovenantTerms">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of the conditions for borrowing under the credit facility including the nature of any restrictions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityCovenantTerms</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityExpirationDate1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Date the credit facility terminates, in CCYY-MM-DD format.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityExpirationDate1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityInterestRateDescription">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of the interest rate for the amounts borrowed under the credit facility, including the terms and the method for determining the interest rate (for example, fixed or variable, LIBOR plus a percentage, increasing rate, timing of interest rate resets, remarketing provisions).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityInterestRateDescription</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fee, expressed as a percentage of the line of credit facility, for available but unused credit capacity under the credit facility.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsOfDebtIssuanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3291-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsOfDebtIssuanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityAxis=stra_PriorCreditAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=stra_PriorCreditAgreementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=us-gaap_RevolvingCreditFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=us-gaap_RevolvingCreditFacilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RangeAxis=us-gaap_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MinimumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RangeAxis=us-gaap_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MaximumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=stra_TermLoanFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=stra_TermLoanFacilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeInstrumentRiskAxis=us-gaap_InterestRateSwapMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeInstrumentRiskAxis=us-gaap_InterestRateSwapMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>64
<FILENAME>R50.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6762438688">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock Options, Restricted Stock and Restricted Stock Units (Details) - Restricted stock and restricted stock units [Member] - $ / shares<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward', window );"><strong>Schedule of restricted stock and restricted stock units activity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber', window );">Beginning Balance, Number of shares or units</a></td>
<td class="nump">524,216<span></span>
</td>
<td class="nump">487,773<span></span>
</td>
<td class="nump">434,439<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod', window );">Grants, Number of shares or units</a></td>
<td class="nump">126,655<span></span>
</td>
<td class="nump">108,606<span></span>
</td>
<td class="nump">225,741<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod', window );">Vested shares, Number of shares or units</a></td>
<td class="num">(13,725)<span></span>
</td>
<td class="num">(69,434)<span></span>
</td>
<td class="num">(51,916)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod', window );">Forfeitures, Number of shares or units</a></td>
<td class="num">(2,819)<span></span>
</td>
<td class="num">(2,729)<span></span>
</td>
<td class="num">(120,491)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber', window );">Ending Balance, Number of shares or units</a></td>
<td class="nump">634,327<span></span>
</td>
<td class="nump">524,216<span></span>
</td>
<td class="nump">487,773<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue', window );">Beginning Balance, Weighted-average grant price</a></td>
<td class="nump">$ 115.67<span></span>
</td>
<td class="nump">$ 131.51<span></span>
</td>
<td class="nump">$ 178.88<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Grants, Weighted-average grant price</a></td>
<td class="nump">61.00<span></span>
</td>
<td class="nump">38.95<span></span>
</td>
<td class="nump">57.90<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue', window );">Vested shares, Weighted-average grant price</a></td>
<td class="nump">52.94<span></span>
</td>
<td class="nump">158.97<span></span>
</td>
<td class="nump">164.22<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue', window );">Forfeitures, Weighted-average grant price</a></td>
<td class="nump">115.55<span></span>
</td>
<td class="nump">93.44<span></span>
</td>
<td class="nump">140.30<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue', window );">Ending Balance, Weighted-average grant price</a></td>
<td class="nump">$ 104.66<span></span>
</td>
<td class="nump">$ 115.67<span></span>
</td>
<td class="nump">$ 131.51<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of equity-based payment instruments, excluding stock (or unit) options, that were forfeited during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average fair value as of the grant date of equity-based award plans other than stock (unit) option plans that were not exercised or put into effect as a result of the occurrence of a terminating event.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average fair value as of grant date pertaining to an equity-based award plan other than a stock (or unit) option plan for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash in accordance with the terms of the arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=us-gaap_RestrictedStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=us-gaap_RestrictedStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
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<TYPE>XML
<SEQUENCE>65
<FILENAME>R51.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6828425152">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Stock Options, Restricted Stock and Restricted Stock Units (Details 1) - Stock options [Member] - USD ($)<br> $ / shares in Units, $ in Thousands</strong></div></th>
<th class="th" colspan="4">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
<th class="th"><div>Dec. 31, 2012</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward', window );"><strong>Schedule of stock option activity and other stock option information</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Beginning Balance, Number of shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100,000<span></span>
</td>
<td class="nump">100,000<span></span>
</td>
<td class="nump">100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Grants, Number of shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Exercises, Number of shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod', window );">Forfeitures/Expirations, Number of shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(100,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Ending Balance, Number of shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100,000<span></span>
</td>
<td class="nump">100,000<span></span>
</td>
<td class="nump">100,000<span></span>
</td>
<td class="nump">100,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber', window );">Exercisable, Number of shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Beginning Balance, Weighted-average exercise price</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 51.95<span></span>
</td>
<td class="nump">$ 51.95<span></span>
</td>
<td class="nump">$ 107.28<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice', window );">Grants, Weighted-average exercise price</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 51.95<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice', window );">Exercises, Weighted-average exercise price</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice', window );">Forfeitures/Expirations, Weighted-average exercise price</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 107.28<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Ending Balance, Weighted-average exercise price</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 51.95<span></span>
</td>
<td class="nump">$ 51.95<span></span>
</td>
<td class="nump">$ 51.95<span></span>
</td>
<td class="nump">$ 107.28<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice', window );">Exercisable, Weighted-average exercise price</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 51.95<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2', window );">Weighted-average remaining contractual life (years)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">5 years 1 month 6 days<span></span>
</td>
<td class="text">6 years<span></span>
</td>
<td class="text">7 years<span></span>
</td>
<td class="text">1 month 6 days<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1', window );">Exercisable, Weighted-average remaining contractual life (years)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">5 years 1 month 6 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue', window );">Beginning Balance, Aggregate intrinsic value</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 2,233<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue', window );">Ending Balance, Aggregate intrinsic value</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">817<span></span>
</td>
<td class="nump">$ 2,233<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1', window );">Exercisable, Aggregate intrinsic value</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 817<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr><td colspan="6"></td></tr>
<tr><td colspan="6"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between the Company's closing stock price on the respective trading day and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holder had all options been exercised on the respective trading day. The amount of intrinsic value will change based on the fair market value of the Company's common stock.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares into which fully or partially vested stock options outstanding as of the balance sheet date can be currently converted under the option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options outstanding and currently exercisable under the stock option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares under options that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the stock option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gross number of share options (or share units) granted during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount by which the current fair value of the underlying stock exceeds the exercise price of options outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of options outstanding, including both vested and non-vested options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average price at which option holders acquired shares when converting their stock options into shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average price at which grantees could have acquired the underlying shares with respect to stock options that were terminated.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average per share amount at which grantees can acquire shares of common stock by exercise of options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of difference between fair value of the underlying shares reserved for issuance and exercise price of vested portions of options outstanding and currently exercisable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average remaining contractual term for vested portions of options outstanding and currently exercisable or convertible, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average remaining contractual term for option awards outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of share options (or share units) exercised during the current period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28,29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>66
<FILENAME>R52.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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</head>
<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6740684064">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Stock Options, Restricted Stock and Restricted Stock Units (Details 2) - Employee Stock [Member] - $ / shares<br></strong></div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber', window );">Exercisable, Number of shares</a></td>
<td class="nump">100,000<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice', window );">Exercisable, Weighted-average exercise price</a></td>
<td class="nump">$ 51.95<span></span>
</td>
<td class="nump">$ 51.95<span></span>
</td>
<td class="nump">$ 51.95<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares into which fully or partially vested stock options outstanding as of the balance sheet date can be currently converted under the option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options outstanding and currently exercisable under the stock option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=us-gaap_EmployeeStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>67
<FILENAME>R53.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6762799168">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock Options, Restricted Stock and Restricted Stock Units (Details 3) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationAggregateDisclosuresAbstract', window );"><strong>Schedule of stock-based compensation expense</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Stock-based compensation expense included in operating expense</a></td>
<td class="nump">$ 10,213<span></span>
</td>
<td class="nump">$ 9,453<span></span>
</td>
<td class="nump">$ 9,291<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense', window );">Tax benefit</a></td>
<td class="nump">4,032<span></span>
</td>
<td class="nump">3,734<span></span>
</td>
<td class="nump">3,698<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax', window );">Stock-based compensation expense, net of income tax</a></td>
<td class="nump">6,181<span></span>
</td>
<td class="nump">5,719<span></span>
</td>
<td class="nump">5,593<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementLocationAxis=stra_InstructionAndEducationalSupportMember', window );">Instruction and educational support [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationAggregateDisclosuresAbstract', window );"><strong>Schedule of stock-based compensation expense</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Stock-based compensation expense included in operating expense</a></td>
<td class="nump">$ 2,134<span></span>
</td>
<td class="nump">$ 1,736<span></span>
</td>
<td class="nump">$ 1,976<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementLocationAxis=us-gaap_SellingAndMarketingExpenseMember', window );">Marketing [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationAggregateDisclosuresAbstract', window );"><strong>Schedule of stock-based compensation expense</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Stock-based compensation expense included in operating expense</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementLocationAxis=stra_AdmissionsAdvisoryMember', window );">Admissions advisory [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationAggregateDisclosuresAbstract', window );"><strong>Schedule of stock-based compensation expense</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Stock-based compensation expense included in operating expense</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementLocationAxis=us-gaap_GeneralAndAdministrativeExpenseMember', window );">General and administration [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationAggregateDisclosuresAbstract', window );"><strong>Schedule of stock-based compensation expense</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Stock-based compensation expense included in operating expense</a></td>
<td class="nump">$ 8,079<span></span>
</td>
<td class="nump">$ 7,717<span></span>
</td>
<td class="nump">$ 7,315<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense, net of income tax, recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeServiceShareBasedCompensationAggregateDisclosuresAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeServiceShareBasedCompensationAggregateDisclosuresAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total recognized tax benefit related to compensation cost for equity-based payment arrangements recognized in income during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(1)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeStatementLocationAxis=stra_InstructionAndEducationalSupportMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeStatementLocationAxis=stra_InstructionAndEducationalSupportMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeStatementLocationAxis=us-gaap_SellingAndMarketingExpenseMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeStatementLocationAxis=us-gaap_SellingAndMarketingExpenseMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeStatementLocationAxis=stra_AdmissionsAdvisoryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeStatementLocationAxis=stra_AdmissionsAdvisoryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeStatementLocationAxis=us-gaap_GeneralAndAdministrativeExpenseMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeStatementLocationAxis=us-gaap_GeneralAndAdministrativeExpenseMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<head>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6750579232">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock Options, Restricted Stock and Restricted Stock Units (Details 4) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract', window );"><strong>Schedule of information regarding share-based payment arrangements</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromStockOptionsExercised', window );">Proceeds from stock options exercised</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_ExcessTaxBenefitsShortfallRelatedToShareBasedPaymentArrangements', window );">Tax shortfall related to share-based payment arrangements</a></td>
<td class="num">$ (24)<span></span>
</td>
<td class="num">$ (2,039)<span></span>
</td>
<td class="num">$ (3,567)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue', window );">Intrinsic value of stock options exercised</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_ExcessTaxBenefitsShortfallRelatedToShareBasedPaymentArrangements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Excess tax shortfall resulting from increases in the entity's income taxes that arise when compensation cost (from non-qualified share-based compensation) recognized on the entity's tax return does not exceed compensation cot from equity based compensation recognized in financial statements. Excess tax benefits resulting from decreases in the entity's income taxes that arise when compensation cost (from non-qualified share-based compensation) recognized on the entity's tax return exceeds compensation cost from equity-based compensation recognized in financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_ExcessTaxBenefitsShortfallRelatedToShareBasedPaymentArrangements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromStockOptionsExercised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (j)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromStockOptionsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated difference between fair value of underlying shares on dates of exercise and exercise price on options exercised (or share units converted) into shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (d)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<DOCUMENT>
<TYPE>XML
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6761075328">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock Options, Restricted Stock and Restricted Stock Units (Details Textual) - USD ($)<br> $ / shares in Units, $ in Millions</strong></div></th>
<th class="th" colspan="1">1 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Feb. 28, 2015</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>May. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized', window );">Additional shares authorized for grants</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_MaximumTermOfAwardsGrantedUnderPlan', window );">Maximum term of the awards granted under the Plan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized', window );">Stock-based compensation cost which has not yet been recognized</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 25.7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1', window );">Stock-based compensation cost recognized period, in months</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">33 months<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_RestrictedStockAwardSubjectToPerformanceCondition', window );">Restricted stock awarded subject to performance condition</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">467,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_BoardOfDirectorsChairmanMember', window );">Board of Directors [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized', window );">Shares authorized for grants</a></td>
<td class="nump">71,991<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">40,867<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage', window );">Vesting percentage</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate', window );">Vesting date</a></td>
<td class="text">Feb. 28,  2019<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_ClosingPriceOfStockOnDateOfStockGrant', window );">Closing price of stock on date of stock grant</a></td>
<td class="nump">$ 70.15<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 48.94<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_BoardOfDirectorsChairmanMember', window );">Board of Directors [Member] | Vesting over three years [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized', window );">Shares authorized for grants</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">13,797<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_ClosingPriceOfStockOnDateOfStockGrant">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Closing price of stock on date of stock grant.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_ClosingPriceOfStockOnDateOfStockGrant</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_MaximumTermOfAwardsGrantedUnderPlan">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maximum term of the awards granted under the plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_MaximumTermOfAwardsGrantedUnderPlan</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_RestrictedStockAwardSubjectToPerformanceCondition">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Restricted stock awarded subject to performance condition.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_RestrictedStockAwardSubjectToPerformanceCondition</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Share based compensation arrangement by share based payment award award vesting date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Unrecognized cost of unvested share-based compensation awards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (i)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average period over which unrecognized compensation is expected to be recognized for equity-based compensation plans, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (i)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of additional shares authorized for issuance under an established share-based compensation plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of shares (or other type of equity) originally approved (usually by shareholders and board of directors), net of any subsequent amendments and adjustments, for awards under the equity-based compensation plan. As stock or unit options and equity instruments other than options are awarded to participants, the shares or units remain authorized and become reserved for issuance under outstanding awards (not necessarily vested).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of vesting of share-based compensation awards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_BoardOfDirectorsChairmanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_BoardOfDirectorsChairmanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_VestingAxis=stra_VestingPeriodMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_VestingAxis=stra_VestingPeriodMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<head>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6742979936">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Other Long-Term Liabilities (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherLiabilitiesNoncurrentAbstract', window );"><strong>Other Long-Term Liabilities [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_LossOnFacilitiesNotInUse', window );">Loss on facilities not in use</a></td>
<td class="nump">$ 15,229<span></span>
</td>
<td class="nump">$ 21,280<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenueNoncurrent', window );">Deferred revenue, net of current portion</a></td>
<td class="nump">14,429<span></span>
</td>
<td class="nump">9,654<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_DeferredRentAndOtherFacilityCostsNonCurrent', window );">Deferred rent and other facility costs</a></td>
<td class="nump">8,993<span></span>
</td>
<td class="nump">8,646<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_DeferredAcquisitionPaymentsNonCurrent', window );">Deferred payments related to acquisition</a></td>
<td class="nump">6,078<span></span>
</td>
<td class="nump">5,198<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_LeaseIncentivePayableNonCurrent', window );">Lease incentives</a></td>
<td class="nump">3,125<span></span>
</td>
<td class="nump">1,056<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredGainOnSaleOfProperty', window );">Deferred gain on sale of campus building</a></td>
<td class="nump">133<span></span>
</td>
<td class="nump">414<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent', window );">Total other long-term liabilities</a></td>
<td class="nump">$ 47,987<span></span>
</td>
<td class="nump">$ 46,248<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_DeferredAcquisitionPaymentsNonCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents non-current deferred payments related to acquisitions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_DeferredAcquisitionPaymentsNonCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_DeferredRentAndOtherFacilityCostsNonCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents non-current deferred rent and other facility costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_DeferredRentAndOtherFacilityCostsNonCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_LeaseIncentivePayableNonCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents non-current lease incentive payable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_LeaseIncentivePayableNonCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_LossOnFacilitiesNotInUse">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents loss on facilities not in use.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_LossOnFacilitiesNotInUse</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredGainOnSaleOfProperty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of gain on the sale of property that does not qualify for gain recognition as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 40<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 5.U.Q2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6955272&amp;loc=d3e221323-122791<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredGainOnSaleOfProperty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRevenueNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The noncurrent portion of deferred revenue amount as of balance sheet date. Deferred revenue is a liability related to a revenue producing activity for which revenue has not yet been recognized, and is not expected to be recognized in the next twelve months. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 13.A.4(a).Q1)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012821&amp;loc=d3e214044-122780<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 13<br> -Section A<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredRevenueNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregated carrying amounts of obligations as of the balance sheet date, excluding long-term debt, incurred as part of the normal operations that are expected to be paid after one year or beyond the normal operating cycle, if longer. Alternate captions include Total Deferred Credits and Other Liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherLiabilitiesNoncurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherLiabilitiesNoncurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
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<head>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6761058416">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other Long-Term Liabilities (Details Textual)<br> $ in Millions</strong></div></th>
<th class="th" colspan="1">1 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Jun. 30, 2007 </div>
<div>USD ($) </div>
<div>Asset</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($) </div>
<div>Sellers</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_OtherLongTermLiabilitiesTextualAbstract', window );"><strong>Other Long -Term Liabilities (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SaleLeasebackTransactionGrossProceedsInvestingActivities', window );">Sale price of one of campus buildings</a></td>
<td class="nump">$ 5.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SaleLeasebackTransactionLeaseTerms', window );">Sale and lease back term for most of the campus building</a></td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SaleLeasebackTransactionDeferredGainGross', window );">Gain on sale and lease back of one of campus buildings before tax</a></td>
<td class="nump">$ 2.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_FundsReceivedFromInvestor', window );">Funds received from investor</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_SaleLeaseBackTransactionLeaseTermOne', window );">Sale and lease back term</a></td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_SaleLeaseBackTransactionNumberOfAssetsSold', window );">Number of assets sold | Asset</a></td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_DeferredPaymentArrangementValue', window );">Deferred payment arrangements value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3.3<span></span>
</td>
<td class="nump">$ 2.4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_DeferredPaymentArrangementNumberOfSellers', window );">Deferred payment arrangement number of sellers | Sellers</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MinimumMember', window );">Minimum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_OtherLongTermLiabilitiesTextualAbstract', window );"><strong>Other Long -Term Liabilities (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_LeaseholdImprovementsLongTermLiabilityAmortizationPeriod', window );">Leasehold improvements and long-term liability amortization period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MaximumMember', window );">Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_OtherLongTermLiabilitiesTextualAbstract', window );"><strong>Other Long -Term Liabilities (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_LeaseholdImprovementsLongTermLiabilityAmortizationPeriod', window );">Leasehold improvements and long-term liability amortization period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_DeferredPaymentArrangementNumberOfSellers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the number of sellers with which the entity has entered into deferred payment arrangements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_DeferredPaymentArrangementNumberOfSellers</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_DeferredPaymentArrangementValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The value of the deferred payment arrangement with one of the sellers in connection with an acquisition.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_DeferredPaymentArrangementValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_FundsReceivedFromInvestor">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Seller's contribution to the Company representing the seller's continuing interest in the assets acquired.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_FundsReceivedFromInvestor</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
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<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_LeaseholdImprovementsLongTermLiabilityAmortizationPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Leasehold improvements, long term liability amortization period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_LeaseholdImprovementsLongTermLiabilityAmortizationPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_OtherLongTermLiabilitiesTextualAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_OtherLongTermLiabilitiesTextualAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_SaleLeaseBackTransactionLeaseTermOne">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the lease term of the asset leased back in a sale and lease back transaction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_SaleLeaseBackTransactionLeaseTermOne</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_SaleLeaseBackTransactionNumberOfAssetsSold">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the number of assets sold in a sale lease back transaction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_SaleLeaseBackTransactionNumberOfAssetsSold</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SaleLeasebackTransactionDeferredGainGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of the gain recorded in connection with the transaction involving the sale of property to another party and the lease of the property back to the seller to be recognized in future periods.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 40<br> -Section 25<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6456126&amp;loc=d3e49567-112750<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SaleLeasebackTransactionDeferredGainGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SaleLeasebackTransactionGrossProceedsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow before closing and deferred financing costs received by a seller-lessee in a sale-leaseback recognized in investing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 40<br> -Section 55<br> -Paragraph 52<br> -URI http://asc.fasb.org/extlink&amp;oid=28365400&amp;loc=d3e51843-112757<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 40<br> -Section 55<br> -Paragraph 50<br> -URI http://asc.fasb.org/extlink&amp;oid=28365400&amp;loc=d3e51831-112757<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 40<br> -Section 55<br> -Paragraph 51<br> -URI http://asc.fasb.org/extlink&amp;oid=28365400&amp;loc=d3e51840-112757<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SaleLeasebackTransactionGrossProceedsInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SaleLeasebackTransactionLeaseTerms">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A description of the terms of the lease(s) related to the assets being leased-back in connection with the transaction involving the sale of property to another party and the lease of the property back to the seller.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 40<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6456341&amp;loc=d3e50796-112755<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6452660&amp;loc=d3e36991-112694<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SaleLeasebackTransactionLeaseTerms</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RangeAxis=us-gaap_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MinimumMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MaximumMember</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6764402048">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other Employee Benefit Plans (Details) - Employee Stock [Member] - $ / shares<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesPurchasedForAward', window );">Shares purchased</a></td>
<td class="nump">5,136<span></span>
</td>
<td class="nump">5,872<span></span>
</td>
<td class="nump">8,911<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased', window );">Average price per share</a></td>
<td class="nump">$ 49.10<span></span>
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<td class="nump">$ 44.55<span></span>
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<td class="nump">$ 42.27<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average of per share prices paid for shares purchased on the open market for issuance to employees under the plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesPurchasedForAward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares purchased on the open market during the period for issuance to employees under the plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesPurchasedForAward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=us-gaap_EmployeeStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>73
<FILENAME>R59.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6760893184">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other Employee Benefit Plans (Details Textual) - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CompensationAndRetirementDisclosureAbstract', window );"><strong>Other Employee Benefit Plans [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeeAmount', window );">Maximum annual contribution to 401(k) plan by employees, effective January 1, 2016</a></td>
<td class="nump">$ 18,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercentOfMatch', window );">Percentage of company matching contribution to 401(K) plan</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent', window );">Defined contribution plan employer matching contribution percent</a></td>
<td class="nump">3.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount', window );">Company's contributions to 401(K) plan</a></td>
<td class="nump">$ 1,100,000<span></span>
</td>
<td class="nump">$ 900,000<span></span>
</td>
<td class="nump">$ 1,100,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_EmployeeStockPurchasePlanPercentageOfPurchasePriceFromMarketValue', window );">Common stock shares purchase price limit for employees as percentage of market value under Employee Stock Purchase Plan</a></td>
<td class="nump">90.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_EmployeeStockPurchasePlanMaximumPercentageOfPurchaseEmployeeCanMakeOnEligibleCompensation', window );">Employee stock purchase plan maximum percentage of purchase employee can make on eligible compensation</a></td>
<td class="nump">10.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_MaximumNumberOfSharesMadeAvailableForPurchaseByParticipatingEmployeesUnderEmployeeStockPurchasePlan', window );">Maximum number of shares available for purchase by participating employees</a></td>
<td class="nump">2,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_EmployeeStockPurchasePlanMaximumPercentageOfPurchaseEmployeeCanMakeOnEligibleCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Employee stock purchase plan, maximum percentage of purchase an employee can make on eligible compensation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_EmployeeStockPurchasePlanMaximumPercentageOfPurchaseEmployeeCanMakeOnEligibleCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_EmployeeStockPurchasePlanPercentageOfPurchasePriceFromMarketValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Employee stock purchase plan, percentage of purchase price from market value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_EmployeeStockPurchasePlanPercentageOfPurchasePriceFromMarketValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_MaximumNumberOfSharesMadeAvailableForPurchaseByParticipatingEmployeesUnderEmployeeStockPurchasePlan">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maximum number of shares made available for purchase by participating employees under employee stock purchase plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_MaximumNumberOfSharesMadeAvailableForPurchaseByParticipatingEmployeesUnderEmployeeStockPurchasePlan</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CompensationAndRetirementDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CompensationAndRetirementDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of discretionary contributions made by an employer to a defined contribution plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of employees' gross pay for which the employer contributes a matching contribution to a defined contribution plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercentOfMatch">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage employer matches of the employee's percentage contribution matched.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DefinedContributionPlanEmployerMatchingContributionPercentOfMatch</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeeAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maximum amount the employee may contribute to a defined contribution plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeeAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>74
<FILENAME>R60.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6736248512">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock Repurchase Plan (Details) - Stock repurchase plan [Member] - USD ($)<br> $ / shares in Units, $ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_SummaryOfStockRepurchaseActivityAbstract', window );"><strong>Summary Of Stock Repurchase Activity [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockRepurchasedDuringPeriodShares', window );">Number of shares repurchased</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">495,085<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockAcquiredAverageCostPerShare', window );">Average price paid per share</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 50.49<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1', window );">Amount available for future repurchases</a></td>
<td class="nump">$ 70.0<span></span>
</td>
<td class="nump">$ 70.0<span></span>
</td>
<td class="nump">$ 70.0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_SummaryOfStockRepurchaseActivityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_SummaryOfStockRepurchaseActivityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount remaining of a stock repurchase plan authorized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockRepurchasedDuringPeriodShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Article 3<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockRepurchasedDuringPeriodShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TreasuryStockAcquiredAverageCostPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total cost of shares repurchased divided by the total number of shares repurchased.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 30<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6405813&amp;loc=d3e23239-112655<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TreasuryStockAcquiredAverageCostPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareRepurchaseProgramAxis=stra_StockRepurchasePlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareRepurchaseProgramAxis=stra_StockRepurchasePlanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<DOCUMENT>
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<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6737249936">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Stock Repurchase Plan (Details Textual) - Stock repurchase plan [Member] - USD ($)<br> $ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
<th class="th"><div>Nov. 30, 2003</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_StockRepurchasePlanDetailsTextualAbstract', window );"><strong>Stock repurchase plan (Details Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockRepurchaseProgramAuthorizedAmount1', window );">Authorized common stock for repurchases, amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 15.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1', window );">Remaining authorized share for repurchases, amount</a></td>
<td class="nump">$ 70.0<span></span>
</td>
<td class="nump">$ 70.0<span></span>
</td>
<td class="nump">$ 70.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_StockRepurchasePlanDetailsTextualAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_StockRepurchasePlanDetailsTextualAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockRepurchaseProgramAuthorizedAmount1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of stock repurchase plan authorized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockRepurchaseProgramAuthorizedAmount1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount remaining of a stock repurchase plan authorized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareRepurchaseProgramAxis=stra_StockRepurchasePlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareRepurchaseProgramAxis=stra_StockRepurchasePlanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>76
<FILENAME>R62.htm
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<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6745281216">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Commitments and Contingencies (Details)<br> $ in Thousands</strong></div></th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract', window );"><strong>Schedule of minimum rental commitments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent', window );">2016</a></td>
<td class="nump">$ 37,240<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears', window );">2017</a></td>
<td class="nump">33,264<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears', window );">2018</a></td>
<td class="nump">28,819<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears', window );">2019</a></td>
<td class="nump">23,444<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears', window );">2020</a></td>
<td class="nump">18,157<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter', window );">Thereafter</a></td>
<td class="nump">26,140<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDue', window );">Total</a></td>
<td class="nump">$ 167,064<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for leases having an initial or remaining non-cancelable letter-terms in excess of one year.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6584154&amp;loc=d3e38371-112697<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41502-112717<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsDue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6584154&amp;loc=d3e38371-112697<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41502-112717<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41502-112717<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6584154&amp;loc=d3e38371-112697<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41502-112717<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6584154&amp;loc=d3e38371-112697<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41502-112717<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6584154&amp;loc=d3e38371-112697<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6584154&amp;loc=d3e38371-112697<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41502-112717<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6584154&amp;loc=d3e38371-112697<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41502-112717<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6746969888">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments and Contingencies (Details Textual)<br> $ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($) </div>
<div>Lease</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2013 </div>
<div>USD ($) </div>
<div>Campus</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingenciesDisclosureAbstract', window );"><strong>Commitments and Contingencies and Litigation [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_NumberOfLongTermNonCancelableOperatingLeases', window );">Number of long-term, non-cancelable operating leases | Lease</a></td>
<td class="nump">88<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesRentExpenseNet', window );">Rent expense</a></td>
<td class="nump">$ 37.5<span></span>
</td>
<td class="nump">$ 35.7<span></span>
</td>
<td class="nump">$ 82.2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherRestructuringCosts', window );">Charges related to the closure of campuses and other administrative facilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 36.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_NumberOfCampusLocationClosed', window );">Campus location closed | Campus</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_ReductionOfLiabilityForLossesOnFacilitiesNoLongerInUse', window );">Reduction of liability</a></td>
<td class="nump">$ 0.4<span></span>
</td>
<td class="nump">$ 4.1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
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<div style="display: none;">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the number of campus location closed.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the number of long-term, non-cancelable operating leases.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Reduction of the liability for losses on facilities no longer in use.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommitmentsAndContingenciesDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesRentExpenseNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Rental expense for the reporting period incurred under operating leases, including minimum and any contingent rent expense, net of related sublease income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41499-112717<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesRentExpenseNet</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherRestructuringCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of other expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses associated with a discontinued operation or an asset retirement obligation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 420<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB TOPIC 5.P.4(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=27011515&amp;loc=d3e140904-122747<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 420<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6394359&amp;loc=d3e17939-110869<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 420<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 5.P.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=27011515&amp;loc=d3e140864-122747<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 5<br> -Section P<br> -Subsection 3, 4<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherRestructuringCosts</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td>duration</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6750248624">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Taxes (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CurrentIncomeTaxExpenseBenefitContinuingOperationsAbstract', window );"><strong>Current:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CurrentFederalTaxExpenseBenefit', window );">Federal</a></td>
<td class="nump">$ 25,515<span></span>
</td>
<td class="nump">$ 25,285<span></span>
</td>
<td class="nump">$ 26,390<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CurrentStateAndLocalTaxExpenseBenefit', window );">State</a></td>
<td class="nump">4,538<span></span>
</td>
<td class="nump">4,490<span></span>
</td>
<td class="nump">4,582<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CurrentIncomeTaxExpenseBenefit', window );">Total current</a></td>
<td class="nump">30,053<span></span>
</td>
<td class="nump">29,775<span></span>
</td>
<td class="nump">30,972<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract', window );"><strong>Deferred:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredFederalIncomeTaxExpenseBenefit', window );">Federal</a></td>
<td class="num">(3,634)<span></span>
</td>
<td class="nump">141<span></span>
</td>
<td class="num">(18,387)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit', window );">State</a></td>
<td class="num">(311)<span></span>
</td>
<td class="nump">344<span></span>
</td>
<td class="num">(1,726)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredIncomeTaxExpenseBenefit', window );">Total deferred</a></td>
<td class="num">(3,945)<span></span>
</td>
<td class="nump">485<span></span>
</td>
<td class="num">(20,113)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Total provision for income taxes</a></td>
<td class="nump">$ 26,108<span></span>
</td>
<td class="nump">$ 30,260<span></span>
</td>
<td class="nump">$ 10,859<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CurrentFederalTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current federal tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Current Tax Expense (or Benefit)<br> -URI http://asc.fasb.org/extlink&amp;oid=6509736<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 6<br> -Section I<br> -Paragraph Question 1-7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CurrentFederalTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CurrentIncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Current Tax Expense (or Benefit)<br> -URI http://asc.fasb.org/extlink&amp;oid=6509736<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 6<br> -Section I<br> -Subsection 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CurrentIncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CurrentIncomeTaxExpenseBenefitContinuingOperationsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CurrentIncomeTaxExpenseBenefitContinuingOperationsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current state and local tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Current Tax Expense (or Benefit)<br> -URI http://asc.fasb.org/extlink&amp;oid=6509736<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 6<br> -Section I<br> -Subsection 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CurrentStateAndLocalTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredFederalIncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred federal income tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Deferred Tax Expense (or Benefit)<br> -URI http://asc.fasb.org/extlink&amp;oid=6510177<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 6<br> -Section I<br> -Subsection 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredFederalIncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredIncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Deferred Tax Expense (or Benefit)<br> -URI http://asc.fasb.org/extlink&amp;oid=6510177<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 6<br> -Section I<br> -Subsection 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredIncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred state and local tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Deferred Tax Expense (or Benefit)<br> -URI http://asc.fasb.org/extlink&amp;oid=6510177<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 6<br> -Section I<br> -Subsection 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a),(b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Income Tax Expense (or Benefit)<br> -URI http://asc.fasb.org/extlink&amp;oid=6515339<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6761606352">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Income Taxes (Details 1) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsNetAbstract', window );"><strong>Schedule of tax effects of principal temporary differences that give rise to deferred tax assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_DeferredTaxAssetsTuitionReceivable', window );">Tuition receivable</a></td>
<td class="nump">$ 3,908<span></span>
</td>
<td class="nump">$ 3,439<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_DeferredTaxAssetsOtherFacilityRelatedCosts', window );">Other facility-related costs</a></td>
<td class="nump">$ 2,538<span></span>
</td>
<td class="nump">2,824<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities', window );">Employee-related liabilities</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(96)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsNetCurrent', window );">Current net deferred tax asset</a></td>
<td class="nump">$ 6,446<span></span>
</td>
<td class="nump">6,167<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost', window );">Stock-based compensation</a></td>
<td class="nump">16,742<span></span>
</td>
<td class="nump">12,994<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment', window );">Property and equipment</a></td>
<td class="num">(9,417)<span></span>
</td>
<td class="num">(11,622)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_DeferredTaxAssetsDeferredGainOnSaleOfPropertyNonCurrent', window );">Other facility-related costs</a></td>
<td class="nump">6,534<span></span>
</td>
<td class="nump">8,903<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsDeferredIncome', window );">Deferred revenue</a></td>
<td class="nump">4,267<span></span>
</td>
<td class="nump">3,758<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_DeferredTaxAssetsDeferredLeasingCostsNonCurrent', window );">Deferred leasing costs</a></td>
<td class="nump">$ 2,825<span></span>
</td>
<td class="nump">2,797<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsDerivativeInstruments', window );">Interest rate swap</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(56)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsOther', window );">Other</a></td>
<td class="num">$ (948)<span></span>
</td>
<td class="num">(533)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsNetNoncurrent', window );">Long-term net deferred tax asset</a></td>
<td class="nump">20,003<span></span>
</td>
<td class="nump">16,241<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsLiabilitiesNet', window );">Net deferred tax asset</a></td>
<td class="nump">$ 26,449<span></span>
</td>
<td class="nump">$ 22,408<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_DeferredTaxAssetsDeferredGainOnSaleOfPropertyNonCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The tax effect as of the balance sheet date of the amount of estimated future tax effect attributable to the difference between the tax basis of the deferred gain on sale of property and the basis of the deferred gain on sale of property in accordance with generally accepted accounting principles.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_DeferredTaxAssetsDeferredGainOnSaleOfPropertyNonCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_DeferredTaxAssetsDeferredLeasingCostsNonCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred tax asset attributable to deductible temporary differences from deferred leasing costs, noncurrent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_DeferredTaxAssetsDeferredLeasingCostsNonCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_DeferredTaxAssetsOtherFacilityRelatedCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred tax asset attributable to deductible temporary differences from other facility related costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_DeferredTaxAssetsOtherFacilityRelatedCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_DeferredTaxAssetsTuitionReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred tax asset attributable to deductible temporary differences from tuition receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_DeferredTaxAssetsTuitionReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsDeferredIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from deferred income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32621-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=51675352&amp;loc=d3e28680-109314<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32632-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsDeferredIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsDerivativeInstruments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from derivative instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=51675352&amp;loc=d3e28680-109314<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32621-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32632-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsDerivativeInstruments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, before jurisdictional netting.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsLiabilitiesNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsNetAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsNetAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsNetCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards expected to be realized or consumed within one year or operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31917-109318<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31931-109318<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31928-109318<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31958-109318<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsNetCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsNetNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after allocation of valuation allowances of noncurrent deferred tax asset attributable to deductible temporary differences and carryforwards. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31931-109318<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31928-109318<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31958-109318<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31917-109318<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsNetNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences not separately disclosed.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32621-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32632-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=51675352&amp;loc=d3e28680-109314<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from share-based compensation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32632-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=51675352&amp;loc=d3e28680-109314<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32621-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from accrued liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=51675352&amp;loc=d3e28680-109314<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32632-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32621-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred tax liability attributable to taxable temporary differences from property, plant, and equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32632-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32621-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=51675352&amp;loc=d3e28680-109314<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6738737792">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Taxes (Details 2) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReconciliationOfUnrecognizedTaxBenefitsExcludingAmountsPertainingToExaminedTaxReturnsRollForward', window );"><strong>Reconciliation of the beginning and ending amount of unrecognized tax benefits</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrecognizedTaxBenefits', window );">Beginning unrecognized tax benefits</a></td>
<td class="nump">$ 2,936<span></span>
</td>
<td class="nump">$ 1,745<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions', window );">Additions based on tax positions taken in the current year</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">2,085<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions', window );">Reductions for tax positions taken in prior years</a></td>
<td class="num">$ (2,431)<span></span>
</td>
<td class="num">(565)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromSettlementsWithTaxingAuthorities', window );">Settlements with taxing authorities</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(329)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrecognizedTaxBenefits', window );">Ending unrecognized tax benefits</a></td>
<td class="nump">$ 505<span></span>
</td>
<td class="nump">$ 2,936<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ReconciliationOfUnrecognizedTaxBenefitsExcludingAmountsPertainingToExaminedTaxReturnsRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ReconciliationOfUnrecognizedTaxBenefitsExcludingAmountsPertainingToExaminedTaxReturnsRollForward</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of unrecognized tax benefits pertaining to uncertain tax positions taken in tax returns.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=SL6600010-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Unrecognized Tax Benefit<br> -URI http://asc.fasb.org/extlink&amp;oid=6527854<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnrecognizedTaxBenefits</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase in unrecognized tax benefits resulting from tax positions that have been or will be taken in current period tax return.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15A<br> -Subparagraph (a)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=SL6600010-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase in unrecognized tax benefits resulting from tax positions taken in prior period tax returns.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15A<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=SL6600010-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase in unrecognized tax benefits resulting from settlements with taxing authorities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15A<br> -Subparagraph (a)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=SL6600010-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromSettlementsWithTaxingAuthorities</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6744252880">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Taxes (Details 3)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateContinuingOperationsTaxRateReconciliationAbstract', window );"><strong>Schedule of reconciliation between statutory tax rate and effective tax rate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate', window );">Statutory federal rate</a></td>
<td class="nump">35.00%<span></span>
</td>
<td class="nump">35.00%<span></span>
</td>
<td class="nump">35.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes', window );">State income taxes, net of federal benefits</a></td>
<td class="nump">4.20%<span></span>
</td>
<td class="nump">4.20%<span></span>
</td>
<td class="nump">4.60%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments', window );">Other</a></td>
<td class="nump">0.30%<span></span>
</td>
<td class="nump">0.30%<span></span>
</td>
<td class="nump">0.20%<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateContinuingOperations', window );">Effective tax rate</a></td>
<td class="nump">39.50%<span></span>
</td>
<td class="nump">39.50%<span></span>
</td>
<td class="nump">39.80%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateContinuingOperations</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateContinuingOperationsTaxRateReconciliationAbstract</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of domestic federal statutory tax rate applicable to pretax income (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to other adjustments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations applicable to state and local income tax expense (benefit), net of federal tax expense (benefit).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6743472928">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Taxes (Details Textual) - USD ($)<br> $ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_IncomeTaxesTextualAbstract', window );"><strong>Income Taxes (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxesPaid', window );">Cash payments for income taxes</a></td>
<td class="nump">$ 28.5<span></span>
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<td class="nump">$ 30.8<span></span>
</td>
<td class="nump">$ 26.5<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense', window );">Tax expense (benefits) related to interest and penalties</a></td>
<td class="nump">0.1<span></span>
</td>
<td class="num">(0.1)<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">0.3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate', window );">Unrecognized tax benefits that affects company's effective tax rate</a></td>
<td class="nump">0.5<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExaminationPenaltiesAndInterestAccrued', window );">Amount of interest and penalties</a></td>
<td class="nump">$ 0.2<span></span>
</td>
<td class="nump">$ 0.3<span></span>
</td>
<td class="text">&#160;<span></span>
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<div style="display: none;">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of estimated penalties and interest accrued as of the balance sheet date arising from income tax examinations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32718-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExaminationPenaltiesAndInterestAccrued</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The sum of the amounts of estimated penalties and interest recognized in the period arising from income tax examinations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32718-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Balance Type:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4297-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of the unrecognized tax benefit of a position taken for which it is reasonably possible that the total amount thereof will significantly increase or decrease within twelve months of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32718-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15A<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=SL6600010-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6761809136">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Summarized Quarterly Financial Data (Unaudited) (Details) - USD ($)<br> $ / shares in Units, $ in Thousands</strong></div></th>
<th class="th" colspan="8">3 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Jun. 30, 2015</div></th>
<th class="th"><div>Mar. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Sep. 30, 2014</div></th>
<th class="th"><div>Jun. 30, 2014</div></th>
<th class="th"><div>Mar. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SelectedQuarterlyFinancialInformationAbstract', window );"><strong>Selected Quarterly Financial Information [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueServicesNet', window );">Revenues</a></td>
<td class="nump">$ 113,660<span></span>
</td>
<td class="nump">$ 99,142<span></span>
</td>
<td class="nump">$ 109,750<span></span>
</td>
<td class="nump">$ 111,885<span></span>
</td>
<td class="nump">$ 116,070<span></span>
</td>
<td class="nump">$ 100,756<span></span>
</td>
<td class="nump">$ 112,747<span></span>
</td>
<td class="nump">$ 116,468<span></span>
</td>
<td class="nump">$ 434,437<span></span>
</td>
<td class="nump">$ 446,041<span></span>
</td>
<td class="nump">$ 503,600<span></span>
</td>
</tr>
<tr class="re">
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<td class="nump">21,656<span></span>
</td>
<td class="nump">7,254<span></span>
</td>
<td class="nump">20,929<span></span>
</td>
<td class="nump">19,859<span></span>
</td>
<td class="nump">22,624<span></span>
</td>
<td class="nump">9,216<span></span>
</td>
<td class="nump">23,998<span></span>
</td>
<td class="nump">25,909<span></span>
</td>
<td class="nump">69,698<span></span>
</td>
<td class="nump">81,747<span></span>
</td>
<td class="nump">32,701<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
<td class="nump">$ 13,041<span></span>
</td>
<td class="nump">$ 3,723<span></span>
</td>
<td class="nump">$ 11,874<span></span>
</td>
<td class="nump">$ 11,385<span></span>
</td>
<td class="nump">$ 12,943<span></span>
</td>
<td class="nump">$ 4,953<span></span>
</td>
<td class="nump">$ 13,677<span></span>
</td>
<td class="nump">$ 14,783<span></span>
</td>
<td class="nump">$ 40,023<span></span>
</td>
<td class="nump">$ 46,356<span></span>
</td>
<td class="nump">$ 16,425<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareAbstract', window );"><strong>Net income per share:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasic', window );">Basic</a></td>
<td class="nump">$ 1.23<span></span>
</td>
<td class="nump">$ 0.35<span></span>
</td>
<td class="nump">$ 1.12<span></span>
</td>
<td class="nump">$ 1.08<span></span>
</td>
<td class="nump">$ 1.22<span></span>
</td>
<td class="nump">$ 0.47<span></span>
</td>
<td class="nump">$ 1.29<span></span>
</td>
<td class="nump">$ 1.40<span></span>
</td>
<td class="nump">$ 3.78<span></span>
</td>
<td class="nump">$ 4.39<span></span>
</td>
<td class="nump">$ 1.55<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareDiluted', window );">Diluted</a></td>
<td class="nump">$ 1.21<span></span>
</td>
<td class="nump">$ 0.35<span></span>
</td>
<td class="nump">$ 1.11<span></span>
</td>
<td class="nump">$ 1.06<span></span>
</td>
<td class="nump">$ 1.21<span></span>
</td>
<td class="nump">$ 0.46<span></span>
</td>
<td class="nump">$ 1.29<span></span>
</td>
<td class="nump">$ 1.40<span></span>
</td>
<td class="nump">$ 3.73<span></span>
</td>
<td class="nump">$ 4.35<span></span>
</td>
<td class="nump">$ 1.55<span></span>
</td>
</tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI http://asc.fasb.org/extlink&amp;oid=32703322&amp;loc=d3e4984-109258<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.23)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 18<br> -Article 7<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 20<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 21<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 18<br> -Article 7<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 20<br> -Article 5<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 21<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 19<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 20<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net result for the period of deducting operating expenses from operating revenues.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate revenue during the period from services rendered in the normal course of business, after deducting allowances and discounts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6636286864">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Regulation (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Apr. 29, 2015</div></th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_RegulationTextualAbstract', window );"><strong>Regulation (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">8.00%<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_AverageOfMedianDiscretionaryPercentage', window );">Average of median discretionary percentage</a></td>
<td class="nump">20.00%<span></span>
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_ThresholdForProgramToFail', window );">Debt to income rates description</a></td>
<td class="text">A program would fail if the program's graduates have an annual income rate of 12% or greater and a discretionary income rate of 30% or greater.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_AmountDueToDepartmentOfEducation', window );">Amount due to department of education</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 500<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MinimumMember', window );">Minimum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_RegulationTextualAbstract', window );"><strong>Regulation (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_AverageOfMedianAnnualIncomePercentage', window );">Average of median annual income percentage</a></td>
<td class="nump">8.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_AverageOfMedianDiscretionaryPercentage', window );">Average of median discretionary percentage</a></td>
<td class="nump">20.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MaximumMember', window );">Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_RegulationTextualAbstract', window );"><strong>Regulation (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_AverageOfMedianAnnualIncomePercentage', window );">Average of median annual income percentage</a></td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_AverageOfMedianDiscretionaryPercentage', window );">Average of median discretionary percentage</a></td>
<td class="nump">30.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_AmountDueToDepartmentOfEducation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount due to the Department of Education based on an underpayment on a return to Title IV calculation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_AmountDueToDepartmentOfEducation</td>
</tr>
<tr>
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<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_AverageOfMedianAnnualIncomePercentage">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Average of median annual income percentage.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_AverageOfMedianAnnualIncomePercentage</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_AverageOfMedianDiscretionaryPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Average of median discretionary percentage.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_AverageOfMedianDiscretionaryPercentage</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_RegulationTextualAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Regulation Textual Abstract.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_RegulationTextualAbstract</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_ThresholdForProgramToFail">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Threshold for program to fail.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_ThresholdForProgramToFail</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RangeAxis=us-gaap_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MinimumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RangeAxis=us-gaap_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MaximumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6750464096">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Subsequent Event (Details) - Subsequent Event [Member]<br> $ in Millions</strong></div></th>
<th class="th">
<div>Jan. 13, 2016 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventLineItems', window );"><strong>Subsequent Event [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireBusinessesGross', window );">Purchase price paid in cash</a></td>
<td class="nump">$ 7.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationContingentConsiderationLiability', window );">Additional contingent cash payment</a></td>
<td class="nump">$ 18.0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationContingentConsiderationLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of liability recognized arising from contingent consideration in a business combination.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 35<br> -Paragraph 1<br> -Subparagraph b<br> -URI http://asc.fasb.org/extlink&amp;oid=6911338&amp;loc=d3e6819-128478<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 25<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6911189&amp;loc=d3e6408-128476<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationContingentConsiderationLiability</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireBusinessesGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow associated with the acquisition of business during the period. The cash portion only of the acquisition price.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquireBusinessesGross</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
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</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SubsequentEventLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Detail information of subsequent event by type. User is expected to use existing line items from elsewhere in the taxonomy as the primary line items for this disclosure, which is further associated with dimension and member elements pertaining to a subsequent event.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SubsequentEventLineItems</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
